A source told the Otago Daily Times yesterday that Mooney was flying to Dunedin today to be interviewed at Carisbrook.
It is believed that Smith, ousted by Bay of Plenty at the start of the Air New Zealand Cup, is also being interviewed, either today or tomorrow.
It seems Smith and Mooney are joining Otago Country coach David Latta and Alhambra-Union coach Mike Moeahu on the shortlist to replace Steve Martin.
Mooney was sacked as Reds coach in September after winning just six out of 26 Super 14 games in his two seasons with the team.
Just two months after he was replaced by former Waratahs coach Ewen McKenzie, Mooney was joining the Brisbane Broncos rugby league club as a part-time skills coach.
But he made it clear his desire was to get back to coaching in the 15-man code, a sentiment that could support speculation he is pursuing a job in Otago.
Mooney's results with Queensland, a former powerhouse, were poor, but his reputation as a coach does not appear to have suffered too badly.
Regarded as a good backline organiser, he has also shown an ability to work with younger players.
In 2006, he guided Australia under-19 to the world title.
The thought of an Australian coaching a traditionally strong New Zealand province like Otago might have been unpalatable to many a decade ago.
But Otago has struggled in recent seasons and is very much at a point where the best coach interested in the job must be appointed.
Latta remains the sentimental favourite, though it is understood there is also plenty of support for the astute Moeahu.
Smith, the former Waikato and Fiji hooker, could be the wildcard.
His coaching career appeared to be on the rise when he was appointed Bay of Plenty coach in March.
He had previously coached Fraser Tech to a Waikato club title and worked with the Mooloos as a scrum coach.
But Smith took leave from the Steamers just days before their season opener amid rumours of a player revolt and fall-out with management.
His contract was later terminated by mutual agreement.