Risk and Assurance Committee

This Committee is responsible for the promotion and enhancement Council’s risk and assurance processes including strengthening the monitoring of Council’s risk control and compliance framework:

2.1 Tātari Mai Waho | External Audit

1. Engaging with Council’s external auditors regarding the external audit work programme.
2. Recommending to Council the terms and arrangements for the external audit programme.
3. Reviewing the effectiveness of the annual audit and 10-year plan audit, to ascertain whether emphasis is being placed on areas where the Committee, management or auditors believe special attention is necessary.
4. Reviewing management response to audit reports and the extent to which external audit recommendations concerning internal controls and other matters are implemented.

2.2 Tātari Mai Roto me te Tuatari Kounga | Internal Audit and Assurance

1. In conjunction with the Chief Executive, agreeing the scope of the annual internal audit work programme.
2. Monitoring the delivery of the internal audit work programme.
3. Assessing whether all significant recommendations of the Internal Audit programme have been properly implemented by management.

2.3 Whakahaere Tūraru | Risk Management

1. Reviewing whether management has in place a current and comprehensive risk management framework, and associated procedures for effective identification and management of the Council’s financial and business risks, including fraud.
2. Reviewing whether a sound and effective approach has been followed in developing strategic risk management plans for major projects or undertakings.
3. Reviewing the effect of Council’s risk management framework on its control environment and insurance arrangements.
4. Reviewing whether a sound and effective approach has been followed in establishing Council’s business continuity planning arrangements, including whether disaster recovery plans have been tested periodically.
5. Reviewing Council’s fraud policy and satisfying itself that Council has appropriate processes and systems in place to capture and effectively investigate fraud-related information.
6. Provide ongoing oversight of Council’s major projects or undertakings that have a higher potential risk (and associated consequence) in terms of achieving the project goals and objectives within the approved time, scope and budget.

2.4 Anga Arotake | Control Framework

1. Reviewing whether management’s approach to maintaining an effective internal control framework, including over external parties such as contractors and advisers, is sound and effective.
2. Reviewing whether management has in place relevant policies, processes, and procedures, and that these are periodically reviewed and updated.
3. Reviewing whether appropriate policies and procedures are in place for the management and exercise of delegations.
4. Reviewing regular reporting on processes ensuring compliance with key controls including six monthly gift register reporting, and policy updates.

2.5. Tautuku ki Ngā Ture | Legislative Compliance

1. Determining whether management has appropriately considered legal and compliance risks as part of Council’s risk assessment and management arrangements.
2. Reviewing the effectiveness of the system for monitoring Council’s compliance with relevant legislation, and associated government policies.

2.6 Tauākī Pūtea ā-Tau | Annual Financial Statements

Reporting to the Finance Committee on any matters pertaining to the Committee’s work programme that may impact on the adoption of the Annual Report.

Committee members

Waikato Regional Council Members: Cr Chris Hughes (Deputy Chair), Cr Warren Maher, Cr Robert Cookson, Cr Keith Holmes, Cr Tipa Mahuta, Cr Noel Smith

Alternates: Cr Mich'eal Downard, Cr Garry Reymer 

Other Committee Members: Graham Naylor, Paul Connell