Report of the Audit and Risk Committee
The Audit and Risk Committee is an independent committee established by, and reporting directly to, the Auditor-General.
| Members (1 July 2022 to 30 April 2023) | Members (1 May 2023 to 30 June 2023) |
|---|---|
| Warren Allen FCA, FCIS, MinstD, Chair Linda Robertson BComm, Dp.Bank, GAICD, INFINZ, FGNZ, CFInstD, CS, CGP Howard Fancy MComm(Hons), BSc(Hons) Chemistry Greg Schollum, BMS, FCA Deputy Controller and Auditor-General |
Warren Allen FCA, FCIS, MinstD, Chair Linda Robertson BComm, Dp.Bank, GAICD, INFINZ, FGNZ, CFInstD, CS, CGP Howard Fancy MComm(Hons), BSc(Hons) Chemistry Andrew McConnell, Deputy Controller and Auditor-General |
The Audit and Risk Committee is an independent committee established by, and reporting directly to, the Auditor-General. The Committee has no management functions. The purpose of the Committee is to provide independent oversight and advice to the Auditor-General on:
- risk management and internal controls;
- the Office’s audit functions (both internal and external audits);
- financial and other external reporting;
- the governance framework and processes, and
- compliance with legislation, policies, and procedures.
In the last year, the Committee met on five occasions to fulfil its role and responsibilities. The Committee:
- received regular updates on the Office’s key focus areas and discussed risks for the Office to ensure they are appropriately managed;
- reviewed the Office’s strategic risks with the Auditor-General;
- received regular briefings on the Controller function;
- obtained briefings on the internal audit programme, findings and audit challenges;
- monitored the implementation of audit recommendations by internal and external auditors;
- discussed with the external auditors their plans and findings;
- considered and queried various team updates;
- reviewed the 2021/2022 Annual Report and annual financial statements of the Office prior to the approval by the Auditor-General; and
- deliberated on major projects: new Audit Quality Standard; new Audit Tool (Auvenir); rapid review of Audit New Zealand; delayed audits; recruitment challenges; the Health Sector Reform; final Strategic Intentions; te ao Māori.
The Committee reported on the above and on all other relevant matters to the Auditor-General. At the time of this report, there were no outstanding matters.
The Committee acknowledged Greg Schollum, former Deputy Controller and Auditor-General, for his contribution and mana during his term.
The Committee welcomed Andrew McConnell as the newly appointed Deputy Controller and Auditor-General in May. We look forward to working together with Andrew.
Warren Allen
Chair, Audit and Risk Committee
14 August 2023