Appendix 1: Report of the Audit and Risk Committee

Members (1 July 2023 to 30 June 2024)

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 seven occasions to fulfil its role and responsibilities. During the past year, 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;
  • discussed with external auditors their plans and findings;
  • monitored the Office's implementation of audit recommendations made by internal and external auditors;
  • reviewed the 2022/2023 Annual Report and annual financial statements of the Office prior to the approval by the Auditor-General;
  • reviewed the Draft 2024/25 Annual Plan; and
  • deliberated on major projects: progress on implementation of the Information System Strategic Plan (ISSP); implementation of the new audit tool (Auvenir); the Office's role in climate-related disclosures; the Audit New Zealand work practice review; incorporating reforms in the health sector and water infrastructure into the Office's business; progress on the Office's te ao Māori and People Strategy.

The Committee has reported on the above, and on all other relevant matters to the Auditor-General.

There were no outstanding matters at the time of this report.

Warren Allen
Chair, Audit and Risk Committee

13 August 2024