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Close scrutiny of Council’s audit responsibilities will be the focus of a new Audit and Risk Committee, with membership drawn from both within and outside of Council.
This week’s Council meeting (11 April) agreed the establishment of the new Committee, it’s Charter, and the appointment of two external members of the Committee.
The Committee is charged with monitoring Council’s external and internal audit processes to ensure Council meets its responsibilities, as well as scrutinising audit policies, processes and controls. It is also tasked with ensuring key risks in the organisation are being properly managed.
Paul Connell and Tony Steele have been appointed to the Committee, and will join Mayor Julie Hardaker, Deputy Mayor Gordon Chesterman and chair of the Finance and Monitoring Committee Councillor Dave Macpherson as members.
Paul Connell, from Auckland, who will chair the Committee, has extensive experience as a financial professional working as a chartered and corporate accountant in New Zealand and the United Kingdom. He now combines professional consultancy with independent directorships. He presently has directorships, and some additional audit committee responsibilities, at five companies including Just Water (Board chair), Unison Networks and Telarc SAI.
Tony Steele, from Hamilton, has over 40 years in business advisory and financial management roles and was a previous partner at KPMG in Hamilton. Tony also combines professional consultancy with independent directorships, and is director of seven companies. These include Forlong and Maisey (Board chair), Prolife Foods and WEL Networks. He also has additional audit and risk committee responsibilities at two of these companies.
Mayor Julie Hardaker says: “Rigorous scrutiny of how Council goes about its business is critical and this new Audit and Risk Committee will have this as a key focus of its work. I am pleased with the appointment of Paul Connell and Tony Steele to the Committee and look forward to the benefit of their extensive experience, specialist skills and fresh perspective on Council’s financial business.”
The Committee will meet at least four times a year, with its first meeting expected in June.
An announcement of an external provider of internal audit services to Council is also expected shortly.