MEDIA RELEASE

Waitomo District Council introduce Audit and Risk Committee

29 NOVEMBER 2017

FOR IMMEDIATE RELEASE

The Taxpayers’ Union is welcoming news that Waitomo District Council has established an Audit and Risk Committee, after Ratepayers' Report revealed that Waitomo District Council was one of only three councils nationwide without a dedicated, formal body tasked with audit and risk oversight.

Jordan Williams, Executive Director of the Taxpayers’ Union, says, "Waitomo District ratepayers will welcome their Council’s decision to follow best practice.  Audit and Risk Committees act as critical safeguards for ratepayers as they oversee council financial activity, and manage risk."

"Ratepayers’ Report, our 2017 local government league tables highlighted that Waitomo District Council charges the highest average residential rates of New Zealand’s rural councils, and has higher liabilities than any council in New Zealand on a residential ratepayer basis. Those very poor metrics show that this decision was well overdue."

“While establishing an Audit and Risk Committee is a great first step, delivering robust risk management for Waitomo ratepayers should mean having an independent member chair of the Committee, with both an independent lawyer and accountant sitting around the table."

The Union is now organising a campaign calling on the two remaining councils, Otorohanga District Council and Grey District Council, to also adopt best practice and establish an Audit and Risk Committee.

Ratepayers’ Report, the Taxpayers’ Union’s 2017 local government league tables, are available at www.ratepayersreport.nz.

A petition for Otorohanga and Grey District Councils to introduce their own Audit and Risk Committees is available at www.taxpayers.org.nz/audit_.

ENDS

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