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Council member and meetings
Audit and Risk Committee
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OPEN AGENDA

I hereby give notice that a meeting of the

AUDIT AND RISK COMMITTEE

will be held as follows:

DATE: Thursday, 24 April 2008
TIME: 7.30am
VENUE: Committee Room, Level 15
  Civic Administration Building
  1 Greys Avenue
  Auckland
Mike Giddey
DEMOCRACY ADVISOR

Members:

Councillor Richard Northey, ONZM Chairperson
Councillor Doug Armstrong, QSO Deputy Chairperson
Councillor Paul Goldsmith

Co-opted Member:

Mr Roy Tiffin, Chartered Accountant

Ex Officio:

His Worship the Mayor, Hon. John Banks, QSO
Deputy Mayor, David Hay, JP

  1. Top APOLOGIES

    At the close of the agenda no apologies had been received.

  2. Top EXTRAORDINARY BUSINESS

    Section 46A(7) of the Local Government Official Information and Meetings Act 1987 (as amended) states:
    "An item that is not on the agenda for a meeting may be dealt with at that meeting if-
    (a) The local authority by resolution so decides; and
    (b) The presiding member explains at the meeting at a time when it is open to the public,-
      (i) The reason why the item is not on the agenda; and
      (ii) The reason why the discussion of the item cannot be delayed until a subsequent meeting."
    Section 46A(7A) of the Local Government Official Information and Meetings Act 1987 (as amended) states:
    "Where an item is not on the agenda for a meeting,-
    (a) That item may be discussed at that meeting if-
      (i) That item is a minor matter relating to the general business of the local authority; and
      (ii) The presiding member explains at the beginning of the meeting, at a time when it is open to the public, that the item will be discussed at the meeting; but
    (b) no resolution, decision, or recommendation may be made in respect of that item except to refer that item to a subsequent meeting of the local authority for further discussion."

  3. Top PUBLIC FORUM

    A period of time (approximately 20 minutes) is set aside for members of the public to address the meeting on matters within its delegated authority. A maximum of 5 minutes per item is allowed, following which there may be questions from members.

    At the close of the agenda no requests to speak had been received.

  4. Top MANAGEMENT REPORT ON THE AUDIT OF AUCKLAND CITY COUNCIL FOR THE YEAR ENDED 30 JUNE 2007 - UPDATE

    R Ganesh  
    Corporate finance manager 8 April 2008

    Providing an update on the issues arising from Audit New Zealand's management report on the audit of Auckland City Council for the year ended 30 June 2007. 

    The report shows that there are no significant issues arising out of the year-end audit and highlights a number of matters that Auckland City Council needs to progress on.

    Recommending that the progress made on matters raised in the management report on the audit of Auckland City Council for the year ended 30 June 2007 be noted.

    [ATTACHMENT 4] Pages 1 - 4

  5. Top UPDATE ON ACCOUNTING STANDARDS

    R Ganesh  
    Corporate finance manager 8 April 2008

    Reporting on changes to the accounting standards applying to Auckland City Council. From 1 July 2007, Auckland City Council will change its treatment of borrowing costs in line with New Zealand International Accounting Standards 23 on borrowing costs and will implement significant new disclosures to comply with New Zealand International Financial Reporting Standards 7 on financial Instruments.

    Recommending that the changes to these accounting standards be noted.

    [ATTACHMENT 5] Pages 5 - 10

  6. Top AUDIT AND RISK COMMITTEE CHARTER

    G Christie  
    Group manager, Risk and assurance 10 April 2008

    Reporting on the obligations, responsibility and function of the Audit and Risk Committee for the next triennium, including the Committee's role to help council exercise due care, diligence and skill in relation to its objectives and charter.

    Recommending that the Committee notes that the mechanisms that are in place to ensure the Committee's obligations and purpose as outlined in the charter (delegations) are being met.

    [ATTACHMENT 6] Pages 11 - 18

  7. Top RISK AND ASSURANCE TERMS OF REFERENCE AND CHARTER

    G Christie  
    Group manager, Risk and assurance 10 April 2008

    Reporting that the Risk and Assurance (R&A) group, in line with professional standards and industry practice has a charter, which sets out the purpose, authority and responsibility of the R&A group. It is set in the context of a document called the Risk and Assurance terms of reference that outlines the role and responsibility of the group, the relationship with the rest of the organisation, governance and operating framework and a description the types of activities that are undertaken by R&A.

    Recommending that the Committee notes that, in line with professional standards and industry practice, the charter provides for the independence of the group and authority that enables full and free access to information, property and assistance from staff in order to perform its duties.

    [ATTACHMENT 7] Pages 19 - 42

  8. Top EXCLUSION OF THE PUBLIC : LOCAL GOVERNMENT OFFICIAL INFORMATION AND MEETINGS ACT 1987

    M Giddey  
    Democracy Advisor 17 April 2008
    Section 48, Local Government Official Information and Meetings Act 1987:

    The following motion is submitted for consideration:

    That the public be excluded from the following part(s) of the proceedings of this meeting.

    The general subject of each matter to be considered while the public is excluded, the reason for passing this resolution in relation to each matter, and the specific grounds under Section 48(1) of the Local Government Official Information and Meetings Act 1987 for the passing of this resolution are as follows:

    This resolution is made in reliance on Section 48(1)(a) of the Local Government Official Information and Meetings Act 1987 and the particular interest or interests protected by section 6 or section 7 of that Act which would be prejudiced by the holding of the whole or relevant part of the proceedings of the meeting in public are as follows:

    Item no.

    		 General subject of each matter to be considered Reason for passing this resolution in relation to each matter Particular interest(s) protected (where applicable) Ground(s) under section 48(1) for the passing of this resolution
    C1 Planned Audit Approach Auckland City Council for the year ended 30 June 2008 The public conduct of the part of the meeting would be likely to result in the disclosure of information for which good reason to withhold exists under section 7. Section 7(2)(c)(ii)

    The withholding of the information is necessary to protect information which is subject to an obligation of confidence or which any person has been or could be compelled to provide under the authority of any enactment, where the making available of the information would be likely to damage the public interest.

    In particular, the report contains sensitive information, including issues to be discussed and resolved as part of the annual audit process. While no issue is significant, when taken out of context it may be damaging to the public interest.

    		 Section 48(1)(a)

    The exclusion of the public from the part of the meeting is necessary to enable the local authority to deliberate in private on its decision or recommendation.
    C2 Risk and Assurance update The public conduct of the part of the meeting would be likely to result in the disclosure of information for which good reason to withhold exists under section 7. Section 7(2)(a)

    The withholding of the information is necessary to protect the privacy of natural persons, including that of a deceased person.

    Section 7(2)(c)(i)

    The withholding of the information is necessary to protect information which is subject to an obligation of confidence or which any person has been or could be compelled to provide under the authority of any enactment, where the making available of the information would be likely to prejudice the supply of similar information or information from the same source and it is in the public interest that such information should continue to be supplied.

    Section 7(2)(c)(ii)

    The withholding of the information is necessary to protect information which is subject to an obligation of confidence or which any person has been or could be compelled to provide under the authority of any enactment, where the making available of the information would be likely to damage the public interest.

    In particular, Council need to keep the information confidential to protect the privacy of individuals and of the ongoing information in order to enhance and promote a regime of continuous improvement.

    		 Section 48(1)(a)

    The exclusion of the public from the part of the meeting is necessary to enable the local authority to deliberate in private on its decision or recommendation.