The NZIOB’s Risk & Audit Committee (RAC) performs a very important role for the Institute, providing independent oversight of management financial reporting procedures, undertaking risk analysis, and ensuring that the NZIOB is compliant with its regularity requirements. The RAC works closely with the CEO and Financial Controller in their preparation of the financial inputs for the bi-monthly NZIOB Board meetings, while also reviewing the Institute’s Risk Register on a regular basis.
In line with the new NZIOB Board cycle, a new RAC has been appointed for the 2021–2023 board term. The new RAC includes NZIOB Chair, John Hemi as the board conduit, and Central Region Members, Natasha Possenniskie and Dave Morris.
The NZIOB Board and Management would like to acknowledge the outgoing RAC: Grant Harris (Past President), Hayley Groves (2016–2021 Board Member), and Craig Brosnan. Their collective contribution has led to increased rigor being applied to the managing and reporting of the Institute’s finances.