Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Significant Resources to Enhance Māori Governance

JOINT MEDIA STATEMENT: Federation of Maori Authorities, Maori Trustee, University of Waikato, NZ Institute of Chartered Accountants, Institute of Directors, Russell Investments


Significant Resources to Enhance Māori Governance

Projects to identify governance models for complex Māori ownership structures and for upskilling the abilities of those governing Māori assets will be the focus of a working panel responding to recommendations 14 and 22 of the Māori Economic Development Panel’s Action Plan released today.

The Institute of Directors, the New Zealand Institute of Chartered Accountants, the University of Waikato’s Te Mata Hautū Taketake – the Māori and and Indigenous Governance Centre and internationally renowned Russell Investments will work with the Federation of Māori Authorities (Federation) and the Māori Trustee on projects designed to ensure optimum value is gained from Māori assets.

“There is a mix of ownership structures and many iwi are at different stages in their development of assets and governance abilities and those three factors are what this group will address,” Federation Chief Executive Te Horipo Karaitiana.

Jamie Tuuta, Māori Trustee says: “Good governance is essential in order for Māori asset holders to achieve their goals. We administer 2,000 trusts, companies and joint ventures on behalf of around 95,000 owners and can see how critical it is to have the right structure and governance capability.”

Dr Robert Joseph director of Te Piringa-Faculty of Law’s Māori and Indigenous Governance Centre at the University of Waikato, which will convene the new group, said the University would draw on much international research to inform the process while the University’s long, historical involvement with Māori and the legal and educational expertise it could offer would be invaluable in both identifying suitable governance structures and implementing governance programmes.

“There is no doubt that many trusts and iwi groups need help to improve the skills base among their directors and trustees. For some it may be the traditional corporate governance model may be a better option. We’ve seen that work for Tainui and Ngāi Tahu,” Dr Joseph said.

“But for other, different governance models may provide a better fit. Our experience would indicate that one size does not fit all, so we need to be certain that the model or the models we identify will be suitable.”

Ralph Chivers, Chief Executive, of the Institute of Directors, also welcomes the opportunity to work on a specific Māori targeted initiative and apply the Institutes specialist skills to the issues of Governance in Māoridom.

“The IoD is committed to governance best practice and to raising the standard of governance in all areas of New Zealand business and society. This is a great opportunity for us to work with Māori to apply best practice governance to their specific situations and circumstances.

“Māori are entrusted with a significant number of assets that have both commercial and social performance drivers and as such the need for strong, effective governance is even more important. Ensuring that an effective, best practice governance model is put in place is vital for the long-term performance and longevity of those assets.”

The Chief Executive of the New Zealand Institute of Chartered Accountants, Terry McLaughlin, said a strong governance structure is a key part of overall performance improvement.

“Many of our members are working with Māori-led business in New Zealand and – like all New Zealanders – we have an interest in seeing them grow and succeed,” Mr McLaughlin said.

“Our nationwide network of members has a vital role to play in helping New Zealand businesses grow, and that includes working to improve the performance of governance structures that might work best to take any business, including Māori-led businesses, to the next stage of their development. We welcome the Māori Economic Development Panel’s report and are delighted to be part of this initiative.”

Daniel Mussett, Head of Consulting at Russell Investments – a private sector multi-national renowned for its research abilities – says the resources of 40 worldwide offices will be made available to the new initiative.

“We work around the world with many different variations and ownership structures but all our advice and modeling comes with one goal in mind – to improve financial outcomes outcomes for our clients.”

END

© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Sky City : Auckland Convention Centre Cost Jumps By A Fifth

SkyCity Entertainment Group, the casino and hotel operator, is in talks with the government on how to fund the increased cost of as much as $130 million to build an international convention centre in downtown Auckland, with further gambling concessions ruled out. The Auckland-based company has increased its estimate to build the centre to between $470 million and $530 million as the construction boom across the country drives up building costs and design changes add to the bill.
More>>

ALSO:

RMTU: Mediation Between Lyttelton Port And Union Fails

The Rail and Maritime Union (RMTU) has opted to continue its overtime ban indefinitely after mediation with the Lyttelton Port of Christchurch (LPC) failed to progress collective bargaining. More>>

Earlier:

Science Policy: Callaghan, NSC Funding Knocked In Submissions

Callaghan Innovation, which was last year allocated a budget of $566 million over four years to dish out research and development grants, and the National Science Challenges attracted criticism in submissions on the government’s draft national statement of science investment, with science funding largely seen as too fragmented. More>>

ALSO:

Scoop Business: Spark, Voda And Telstra To Lay New Trans-Tasman Cable

Spark New Zealand and Vodafone, New Zealand’s two dominant telecommunications providers, in partnership with Australian provider Telstra, will spend US$70 million building a trans-Tasman submarine cable to bolster broadband traffic between the neighbouring countries and the rest of the world. More>>

ALSO:

More:

Statistics: Current Account Deficit Widens

New Zealand's annual current account deficit was $6.1 billion (2.6 percent of GDP) for the year ended September 2014. This compares with a deficit of $5.8 billion (2.5 percent of GDP) for the year ended June 2014. More>>

ALSO:

Still In The Red: NZ Govt Shunts Out Surplus To 2016

The New Zealand government has pushed out its targeted return to surplus for a year as falling dairy prices and a low inflation environment has kept a lid on its rising tax take, but is still dangling a possible tax cut in 2017, the next election year and promising to try and achieve the surplus pledge on which it campaigned for election in September. More>>

ALSO:

Job Insecurity: Time For Jobs That Count In The Meat Industry

“Meat Workers face it all”, says Graham Cooke, Meat Workers Union National Secretary. “Seasonal work, dangerous jobs, casual and zero hours contracts, and increasing pressure on workers to join non-union individual agreements. More>>

ALSO:

Get More From Scoop

 
 
Standards New Zealand

Standards New Zealand
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news