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

 

Prefu Roundup: Forecasts Revised, Surplus Intact

The National government heads into the election with its Budget surplus target broadly intact, delivering a set of economic and fiscal forecasts marginally revised from May to reflect weaker commodity prices and a lower tax take. More>>

ALSO:

Convention Centre: Major New SkyCity Hotel And Laneway For Auckland

Today SKYCITY Entertainment Group Limited revealed plans to build a new hotel and pedestrian laneway of bars, restaurants and boutique shopping on land it owns in the Nelson and Hobson Streets block, expanding the SKYCITY Entertainment Precinct. More>>

ALSO:

Igniting The Spark: Bringing The Digital Enabler To Life

Changing a name is, relatively speaking, the easy part of a re-invention. Changing a culture, getting all the ducks in a row, turning yourself inside-out to become customer-inspired is a much bigger challenge. More>>

ALSO:

Ebola And NZ: Targeted Screening At Airport But Risk Low

The risk of any cases of Ebola in New Zealand remains very low, but health and border authorities are well prepared... anyone arriving in New Zealand who in the last three weeks has visited countries affected will be screened for symptoms of the disease. More>>

ALSO:

Scoop Business: Brewer Seeking Crowd-Funding Cancels Shareholders’ Dividends

Shareholders in Renaissance Brewing company, the first business to seek equity through crowd-funding in New Zealand, have cancelled their claim on $147,000 of accumulated earnings “to make Renaissance a more attractive investment opportunity.” More>>

ALSO:

It's Spark Now:
Why Telecom Wanted To Change

New Zealand led the world when Chorus demerged from Telecom. It gave us a telecommunications industry structure where the network is completely separated from the products and services it delivers. The changes brought about a new market dynamic and it dramatically changed Telecom’s role. More>>

ALSO:

Glass Half Empty: Dairy Prices Fall To Lowest Since 2012

Dairy product prices slumped to the lowest level since October 2012 in the latest GlobalDairyTrade auction, paced by whole milk powder and cheddar. More>>

ALSO:

Get More From Scoop

 
 
Computer Power Plus

Standards New Zealand

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