Gordon Campbell | Parliament TV | Parliament Today | News Video | Crime | Employers | Housing | Immigration | Legal | Local Govt. | Maori | Welfare | Unions | Youth | Search

 

Auditor-General's report, Reflections from our audits

Auditor-General's report, Reflections from our audits: Investment and asset management

The Auditor-General’s Reflections from our audits: Investment and asset management was presented to the House of Representatives today. This is the fourth reflections report from the Auditor-General.

Our work programme theme for 2015/16 was Investment and asset management. This report brings together some reflections from our work under this theme.

Investment and asset management are critical to New Zealand’s future. Public entities are stewards of physical assets worth about $260 billion and financial assets worth about $145 billion. Public money must be wisely invested in these assets, if they are to continue to deliver essential services to New Zealanders in the long term.

To make good investment decisions there needs to be effective engagement by public entities with the people receiving the services about the service levels they expect and the affordability of those expectations. Public entities tend to have well-reasoned business cases for investing in assets, but the cases do not always take into account the whole of life of the proposed asset.

Public entities should also work co-operatively with other entities, where it is sensible to do so, to address the challenges and opportunities that can affect investment and asset management. This includes central and local government working more effectively together for the benefit of New Zealanders.

Often, better information is needed about the condition and performance of assets in order to make good choices and judgements about maintaining, renewing and replacing assets to optimise the delivery of public services.

Public entities with significant investments in financial assets have reasonably good structures and systems for managing and governing those assets. However, at a whole-of-government level, thought needs to be given to financial asset risks and the challenges and opportunities that those risks present. There should be an overarching investment strategy for the Crown’s financial assets.

We encourage decision-makers to think about the matters raised in this report. Although aspects of asset management are done well by some public entities, there are significant issues to be addressed and challenges to meet if public assets are to continue to deliver the services that New Zealanders expect over the long term.

This report is also available as an epub and a two-page summary (click links to download).

© Scoop Media

 
 
 
Parliament Headlines | Politics Headlines | Regional Headlines

Government: Traffic Light Levels Announced


The levels at which different parts of New Zealand will move forward into the COVID-19 Protection Framework this Friday have been announced. Northland, Auckland, Taupō and Rotorua Lakes Districts, Kawerau, Whakatane, Ōpōtiki Districts, Gisborne District, Wairoa District, Rangitikei, Whanganui and Ruapehu Districts will move in at Red... More>>

ALSO:

Gordon Campbell: On Why An Attack On Iran Is Back On The Agenda


Reportedly, Christopher Luxon has the edge on Simon Bridges in National’s leadership contest although there is no firm evidence for that hunch. So, one hesitates about joining a media echo chamber that amplifies Luxon’s chances ahead of the 3pm caucus meeting today. You know how it goes: Luxon doesn’t quite have the numbers, so his people start talking to the media to make him seem like the smart bet. Or even perhaps: Luxon hasn't got the numbers, and his people start talking to the media to talk up his support so that he gets a nicer consolation prize... More>>




 
 


Government: New Law Will Clear The Air For Tamariki In Vehicles
From today, it’s illegal to smoke or vape in most vehicles carrying children aged under 18 years old - whether the vehicle is moving or not. “Second-hand smoke poses an unacceptable risk to our tamariki and rangatahi,” Associate Minister of Health Dr Ayesha Verrall said... More>>



Government: Workplace Vaccination Requirements Extended To Cover Police And NZ Defence Force

Workplace Relations and Safety Minister Michael Wood announced today that workplace vaccination requirements will be extended to include the New Zealand Police and Defence Force in preparation for the transition to the new COVID-19 Protection Framework on 3 December 2021... More>>


RNZ: Judith Collins removed as National Party leader
Dr Shane Reti is interim leader of the National Party after Judith Collins lost a no-confidence vote. Simon Bridges was demoted and stripped of all portfolios over allegations of an inappropriate comment made five years ago at a party function. Judith Collins was voted out as National's leader today after the party was locked in a caucus for more than three hours... More>>



AUT: Aucklanders Are Less Concerned With Covid
In reaction to commentary that Aucklanders are at breaking point after more than 100 days in lockdown and that compliance with the rules is under threat, AUT Emeritus Professor of Sociology Charles Crothers says... More>>

National: Launches First Step To World-class Tech Sector

Leader of the Opposition Judith Collins says technology will create exciting careers and higher paying jobs and has the potential to transform the New Zealand economy... More>>

Council For Civil Liberties: Disgraceful Government Secrecy On Vaccination Certificates As Legislation Rushed Through
On the eve of legislation to enable vaccination passes being rushed through Parliament under urgency, the Minister has said it will not publish the relevant policy papers until ‘late January 2022... More>>

 
 
 
 
 
 

LATEST HEADLINES

  • PARLIAMENT
  • POLITICS
  • REGIONAL
 
 

InfoPages News Channels