Dirty Rotten Scoundrels

17 Oct

Audit and Risk meeting at 8am on Tuesday morning.  Of the six members listed, one is a Holdco director, three are subsidiary directors, one will possibly be absent.  Lewis is the chair and the subject in public excluded is ‘Uncalled Capital’.  Can one person discuss a topic or make a recommendation?  Let alone ‘negotiate’.

Some other councillors better be going along to oversee how this works.  Would anyone like to knowingly endorse a recommendation that comes from that meeting?

UPDATE:  Here is the document Alan refers to.  Any easy game of ‘spot the difference’ with reality…who is the independent member?

Advertisements

3 Responses to “Dirty Rotten Scoundrels”

  1. Alan October 17, 2014 at 4:55 pm #

    From; – I.C.C.’s Audit and Risk Committee Charter.

    Selected items.-
    Composition; – —shall consist of three Councillors and at least one independent member of the public appointed by the Council. Ideally at least two members
    should have experience in financial reporting —-

    The independent member will be appointed, initially for three years and will receive remuneration
    The Committee Chairperson shall be one of the elected members. The mayor
    and Chairman of Finance and Policy may not be the Chairperson.
    The C.E.O. and other council staff will not be members but may attend meetings and observe.

    The Committee through the chair will report regularly but at least twice a year
    on its activities. Including;- a) A summary of the work the Committee performed in discharging its responsibilities b ) A overall assessment of the I.C.C’s risk, control and compliance framework including any details of any significant, emerging risk impacting on the I.C.C.
    The Council will be routinely provided with the Minutes of the Audit and Risk Committee meetings.

    Meetings.
    The Committee will meet at least four times a year. Also as requested to do so by Council or a Committee member.
    Meetings of the Committee are to be held during Normal Council Office Hours.
    Meetings of the Committee will be conducted in accordance with Standing Orders.
    A quorum will consist of a majority of Committee members which is three.
    The independent should ideally always be present.
    All councillors who are not members of the Committee shall have the right to attend but not vote.
    The Mayor. C.E.O. and internal and external audit representatives will be invited to attend each meeting unless requested not to by the Chairperson.

    Conflict of Interest.
    The interest provisions of the L.G.A. apply to the Committee members and Council employees who provide advice.

    Review of Charter.
    This Charter will be reviewed initially in twelve months time (13 March 2013)
    and thereafter as practicable after the start of each new term

    • Realist October 17, 2014 at 7:29 pm #

      Interesting that Dean has put the Paper as DOF to the committee yet he is also the CE of ICHL (there’s a conflict to start with) and I can only see this as trying to exert a bit of pressure on those able to vote during deliberations later in the morning.

      What should be very scary is this item should have been through the A&R Committee a long time ago

      • Philip T October 18, 2014 at 11:05 am #

        Its like a great big greasy octopus with tentacles going in all directions. To many people are trying to wear to many hats. Johnson is an employee of the council and they are the shareholders of Holdco so who asks the hard questions? The set up is wrong and they all know it but why would any of them say anything when they are doing so nicely from their political appointments.

Got something to say?

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

%d bloggers like this: