Waimea Water_AR_V14_LR

WAIMEA WATER LIMITED | ANNUAL REPORT 2019
GOVERNANCE
Governance
Corporate Governance
The WWL Board is committed to a high standard of
corporate governance and regulatory compliance in guiding
and monitoring WWL’s activities.
The Board carries out its accounting, reporting, risk
management and decision-making responsibilities in
accordance with legislation and the directors comply with
their obligations under the Companies Act 1993, the Local
Government Act 2002 and other relevant legislation.
Board performance is evaluated on an annual basis.
Directors are appointed for a period of four years.
The Board has seven highly experienced directors
appointed by shareholders and iwi, as follows:
Tasman District Council - 4, Waimea Irrigators Ltd - 2 and
Ngāti Koata - 1.
Corporate Structure
The WWL Board is supported by four committees
that consist of subgroups of directors and staff. The
committees provide governance and assurance across
audit and risk; human resources; design and construction;
and sustainability and communities. The management of
WWL works to a management system approved by the
Board that provides systems for management of change;
risk management; authorities and financial controls;
budget controls; organisation preservation and regulatory
compliance. An external audit is completed annually for the
Board by Audit NZ.
STAKEHOLDERS
BOARD
Delegation
Accountability
Audit & Risk
Committee
Human Resources &
Compensation
Committee
Chief Executive Officer
Design &
Construction
Assurance
Sustainability &
Communities
Committee
Management Governance and Assurance
Independent
Assurance
External Audit
Management of Change
Risk Management
Authorites & Financial Controls
Waimea
Water
Waimea Water
Management System
Budget Controls
Organisation Preservation
Regulatory Compliance
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