NZICPA independent review

The council has commissioned an independent review of its investment in the New Zealand International Commercial Pilot Academy (NZICPA).

This review is being carried out following financial losses after the council’s investment in NZICPA.

It will provide a clear understanding of key decisions, governance arrangements, and the factors that contributed to the council’s financial exposure.

A focus will be identifying lessons to strengthen future decision-making and investment processes.

Background

NZICPA was established to deliver commercial pilot training and support economic development in Whanganui.

Over time, the council approved a range of decisions relating to funding and ongoing support for the academy.

NZICPA’s operating environment was significantly affected by external economic factors, including the COVID-19 pandemic, which led to a reduction in student enrolments.

The NZICPA is now in the process of winding down.

Given the level of public investment, the council is commissioning an independent review to provide transparency and inform future investment decisions.

Scope and focus of the review

The independent review will examine key decisions made over the lifecycle of NZICPA, along with the governance and oversight arrangements in place at the time.

The review will consider:

• key decision points that affected the council’s financial exposure
• governance structures, roles and accountabilities in place at the time
• the information, advice and analysis provided to decision-makers
• how risks were identified, assessed and managed
• how external factors influenced decision-making.

The review is not intended to be a full operational audit of NZICPA.

It is not intended to assign individual blame. Instead, it focuses on decision-making, governance and identifying practical lessons to strengthen future council oversight and investment decisions.

The final report is expected to include a summary of key findings and recommendations.

Terms of Reference(PDF, 432KB)

Who is completing the review 

Following a robust procurement process, Deloitte has been appointed to undertake the independent review. They will independently review relevant documentation and engage with key people involved in NZICPA’s governance, oversight and decision-making.

Timing and cost 

The review is now underway and is expected to be completed in December 2026, with the final report expected to be presented to the council that month. The cost of the review is $90,000 excluding GST. 

Next steps

The independent review is now underway. 

The council expects the final report to be made publicly available, subject to any information that is required by law to be withheld.