NZICPA independent review
The council is commissioning 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)
Next steps
The procurement process to appoint an independent reviewer will be brought back to the council for approval.
Once the independent reviewer is appointed, the review is expected to be completed within six to eight weeks.
Findings will be released publicly.