Ngāti Paoa Iwi Trust and its commercial arm Ngāti Paoa Group Investments presented their
audited financial statements for the 2017 year at Waiti Marae on Saturday 10 November.
Iwi Trust Chair Gary Thompson said “The Auditors signed off on an unqualified basis and no
issues were noted in their professional opinion. This is great for the Iwi Trust and more
importantly for the Iwi. It was a great meeting!”
To assist with any queries the Auditor, Wayne Tukiri, an associate Director with RSM, one of
the largest accounting practices in the world was on hand at the marae to answer questions.
The Kaiārahi for the Iwi Trust Haydn Solomon said “Our Chair Gary Thompson wanted to
really set the benchmark for reporting, transparency and accountability. So, we decided to
double-down and present all our audited accounts for 2015, 2016 and 2017. We had the
Auditor attend so Iwi members could speak to him and ask questions. Then, we launched an
Iwi App and uploaded the presentation and information before our meeting started so our
whanau can see for themselves the results and good things we are doing no matter where
they are in the world.” Said Mr Solomon.
audited financial statements for the 2017 year at Waiti Marae on Saturday 10 November.
Iwi Trust Chair Gary Thompson said “The Auditors signed off on an unqualified basis and no
issues were noted in their professional opinion. This is great for the Iwi Trust and more
importantly for the Iwi. It was a great meeting!”
To assist with any queries the Auditor, Wayne Tukiri, an associate Director with RSM, one of
the largest accounting practices in the world was on hand at the marae to answer questions.
The Kaiārahi for the Iwi Trust Haydn Solomon said “Our Chair Gary Thompson wanted to
really set the benchmark for reporting, transparency and accountability. So, we decided to
double-down and present all our audited accounts for 2015, 2016 and 2017. We had the
Auditor attend so Iwi members could speak to him and ask questions. Then, we launched an
Iwi App and uploaded the presentation and information before our meeting started so our
whanau can see for themselves the results and good things we are doing no matter where
they are in the world.” Said Mr Solomon.
“Because of the way the Crown drafted our constitution we’re not required to provide a financial audit or elections until after settlement. However, in the interests of providing full transparency to the Iwi, the initial Trustees Gary Thompson and Bryce Heron made their own decision to start providing proper audited financial statements from 2015 onwards and to appoint new Trustees to help them with the increasing workload.” Says Mr Solomon.
In addition to Mr Thompson and Heron, the newly appointed Trustees were James Ratahi, Tania Tarawa, Gwen Te Pania-Palmer, Jasmine Castle and David Gray (independent). This gives the Iwi Trust a full board of seven Trustees.
Newly appointed and Iwi endorsed Trustee James Ratahi said for the whanau it was of the best meetings to be part of. ‘The whanau were buzzing! You could feel the wairua, the aroha and the kotahitanga.’ Said Mr Ratahi.
“As a new Trustee I am humbled and privileged to have an opportunity to serve my Iwi. I want to acknowledge the leadership of the Chair Gary Thompson and independent Trustee Bryce Heron. They have laid a strong foundation and example for us as new Trustees to build on.” Said Mr Ratahi.
In addition to Mr Thompson and Heron, the newly appointed Trustees were James Ratahi, Tania Tarawa, Gwen Te Pania-Palmer, Jasmine Castle and David Gray (independent). This gives the Iwi Trust a full board of seven Trustees.
Newly appointed and Iwi endorsed Trustee James Ratahi said for the whanau it was of the best meetings to be part of. ‘The whanau were buzzing! You could feel the wairua, the aroha and the kotahitanga.’ Said Mr Ratahi.
“As a new Trustee I am humbled and privileged to have an opportunity to serve my Iwi. I want to acknowledge the leadership of the Chair Gary Thompson and independent Trustee Bryce Heron. They have laid a strong foundation and example for us as new Trustees to build on.” Said Mr Ratahi.
Iwi member Tau Paora Ngaruhe said “It was a really productive and uplifting meeting. Great outcomes with the financial report and endorsement of the new Trustees. But the best part was we came away feeling informed. We felt like we knew what was going on for once.” ‘On the down side, we are concerned about how we are being treated in the Pouarua Farm investment.
We are concerned we only have 20% in Auckland from the Marutūāhu Settlement when we know we hold the majority interests. However, what we are not concerned about are the comments from Shane Jones who should learn to mind his own business and stay in his own lane.’’ Said Paora-Ngaruhe.
We are concerned we only have 20% in Auckland from the Marutūāhu Settlement when we know we hold the majority interests. However, what we are not concerned about are the comments from Shane Jones who should learn to mind his own business and stay in his own lane.’’ Said Paora-Ngaruhe.
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