The Strategic Governance Board oversees risk management and other governance bodies monitor specific areas of risk and performance. The Risk and Assurance Committee provides independent oversight.
We have an Enterprise Risk Management Framework based on international standards for identifying and managing risks.
We regularly discuss and update our enterprise risks, and the triggers that could cause each risk to eventuate, the consequences that could result, and the controls in place to reduce the likelihood of the risk occurring and the consequences if it did.
Our current enterprise risks are:
| Enterprise risk | Some of our controls | |
|---|---|---|
| Risk 1 | Failure to meet expectations of Government, delivering core business, Government priorities, business transformation |
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| Risk 2 | The levels of voluntary compliance are reduced to the point of having a material impact on revenue collection for the Crown |
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| Risk 3 | Unable to ensure continuity of business services |
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| Risk 4 | Insufficient people capability and capacity to deliver outcomes |
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| Risk 5 | Inland Revenue’s approach to data and information governance is sub-optimal |
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| Risk 6 | Unexpected negative customer reaction to the transformation changes | Regular engagement with customers and other stakeholders, including giving them information about and help with adopting changes. |
| Risk 7 | Failure to provide appropriate stewardship of the tax and social policy system |
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Last updated:
25 Nov 2021