NBR Article: Local bodies need risk management booster

The following is courtesy of the National Business Review (NBR) and relates to the local government risk management survey conducted by Datasouth Corporate Services.

Risk management practices at local government level have slumped to the point where they are now labelled an indictment on the sector, according to a new survey.

While 67% of councils had a formal risk management policy, more than half rated their strategy "average" or "below" average, according to a poll of 26 councils by Christchurch-based consultancy firm Datasouth Corporate Services.

Alarmingly, only a third of councils with risk management plans reviewed them only as required and had no formal periodic review period...

The full article can be viewed and downloaded here or in the February 16th issue of NBR.