Inland Revenue takes a holistic and integrated view of all our risk and assurance related activities. Our executive-led governance board oversees risk management, and other governance bodies monitor specific areas of risk and performance.
We have an Enterprise Risk Management Framework based on international standards for identifying and managing risks.
We regularly discuss and update these risks, alongside 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
Risk 1
Failure to meet expectations of Government, delivering core business, Government priorities, business transformation.
Some of our controls
- Our transformation-specific governance.
- Developing tax policy through the generic tax policy process.
- Regular meetings with Ministers.
Risk 2
The levels of voluntary compliance are reduced to the point of having a material impact on revenue collection for the Crown.
Some of our controls
- Developing tax policy through the generic tax policy process.
- Education and marketing campaigns to help customers understand and meet their obligations.
- Putting customers at the centre of everything we do.
Risk 3
Unable to ensure continuity of business services.
Some of our controls
- Our cyber security and monitoring processes.
- Our incident management process.
- Our business continuity plans.
Risk 4
Insufficient people capability and capacity to deliver outcomes.
Some of our controls
- Our human resources policies and processes, including our capability-based learning and development approach.
- Our business planning processes.
- Our executive governance framework.
Risk 5
Inland Revenue’s approach to data and information governance is sub-optimal.
Some of our controls
- Our information classification and handling policy and processes.
- Our system access controls.
- Our process for developing information-sharing proposals.
Risk 6
Unexpected negative customer reaction to the transformation changes.
Some of our controls
- 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.
Some of our controls
- Engagement with external tax industry stakeholders and customers.
- Regular interactions with other tax jurisdictions about emerging trends in the wider taxation environment.