31521 (2025). Hon Dr Deborah Russell to the Minister of Revenue

31521 (2025). Hon Dr Deborah Russell to the Minister of Revenue: What is the process, if any, for managing conflicts of interest by approved participating advisors?

Hon Simon Watts: In addition to adherence to an advisor’s professional body’s ethical standards, an advisor’s internal governance policies for specialist reviews are expected to have processes in place to identify and manage potential conflicts of interest. These policies are reviewed as part of the participating advisor approval process. Any review undertaken that does not adhere to the advisor’s own internal governance policies will not qualify as a participating advisor review. Where a participating advisor review is undertaken to address Inland Revenue queries, Inland Revenue is involved in setting the scope of the review with the advisor and any potential conflict of interest issues can be addressed at that time including carving out any self-review aspects where appropriate. Any matters not covered by a participating advisor review will be reviewed separately by Inland Revenue.