This week, the Lake Taupo Cycle Challenge Trustees received a 136 page audit report on the event, carried out by an independent auditor and are currently reviewing the findings.
The alleged misconduct by the former Event Director concerning spot prizes was investigated as part of the audit and was substantiated.
The report also includes a number of recommendations around governance and operational processes to improve the event, which need to be considered by the Trust and which will be shared with the public in the future. There are also a few items that will need to be kept confidential to protect the intellectual property of the Cycle Challenge.
“There is a fair amount of reading for us to do. Once we have discussed the findings as a team, information we can share will be made public,” said Trust Chairman Doug Simmons. “We want this process to be an open and transparent one so our community and sponsors feel assured that the Lake Taupo Cycle Challenge is on the right track.”
“I would like to thank the team, our sponsors and our community for their faith in this iconic Taupo event and the Trust is looking forward to a bigger and better event in 2012.”