Item - 2018.AU11.1

Tracking Status

  • City Council adopted this item on March 26, 2018 without amendments and without debate.
  • This item was considered by the Audit Committee on February 7, 2018 and adopted without amendment. It will be considered by City Council on March 26, 2018.

AU11.1 - 2017 Annual Report - Demonstrating the Value of the Auditor Generalís Office

Decision Type:
ACTION
Status:
Adopted
Wards:
All

City Council Decision

City Council on March 26 and 27, 2018, adopted the following:

 

1.  City Council receive the report (January 24, 2018) from the Auditor General for information.

Background Information (Committee)

(January 24, 2018) Report from the Auditor General - 2017 Annual Report - Demonstrating the Value of the Auditor Generalís Office
https://www.toronto.ca/legdocs/mmis/2018/au/bgrd/backgroundfile-111777.pdf
Attachment 1: 2017 Annual Report - Demonstrating the Value of the Auditor Generalís Office
https://www.toronto.ca/legdocs/mmis/2018/au/bgrd/backgroundfile-111778.pdf
(February 7, 2018) Presentation material submitted by the Auditor General
https://www.toronto.ca/legdocs/mmis/2018/au/bgrd/backgroundfile-112544.pdf

AU11.1 - 2017 Annual Report - Demonstrating the Value of the Auditor Generalís Office

Decision Type:
ACTION
Status:
Adopted
Wards:
All

Committee Recommendations

The Audit Committee recommends that:

 

1.  City Council receive the report (January 24, 2018) from the Auditor General for information.

Decision Advice and Other Information

The following staff from the Auditor General's Office gave a presentation to the Audit Committee on this Item:

 

-  Beverly Romeo-Beehler, Auditor General

-  Jane Ying, Assistant Auditor General

-  Niroshani Movchovitch, Acting Senior Audit Manager.

Origin

(January 24, 2018) Report from the Auditor General

Summary

This report provides information on the Auditor General’s 2017 activities and financial and non-financial benefits.

 

In 2017, the Office issued 30 reports including 13 performance audit reports, five investigative reports, six recommendation follow-up reports, and six other reports. In addition, the Auditor General’s Fraud and Waste Hotline processed 680 complaints or 1,060 allegations in 2017.

 

The Auditor General's Office calculates the return on every dollar invested in the Office by comparing the ratio of five-year audit costs to the cumulative estimated five-year realized savings. Since 2013, total one-time and projected five-year cost savings and revenue increases are approximately $203.1 million. The cumulative costs of operating the Auditor General’s Office since 2013 were approximately $23.9 million. In simple terms, for every $1 invested in the Auditor General’s Office the return on investment was approximately $8.5.

 

The identification of cost savings and increased revenue is only one component of the Auditor General’s mandate. Equally important is the ongoing evaluation of governance, risk management and internal controls. However, the benefits resulting from these audits are not easily quantified in financial terms.

Background Information

(January 24, 2018) Report from the Auditor General - 2017 Annual Report - Demonstrating the Value of the Auditor Generalís Office
https://www.toronto.ca/legdocs/mmis/2018/au/bgrd/backgroundfile-111777.pdf
Attachment 1: 2017 Annual Report - Demonstrating the Value of the Auditor Generalís Office
https://www.toronto.ca/legdocs/mmis/2018/au/bgrd/backgroundfile-111778.pdf
(February 7, 2018) Presentation material submitted by the Auditor General
https://www.toronto.ca/legdocs/mmis/2018/au/bgrd/backgroundfile-112544.pdf

Speakers

Derek Moran

Motions

1 - Motion to Adopt Item moved by Councillor Josh Matlow (Carried)
Source: Toronto City Clerk at www.toronto.ca/council