Item - 2019.CT4.7

The Board of Directors of TO Live:

1.  Received the report (May 27, 2019) from the Auditor General for information.

On an annual basis, the Auditor General reviews the implementation status of outstanding audit recommendations and reports the results to City Council through the Audit Committee.

This report provides the implementation status of the audit recommendations contained in the report entitled "Review of the Redevelopment of the Sony Centre for the Performing Arts" dated April 24, 2014.

The audit report contains 12 recommendations. In prior follow-up reviews, we determined that six recommendations have been fully implemented. During the current follow-up process, we verified that four recommendations have been fully implemented, one recommendation has been partially implemented, and one recommendation is no longer applicable.

The one remaining outstanding audit recommendation relates to a procurement policy that was recently adopted by the Board of Directors of TO Live at its meeting on May 9, 2019. We will verify implementation of this policy in the next follow-up process.

Effectiveness of policy and procedure enhancements or improved controls resulting from the implementation of audit recommendations, rely on management’s continuous efforts beyond the audit follow-up process.

On an annual basis, the Auditor General reviews the implementation status of outstanding audit recommendations and reports the results to City Council through the Audit Committee.

This report provides the implementation status of the audit recommendations contained in the report entitled "Review of the Redevelopment of the Sony Centre for the Performing Arts" dated April 24, 2014.

The audit report contains 12 recommendations. In prior follow-up reviews, we determined that six recommendations have been fully implemented. During the current follow-up process, we verified that four recommendations have been fully implemented, one recommendation has been partially implemented, and one recommendation is no longer applicable.

The one remaining outstanding audit recommendation relates to a procurement policy that was recently adopted by the Board of Directors of TO Live at its meeting on May 9, 2019. We will verify implementation of this policy in the next follow-up process.

Effectiveness of policy and procedure enhancements or improved controls resulting from the implementation of audit recommendations, rely on management’s continuous efforts beyond the audit follow-up process.