Item - 2020.AU5.2

Tracking Status

  • City Council adopted this item on June 29, 2020 without amendments and without debate.
  • This item was considered by the Audit Committee on February 10, 2020 and adopted without amendment. It will be considered by City Council on June 29, 2020.

AU5.2 - 2019 Annual Report - Demonstrating the Value of the Auditor General's Office

Decision Type:
ACTION
Status:
Adopted
Wards:
All

City Council Decision

City Council on June 29 and 30, 2020, adopted the following:  

 

1. City Council receive the report (January 27, 2020) from the Auditor General for information.

Background Information (Committee)

(January 27, 2020) Report from the Auditor General - 2019 Annual Report - Demonstrating the Value of the Auditor General's Office
https://www.toronto.ca/legdocs/mmis/2020/au/bgrd/backgroundfile-145393.pdf
Attachment 1: 2019 Annual Report - Demonstrating the Value of the Auditor General's Office
https://www.toronto.ca/legdocs/mmis/2020/au/bgrd/backgroundfile-145394.pdf
Video Link - 2019 Annual Report - Demonstrating the Value of the Auditor Generalís Office
https://www.toronto.ca/legdocs/mmis/2020/au/bgrd/backgroundfile-145876.pdf
(February 10, 2020) Presentation Material submitted by the Auditor General
https://www.toronto.ca/legdocs/mmis/2020/au/bgrd/backgroundfile-146124.pdf

AU5.2 - 2019 Annual Report - Demonstrating the Value of the Auditor General's Office

Decision Type:
ACTION
Status:
Adopted
Wards:
All

Committee Recommendations

The Audit Committee recommends that:  

 

1. City Council receive the report (January 27, 2020) from the Auditor General for information.

Decision Advice and Other Information

The following City staff gave a presentation to the Audit Committee on this Item:

 

- Ina Chan, Assistant Auditor General

- Niroshani Movchovitch, Senior Audit Manager

Origin

(January 27, 2020) Report from the Auditor General

Summary

This report provides information on the Auditor General's Office 2019 activities and financial and non-financial benefits.

 

In 2019, the Auditor General's Office completed 14 performance audits, investigations, and reviews, and issued several other reports. We also conducted our regular follow-up process for outstanding recommendations and managed the City's Fraud and Waste Hotline.

 

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 2015, total one-time and projected five-year cost savings and revenue increases are approximately $318.8 million. The cumulative costs of operating the Auditor General's Office since 2015 were approximately $27.6 million. For every $1 invested in the Auditor General's Office, the return on investment was approximately $11.5.

 

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, the impacts of which are not always easily quantified in financial terms.

Background Information

(January 27, 2020) Report from the Auditor General - 2019 Annual Report - Demonstrating the Value of the Auditor General's Office
https://www.toronto.ca/legdocs/mmis/2020/au/bgrd/backgroundfile-145393.pdf
Attachment 1: 2019 Annual Report - Demonstrating the Value of the Auditor General's Office
https://www.toronto.ca/legdocs/mmis/2020/au/bgrd/backgroundfile-145394.pdf
Video Link - 2019 Annual Report - Demonstrating the Value of the Auditor Generalís Office
https://www.toronto.ca/legdocs/mmis/2020/au/bgrd/backgroundfile-145876.pdf
(February 10, 2020) Presentation Material submitted by the Auditor General
https://www.toronto.ca/legdocs/mmis/2020/au/bgrd/backgroundfile-146124.pdf

Speakers

Derek Moran

Motions

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