Item - 2021.AU8.12

Tracking Status

This item was considered by Audit Committee on February 16, 2021 and was adopted without amendment.

AU8.12 - City of Toronto Audit Planning Report for the Year Ending December 31, 2020

Decision Type:: ACTION

Status:: Adopted

Wards:: All

Committee Decision

The Audit Committee:

1. Received the City of Toronto Audit Planning Report for the Year Ending December 31, 2020 (November 13, 2020) from Kevin Travers, Lead Audit Engagement Partner, City of Toronto and Related Entities, KPMG LLP and Paul Simonetta, Executive Relationship Partner, KPMG LLP for information.

Origin

(November 13, 2020) Report from Kevin Travers, Lead Audit Engagement Partner, City of Toronto and Related Entities, KPMG LLP, and Paul Simonetta, Executive Relationship Partner, KPMG LLP

Summary

KPMG LLP presenting the City of Toronto Audit Planning Report for the Year Ending December 31, 2020 for the 2020 audit of the consolidated financial statements for the City of Toronto, prepared in accordance with Canadian Public Sector Accounting Standards.

The City of Toronto Audit Planning Report for the Year Ending December 31, 2020 includes KPMG LLP's views on COVID-19, group reporting, audit and business risks, audit materiality, quality control, initial audit engagement, and current developments and audit trends.

Background Information

(November 13, 2020) Report from Kevin Travers, Lead Audit Engagement Partner, City of Toronto and Related Entities, KPMG LLP, and Paul Simonetta, Executive Relationship Partner, KPMG LLP on City of Toronto Audit Planning Report for the Year Ending December 31, 2020
https://www.toronto.ca/legdocs/mmis/2021/au/bgrd/backgroundfile-160014.pdf

Motions

Motion to Adopt Item moved by Councillor Frances Nunziata (Carried)