Item - 2021.AU8.3
Tracking Status
- City Council adopted this item on April 7 and 8, 2021 without amendments and without debate.
- This item was considered by the Audit Committee on February 16, 2021 and adopted without amendment. It will be considered by City Council on April 7 and 8, 2021.
AU8.3 - Auditor General's 2020 Annual Report - Demonstrating the Value of the Auditor General's Office
- Decision Type:
- ACTION
- Status:
- Adopted on Consent
- Wards:
- All
City Council Decision
City Council on April 7 and 8, 2021, adopted the following:
1. City Council receive the report (February 2, 2021) from the Auditor General for information.
Background Information (Committee)
https://www.toronto.ca/legdocs/mmis/2021/au/bgrd/backgroundfile-163350.pdf
(February 3, 2021) Attachment 1 - Auditor General's 2020 Annual Report - Demonstrating the Value of the Auditor General's Office
https://www.toronto.ca/legdocs/mmis/2021/au/bgrd/backgroundfile-163351.pdf
(February 16, 2021) Presentation from the Auditor General on Auditor General's 2020 Annual Report - Demonstrating the Value of the Auditor General's Office
https://www.toronto.ca/legdocs/mmis/2021/au/bgrd/backgroundfile-164222.pdf
AU8.3 - Auditor General's 2020 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 (February 2, 2021) from the Auditor General for information.
Decision Advice and Other Information
The Auditor General gave a presentation on Auditor General's 2020 Annual Report - Demonstrating the Value of the Auditor General's Office.
Origin
Summary
This report provides information on the Auditor General's Office 2020 activities and financial and non-financial benefits achieved by the City through its implementation of report recommendations.
In 2020, the Auditor General's Office completed 7 audit and investigative and several other reports. We managed the City's Fraud and Waste Hotline with a new complaint management system that allows staff and members of the public to better provide information online, while maintaining anonymity.
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 2016, total one-time and projected five-year cost savings and revenue increases are approximately $385.3 million. The cumulative costs of operating the Auditor General's Office since 2016 were approximately $30.3 million. For every $1 invested in the Auditor General's Office, the return on investment was approximately $12.70.
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
https://www.toronto.ca/legdocs/mmis/2021/au/bgrd/backgroundfile-163350.pdf
(February 3, 2021) Attachment 1 - Auditor General's 2020 Annual Report - Demonstrating the Value of the Auditor General's Office
https://www.toronto.ca/legdocs/mmis/2021/au/bgrd/backgroundfile-163351.pdf
(February 16, 2021) Presentation from the Auditor General on Auditor General's 2020 Annual Report - Demonstrating the Value of the Auditor General's Office
https://www.toronto.ca/legdocs/mmis/2021/au/bgrd/backgroundfile-164222.pdf