Item - 2022.AU13.2
Tracking Status
- City Council adopted this item on July 19, 20, 21 and 22, 2022 without amendments and without debate.
- This item was considered by Audit Committee on July 11, 2022 and was adopted with amendments. It will be considered by City Council on July 19, 20, 21 and 22, 2022.
AU13.2 - The City of Toronto Audit Findings Report for the Year Ended December 31, 2021
- Decision Type:
- ACTION
- Status:
- Adopted on Consent
- Wards:
- All
City Council Decision
City Council on July 19, 20, 21 and 22, 2022, adopted the following:
1. City Council request the Auditor General to direct the City's external auditor to promptly report to the Audit Committee any identified control deficiencies determined to be of significant importance to merit the attention of management or those charged with governance.
2. City Council direct the City Manager to implement the 55 recommendations in the Management letter (December 15, 2021) from KPMG LLP (for the year 2020), in alignment with implementation timelines.
3. City Council request the Chief Financial Officer and Treasurer to track the progress, in consultation with the responsible divisional leaders, on addressing the 55 recommendations in the Management letter (December 15, 2021) from KPMG LLP (for the year 2020), and any subsequent recommendations, and to report at least twice annually through the Variance Report to City Council, until such time as implementation is complete.
Background Information (Committee)
https://www.toronto.ca/legdocs/mmis/2022/au/bgrd/backgroundfile-228125.pdf
(December 15, 2021) Management letter from KPMG for the City of Toronto on audit completed for 2020 fiscal year
https://www.toronto.ca/legdocs/mmis/2022/au/bgrd/backgroundfile-228438.pdf
(July 11, 2022) Presentation from Controller, Finance and Treasury Services on KPMG Audit Recommendations
https://www.toronto.ca/legdocs/mmis/2022/au/bgrd/backgroundfile-228592.pdf
AU13.2 - The City of Toronto Audit Findings Report for the Year Ended December 31, 2021
- Decision Type:
- ACTION
- Status:
- Amended
- Wards:
- All
Committee Recommendations
The Audit Committee recommends that:
1. City Council request the Auditor General to direct the City's external auditor to promptly report to the Audit Committee any identified control deficiencies determined to be of significant importance to merit the attention of management or those charged with governance.
2. City Council direct the City Manager to implement the 55 recommendations in the Management letter (December 15, 2021) from KPMG LLP (for the year 2020), in alignment with implementation timelines.
3. City Council request the Chief Financial Officer and Treasurer to track the progress, in consultation with the responsible divisional leaders, on addressing the 55 recommendations in the Management letter (December 15, 2021) from KPMG LLP (for the year 2020), and any subsequent recommendations, and to report at least twice annually through the Variance Report to City Council, until such time as implementation is complete.
Decision Advice and Other Information
Kevin Travers, Lead Audit Engagement Partner, KPMG LLP and Maria Khoushnood, Project Management Partner, KPMG LLP gave a presentation on The City of Toronto Audit Findings Report for the Year Ended December 31, 2021.
The Controller, Finance and Treasury Services gave a presentation on KPMG Audit Recommendations.
Summary
Kevin Travers, Lead Audit Engagement Partner, KPMG LLP and Maria Khoushnood, Project Management Partner, KPMG LLP will give a presentation on The City of Toronto Audit Findings Report for the Year Ended December 31, 2021.
Background Information
https://www.toronto.ca/legdocs/mmis/2022/au/bgrd/backgroundfile-228125.pdf
(December 15, 2021) Management letter from KPMG for the City of Toronto on audit completed for 2020 fiscal year
https://www.toronto.ca/legdocs/mmis/2022/au/bgrd/backgroundfile-228438.pdf
(July 11, 2022) Presentation from Controller, Finance and Treasury Services on KPMG Audit Recommendations
https://www.toronto.ca/legdocs/mmis/2022/au/bgrd/backgroundfile-228592.pdf
Motions
That the Audit Committee recommend that:
1. City Council request the Auditor General to direct the City's external auditor to promptly report to the Audit Committee any identified control deficiencies determined to be of significant importance to merit the attention of management or those charged with governance.
2. City Council direct the City Manager to implement the 55 recommendations in the Management letter (December 15, 2021) from KPMG LLP (for the year 2020), in alignment with implementation timelines.
3. City Council request the Chief Financial Officer and Treasurer to track the progress, in consultation with the responsible divisional leaders, on addressing the 55 recommendations in the Management letter (December 15, 2021) from KPMG LLP (for the year 2020), and any subsequent recommendations, and to report at least twice annually through the Variance Report to City Council, until such time as implementation is complete.