Item - 2023.AU2.11
Tracking Status
- City Council adopted this item on July 19 and 20, 2023 without amendments and without debate.
- This item was considered by the Audit Committee on July 7, 2023 and adopted without amendment. It will be considered by City Council on July 19 and 20, 2023.
AU2.11 - Award of Request for Proposal Doc3872102334 to Grant Thornton LLP for External Audit Services for City Arenas, Community Centres and Other Entities
- Decision Type:
- ACTION
- Status:
- Adopted on Consent
- Wards:
- All
City Council Decision
City Council on July 19 and 20, 2023, adopted the following:
1. City Council authorize the Auditor General to enter into an agreement in the amount of $2,852,855 excluding all applicable taxes and charges, $3,223,726 including Harmonized Sales Tax and all applicable charges, $2,903,065, net of Harmonized Sales Tax recoveries, with Grant Thornton LLP being the highest ranked proponent that met all the requirements of the Request for Proposal for external audit services to perform the annual financial statement audits for the years ending December 31, 2023 to 2027 inclusive for City arenas, community centres and other entities listed in Attachment 1 to the report (June 22, 2023) from the Auditor General and the Chief Procurement Officer, on the terms and conditions set out in Request for Proposal Document Number 3872102334 and in a form satisfactory to the City Solicitor.
2. City Council direct the City Manager, in consultation with the Chief Financial Officer and Treasurer, the Controller, the City Solicitor, and Board Chairs of the City's arenas, community centres, and other entities, to assess the ability for these Boards to select and have a direct engagement with their own auditors, and perform a cost-benefit analysis to consider that approach under their governance frameworks.
Background Information (Committee)
https://www.toronto.ca/legdocs/mmis/2023/au/bgrd/backgroundfile-237808.pdf
AU2.11 - Award of Request for Proposal Doc3872102334 to Grant Thornton LLP for External Audit Services for City Arenas, Community Centres and Other Entities
- Decision Type:
- ACTION
- Status:
- Adopted
- Wards:
- All
Committee Recommendations
The Audit Committee recommends that:
1. City Council grant authority to the Auditor General to enter into an agreement in the amount of $2,852,855 excluding all applicable taxes and charges, $3,223,726 including HST and all applicable charges, $2,903,065, net of HST recoveries, with Grant Thornton LLP being the highest ranked proponent that met all the requirements of the Request for Proposal for external audit services to perform the annual financial statement audits for the years ending December 31, 2023 to 2027 inclusive for City arenas, community centres and other entities listed in Attachment 1 to the report (June 22, 2023) from the Auditor General and Chief Procurement Officer, on the terms and conditions set out in Request for Proposal Doc3872102334 and in a form satisfactory to the City Solicitor.
2. The City Manager, in consultation with the Chief Financial Officer and Treasurer, Controller, Legal Services, and Board Chairs of the City's arenas, community centres, and other entities, assess the ability for these Boards to select and have a direct engagement with their own auditors, and perform a cost-benefit analysis to consider that approach under their governance frameworks.
Origin
Summary
The purpose of this report is to advise on the results of Request for Proposal (RFP) Doc3872102334 for external audits of the annual financial statement audits for the fiscal years 2023 to 2027 inclusive for City arenas, community centres and other entities (listed in Attachment 1), and to request authority to enter into an agreement with the recommended proponent, Grant Thornton LLP.
Background Information
https://www.toronto.ca/legdocs/mmis/2023/au/bgrd/backgroundfile-237808.pdf