Item - 2023.PA6.2

Tracking Status

This item was considered by Toronto Parking Authority on October 6, 2023 and was adopted without amendment.

PA6.2 - Toronto Parking Authority Enterprise Risk Management Update Report

Decision Type:: ACTION

Status:: Adopted

Wards:: All

Board Decision

The Board of Directors of the Toronto Parking Authority received the report (August 24, 2023) from the President, Toronto Parking Authority, for information.

Origin

(August 24, 2023) Report from the President, Toronto Parking Authority

Summary

Enterprise Risk Management is a continuous process to identify and assess risks and opportunities at an enterprise level. The Toronto Parking Authority currently does not have a formal Enterprise Risk Management strategy and after the release of a Request for Proposals in the second quarter of 2023, the successful proponent, KPMG LLP, was engaged to support the setup of the Enterprise Risk Management Program.

The purpose of this report is for KPMG to provide an overview of the Enterprise Risk Management Project and to provide a status update.

Background Information

(September 8, 2023) Decision Letter from the Toronto Parking Authority - Audit and Risk Management Committee
https://www.toronto.ca/legdocs/mmis/2023/pa/bgrd/backgroundfile-239201.pdf
(August 24, 2023) Report from the President, Toronto Parking Authority on Toronto Parking Authority Enterprise Risk Management Update Report
https://www.toronto.ca/legdocs/mmis/2023/pa/bgrd/backgroundfile-239192.pdf
Attachment 1 - KPMG Report: Toronto Parking Authority - Enterprise Risk Managemen Project Overview September 2023
https://www.toronto.ca/legdocs/mmis/2023/pa/bgrd/backgroundfile-239191.pdf

Motions

Motion to Adopt Item moved by Jeffrey Steiner (Carried)