Item - 2025.TTA1.3

Tracking Status

This item was considered by Toronto Transit Commission - Audit & Risk Management Committee on March 24, 2025 and was adopted without amendment.

TTA1.3 - Audit, Risk and Compliance - 2024 Audit Plan Status Update

Decision Type:: ACTION

Status:: Adopted

Caution: Preliminary decisions and motions are shown below. Any decisions or motions should not be considered final until the meeting is complete, and the decisions for this meeting have been confirmed.

Confidential Attachment - This report contains information related to the security of the property of the municipality or local board.

Commission Decision

The Audit & Risk Management Committee:

1. Received this report for information; and

2. Received the Confidential Attachment and authorized that the information contained in the Confidential Attachment remain confidential as it relates to the security of the property of the municipality or local board.

Origin

(March 24, 2025) Report from the Head of Audit, Risk and Compliance

Summary

The Audit, Risk and Compliance Department (ARC) 2024 Audit Plan was presented and approved by the Audit & Risk Management Committee (ARMC) on November 14, 2023. The list of audit assurance projects identified for completion in 2024 is performed in addition to advisory and special requests subsequently put forward for ARC’s consideration.

As of the date of this update, final reports have been issued for three 2024 projects. ARC has also essentially completed fieldwork and is progressing through the reporting phase for two other 2024 projects.

This report provides information with respect to ARC’s progress on 2024 Audit Plan items, as well as details of the one final report issued since ARC’s last update.

Background Information

(March 24, 2025) Report and Attachments 2, 3, 4 and 5 from the Head of Audit, Risk and Compliance on Audit, Risk and Compliance - 2024 Audit Plan Status Update
https://www.toronto.ca/legdocs/mmis/2025/tta/bgrd/backgroundfile-253567.pdf
(March 24, 2025) Confidential Attachment 1

Motions

Motion to Adopt Item moved by Julie Osborne (Carried)

It is recommended that the Audit & Risk Management Committee:

1. Receive this report for information; and

2. Receive the Confidential Attachment and authorize that the information contained in the Confidential Attachment remain confidential as it relates to the security of the property of the municipality or local board.