Item - 2026.TTC14.12
Tracking Status
- This item was considered by Toronto Transit Commission on April 16, 2026 and was adopted without amendment.
TTC14.12 - Updates to the Audit & Risk Management Committee Terms of Reference
- Decision Type:
- ACTION
- Status:
- Adopted
Commission Decision
The TTC Board:
1. Approved the Audit, Finance and Risk Management Committee Terms of Reference, attached as Attachment 1.
Origin
Summary
This report is before the Board to seek approval of the revised Terms of Reference for the Audit, Finance and Risk Management Committee. The revisions modernize and clarify the Committee’s mandate by expanding oversight responsibilities in key areas, including finance, enterprise risk management, enterprise asset management, safety, and ethical and legal compliance, while strengthening authority, role clarity, and member competency expectations. The updates align the Committee’s governance framework with current best practices, City accountability requirements, and the TTC Corporate Plan to support effective Board oversight.
Background Information
https://www.toronto.ca/legdocs/mmis/2026/ttc/bgrd/backgroundfile-285937.pdf
Attachment 1 - Terms of Reference - Audit, Finance and Risk Management Committee
https://www.toronto.ca/legdocs/mmis/2026/ttc/bgrd/backgroundfile-285938.pdf