Audit Committee

That the Audit Committee recommend that Council, sitting as Committee of the Whole, approve the Audit Committee 2025 Draft Budget as follows: Operating Resource Requirement – Office of the Auditor General (p. 2); Operating Resource Requirement – External and Special Audits (p. 4).

WHEREAS the report and supporting documents for item 5.2 titled “Office of the Auditor General (OAG) – Fraud Investigation Report” was not circulated with the agenda package; THEREFORE BE IT RESOLVED that the Audit Committee approve the addition of these documents for consideration by the Committee at today’s meeting, pursuant to Section 89(3) of the Procedure By-law (being By-law no. 2022-410).

WHEREAS the Office of the Auditor General (OAG) provided an Audit on Enterprise Risk to the City in June of 2022; and WHEREAS this audit found that there were a number of opportunities to improve and strengthen current risk management practices across the City; and WHEREAS some of these improvements could help identify and mitigate the risks of fraud and corruption within the City; and WHEREAS in response to the audit, staff provided Q4 2023 as the date before which all audit recommendations would be resolved; and WHEREAS some audit recommendations remain unresolved. THEREFORE BE IT RESOLVED THAT staff be directed to provide an update on the status of recommendations identified in the OAG Audit on Enterprise Risk Management; and BE IT FURTHER RESOLVED THAT this update include a detailed review of each audit recommendation, including its current completion status; and BE IT FURTHER RESOLVED that, in the event that any audit recommendations remain incomplete, staff be directed to provide explanations as to why the self-imposed timelines for completion have been missed; and BE IT FURTHER RESOVLED that for any incomplete audit recommendations, staff provide a new completion timelines; and BE IT FURTHER RESOLVED that this update be provided during the February 2025 meeting of the Audit Committee.