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4TH REPORT OF THE

 

Audit Committee

 

meeting held on May 30, 2016, commencing at 8:04 AM, in the Council Chambers, Second Floor, London City Hall. 

 

PRESENT:  Councillor P. Hubert (Chair), Councillors A. Hopkins, S. Turner and M. van Holst, S. Khullar and B. Westlake-Power (Secretary). 

 

ALSO PRESENT:  Councillor J. Helmer; J.P. Barber, A.L. Barbon, J. Braam, K. den Bok (KPMG), M. Hayward, I. Jefferies (KPMG), V. McAlea Major, D. McLean (PwC), C. Shah (PwC), C. Smith, J. Smout, S. Swance and M. Tomazincic. 

 

 

I.

CALL TO ORDER

 

1.

Disclosures of Pecuniary Interest

 

That it BE NOTED that no pecuniary interests were disclosed. 

 

II.

CONSENT ITEMS

 

None.

 

III.

SCHEDULED ITEMS

 

None. 

 

IV.

ITEMS FOR DIRECTION

 

2.

Internal Audit Services

 

That, on the recommendation of the Managing Director, Corporate Services and City Treasurer, Chief Financial Officer, the following actions be taken with respect to internal audit services for The Corporation of the City of London:

 

a)         the current model of outsourced internal audit services BE CONTINUED; and,

 

b)         the Civic Administration BE DIRECTED to develop a Request for Proposal for Internal Audit Services for approval at the June 13, 2016 meeting of the Audit Committee; it being understood that the Audit Committee can request that amendments or additional requirements be added to the original RFP document issued in 2010;

 

it being noted that the Audit Committee received the attached presentation from A.L. Barbon, Director, Financial Services.

 

3.

RFP 16-31 External Audit Services

 

That, on the recommendation of the Managing Director, Corporate Services and City Treasurer, Chief Financial Officer, the staff report dated May 30, 2016, regarding RFP 16-31 - External Audit Services, BE RECEIVED for information.

 

V.

DEFERRED MATTERS/ADDITIONAL BUSINESS

 

None.

 

VI.

ADJOURNMENT

 

The meeting adjourned at 9:29 AM.