Audit Committee

Report

3rd Meeting of the Audit Committee

Wednesday, June 15, 2022 at 12:00 P.m. - 1:00 P.m.

Council Chambers

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PRESENT:

• Deputy Mayor J. Morgan (Chair), 
• M. van Holst, 
• J. Helmer, 
• S. Turner, 
• and L. Higgs

ALSO PRESENT:

• A. Job and M. Schulthess.

   

  Remote Staff Attendance: L. Livingstone, A. Barbon, B. Card, I. Collins, K. denBok (KPMG), K. Dickins, D. Jaswal (MNP), P. Racco (MNP), M. Redden (KPMG), G. Rodrigues (MNP), S. Swance, P. Yeoman.

   

  The meeting is called to order at 12:00 PM; it being noted that the following were in remote attendance: Councillors M. van
  Holst, J. Helmer, S. Turner; and L. Higgs.

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1.

Disclosures of Pecuniary Interest

That it BE NOTED that no pecuniary interests were disclosed.

2.

Consent

None.

3.

Scheduled Items

None.

4.

Items for Direction

4.1

2021 Financial Audit

• That the following actions be taken:
  
  a) the 2021 Financial Report of The Corporation of the City of London BE RECEIVED; it being noted that the Audit Committee received a presentation from the Director, Financial Services with respect to this matter; and,
  
  b) the Audit Findings Report as prepared by KPMG for the year ending December 31, 2021, BE RECEIVED; it being noted that the Audit Committee received a presentation from KPMG with respect to this matter.

  
  
  
  Motion Passed

a.

2021 Financial Statements Overview

b.

Audit Findings Report for the Year Ended December 31, 2021 - KPMG

4.2

Presentation - Internal Audit Plan - MNP

• That the presentation from MNP, with respect to the internal audit plan BE RECEIVED.

  
  
  
  Motion Passed

4.3

Internal Audit Charter - MNP

• That the communication from MNP, with respect to the internal audit charter, BE RECEIVED.

  
  
  
  Motion Passed

4.4

Internal Audit Follow-Up Activities Dashboard as of June 6, 2022 - MNP

• That the communication on the agenda and the revised communication on the added agenda from MNP, with respect to the internal audit follow up activities dashboard as of June 6, 2022 and June 10, 2022 BE RECEIVED.

  
  
  
  Motion Passed

a.

(ADDED) REVISED - Internal Audit Follow-Up Activities Dashboard as of June 10, 2022 - MNP

5.

Deferred Matters/Additional Business

None.

6.

Adjournment

• That the meeting BE ADJOURNED.

  
  
  
  Motion Passed

  The meeting adjourned at 1:04 PM.