I.

CALL TO ORDER

1.

Disclosures of Pecuniary Interest

That it BE NOTED that no pecuniary interests were disclosed.

II.

CONSENT ITEMS

III.

SCHEDULED ITEMS

IV.

ITEMS FOR DIRECTION

2.

Audit Planning Report for the Year Ending December 31, 2015

That the KPMG LLP Audit Planning Report, for the year ending December 31, 2015, BE APPROVED.

3.

Quarterly Report on Internal Audit Results - Development & Compliance Services: Process and Approvals Surrounding the Inspection Phase of Site Plans and Subdivisions

That, on the recommendation of PricewaterhouseCoopers (PwC), the Action Plans identified in PwC's report dated February 23, 2016 BE IMPLEMENTED with respect to the Quarterly Reports on Internal Audit Results – Development and Compliance Services – Processes and approvals surrounding the inspection phase of site plans and subdivisions.

4.

Summary of Internal Audit Projects from 2011 to 2015

That the following actions be taken with respect to the Summary of Internal Audit Projects, 2011 to 2015, from PricewaterhouseCoopers:

a)            the above-noted summary, dated February 23, 2016 BE RECEIVED; and,

b)            the Civic Administration BE DIRECTED to report back to the Audit Committee, at a high level, with respect to actual savings realized as a result of the recommendations implemented as a result of the aforementioned audits. 

5.

Municipal Council Resolution adopted on November 24, 2015 regarding City of London's Contract and Tendering Administration Processes

That the Municipal Council resolution adopted on November 24, 2015, with respect to a proposed internal audit of London’s contract and tendering administration processes BE RECEIVED.

6.

Outsourced Internal Audit RFP Process

That the Civic Administration BE DIRECTED to continue to develop a process for the outsourced internal audit RFP, and report back to the Audit Committee at the meeting to be held on April 13, 2016 with respect to this matter.

V.

DEFERRED MATTERS/ADDITIONAL BUSINESS

VI.

CONFIDENTIAL

(See Confidential Appendix to the 2nd Report of the Audit Committee, enclosed for Members only.)

C-1.

The Audit Committee convened in camera from 5:15 PM to 5:23 PM, after having passed a motion to do so, with respect to a matter pertaining to labour relations or employee negotiations and for the purpose of providing directions and instructions to officers, employees or agents of the Corporation, as it relates to the Quarterly Report on Internal Audit Results – Development & Compliance Services: Processes and approvals surrounding the inspection phase of site plans and subdivisions.

VII.

ADJOURNMENT