4TH REPORT OF THE

 

Audit Committee

 

meeting held on June 23, 2015, commencing at 4:02 PM, in the Council Chambers, Second Floor, London City Hall. 

 

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

 

ABSENT:  S. Khullar.

 

ALSO PRESENT:  Councillors J. Helmer and J. Zaifman; and J.P. Barber, A.L. Barbon, J. Braam, K. den Bok (KMPG), D. Dobson, S. Gilfillan (PwC), M. Hayward, I. Jefferies (KPMG), K. Medinilla, C. Shah (PwC) and S. Swance.

 

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.	2014 Financial Audit

 

That the following actions be taken with respect to the 2014 Financial Audit and Audit Findings Report 2014, as prepared by KPMG:

 

a)         the 2014 Financial Report of The Corporation of the City of London BE RECEIVED; and

 

b)         the Audit Findings Report for the year ending December 31, 2014 BE RECEIVED;

 

it being noted that the Audit Committee received the attached presentation from the Director, Financial Services and a verbal presentation from KPMG with respect to these matters and the attached, revised presentation pages.

 

3.	Quarterly Report on Internal Audit Results

 

That the Risk Assessment and 2015 Performance-Based Audit Plan identified in the PricewaterhouseCoopers’ (PwC) report dated June 23, 2015, BE APPROVED; it being noted that the Audit Plan includes the additional project of “Housing, Social Services & Dearness Home: Long-term care – Governance, oversight and structure review”.

 

V.	DEFERRED MATTERS/ADDITIONAL BUSINESS

 

None.

 

 

 

 

 

 

 

VI.	CONFIDENTIAL

 

(See Confidential Appendix to the 4th Report of the Audit Committee enclosed for Members only.)

 

The Audit Committee convened in camera from 5:21 PM to 5:27 PM after having passed a motion to do so, with respect to the following matter:

 

C-1.

A matter pertaining to personal matters about identifiable individuals, including municipal employees, with respect to employment-related matters, and related to labour relations or employee negotiations, advice or recommendations of officers and employees of the Corporation, including communications necessary for that purpose with respect to the status of past project action plans.

 

VII.	ADJOURNMENT

 

            The meeting adjourned at 5:28 PM.