1ST REPORT OF THE
Audit
Committee
meeting held on December
7, 2011, commencing at 3:00 PM, in Committee Room #3, Second Floor, London City
Hall.
PRESENT: Councillor P. Hubert (Chair),
Councillors M. Brown, N. Branscombe and J. Swan, and W. DeShane and B.
Westlake-Power (Secretary).
ALSO PRESENT: M. Hayward, P.
McNally, J. Barber, J. Braam, B. Brock, D. Dhair (PwC), J. Edward, B. Edwards
(PwC), J. Freeman, A. Gilliam, S. Houde, D. Ikeno, C. Shah (PwC), T. Thompson,
R. Welker, B. Whitelaw and B. Winther.
1. None are disclosed.
2. Election of Chair and Vice Chair for the term ending November 30, 2012
Recommendation: That
Councillor Paul Hubert BE ELECTED Chair and Councillor Matt Brown BE
ELECTED Vice Chair of the Audit Committee for the term ending November 30,
2012.
Recommendation:
That the 4th Report of the Audit Committee from its meeting held on September
29, 2011 BE RECEIVED.
Recommendation: That
the following actions be taken with respect to the attached Quarterly
Report on Internal Audit Results from PricewaterhouseCoopers:
a)
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Procurement Bid
Process Internal Audit Project –
i) the
current policies and practices with respect to approved suppliers and
potential blocking of suppliers from bidding on projects BE REVIEWED;
and
ii) the
Observations and Action Plans included in the above-noted report from
PricewaterhouseCoopers BE IMPLEMENTED; it being noted that the
recently-adopted Procurement Policy incorporates some of these
recommendations;
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b)
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Brownsfield Site Development –
i) the
Civic Administration BE DIRECTED to provide an update to the Audit
Committee with respect to the previous confidential reports related to an
ethics hotline; and
ii) the
Action Plan included in the above-noted report from PricewaterhouseCoopers BE
IMPLEMENTED;
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c)
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TSD IT Governance - the Action Plan
included in the above-noted report from PricewaterhouseCoopers BE
IMPLEMENTED; it being noted that a further report back to the Audit
Committee with respect to implementation of this Action Plan was requested;
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d)
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JD Edwards IT General Controls - the Action
Plan included in the above-noted report from PricewaterhouseCoopers BE
IMPLEMENTED; and
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e)
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the proposed Internal Audit Schedule for
2012, as outlined by PricewaterhouseCoopers BE APPROVED.
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None
The meeting adjourned at 4:40 p.m.