The filed record
2019 Annual Report - Demonstrating the Value of the Auditor General's Office
The Public Gallery wrote no story on this item. What follows is the city’s own record of what happened to it, as filed: nothing on this page is summarised or scored by us.
The decision
2020-06-29 · Toronto City Council · adopted
As filed
City Council on June 29 and 30, 2020, adopted the following: 1. City Council receive the report (January 27, 2020) from the Auditor General for information.
On the agenda
As the city filed it
This report provides information on the Auditor General's Office 2019 activities and financial and non-financial benefits. In 2019, the Auditor General's Office completed 14 performance audits, investigations, and reviews, and issued several other reports. We also conducted our regular follow-up process for outstanding recommendations and managed the City's Fraud and Waste Hotline. The Auditor General's Office calculates the return on every dollar invested in the Office by comparing the ratio of five-year audit costs to the cumulative estimated five-year realized savings.
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Since 2015, total one-time and projected five-year cost savings and revenue increases are approximately $318.8 million. The cumulative costs of operating the Auditor General's Office since 2015 were approximately $27.6 million. For every $1 invested in the Auditor General's Office, the return on investment was approximately $11.5. The identification of cost savings and increased revenue is only one component of the Auditor General's mandate. Equally important is the ongoing evaluation of governance, risk management and internal controls, the impacts of which are not always easily quantified in financial terms.
Staff recommended
The Auditor General recommends that: 1. City Council receive this report for information.
Considered
2020-02-10 · Audit Committee · adopted
Decision as filed
The Audit Committee recommends that: 1. City Council receive the report (January 27, 2020) from the Auditor General for information.
Clerk’s note
The following City staff gave a presentation to the Audit Committee on this Item: - Ina Chan, Assistant Auditor General - Niroshani Movchovitch, Senior Audit Manager
2020-06-29 · Toronto City Council · adopted
On the record
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