Contract Award of Request for Proposal No. 9119-19-7141 (Doc2038917448) to KPMG LLP for External Audit Services for the City and Certain of its Agencies and Corporations

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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 appoint KPMG LLP as the auditor licensed under the Public Accounting Act, 2004 who is responsible for annually auditing the accounts and transactions of the City and certain of its local boards and expressing an opinion on the financial statements of these bodies based on the audit. 2. City Council authorize the Auditor General to negotiate and

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enter into an agreement in the amount of $6,733,000 excluding all applicable taxes and charges, $7,608,290 including HST and all applicable charges ($6,851,501 net of HST recoveries), with KPMG LLP being the highest ranked proponent meeting the requirements of the Request for Proposal for external audit services to perform the annual financial statement audits for the years 2020 to 2024 inclusive for the City of Toronto and certain of its agencies and corporations, as well as other attest audits of financial information as described in the Request for Proposal, as outlined in Attachment 1 to the report (January 24, 2020) from the Auditor General, on the terms and conditions set out in Request for Proposal 9119-19-7141(Doc2038917448) and in a form satisfactory to the City Solicitor. 3. City Council authorize the public release of Confidential Attachment 2 to the report (January 24, 2020) from the Auditor General, upon KPMG LLP signing the contract. Confidential Attachment 2 to the report (January 24, 2020) from the Auditor General remains confidential at this time in accordance with the provisions of the City of Toronto Act, 2006, as it concerns the security of the property belonging to the City of Toronto and certain of its agencies and corporations. Confidential Attachment 2 to the report (January 24, 2020) from the Auditor General will be made public upon KPMG LLP signing the contract.

On the agenda

As the city filed it

The purpose of this report is to advise on the results of Request for Proposal (RFP) No. 9119-19-7141 (Doc2038917448) to appoint one (1) auditor licensed under the Public Accounting Act, 2004 to perform the annual financial statement audits for the years 2020 to 2024 inclusive for the City of Toronto and certain of its agencies and corporations, as well as other attest audits of financial information (listed in Attachment 1), and to request authority to enter into an agreement with the recommended proponent, KPMG LLP.

Staff recommended

The Auditor General and the Chief Purchasing Officer, Purchasing and Materials Management recommend that: 1. City Council appoint KPMG LLP as the auditor licensed under the Public Accounting Act, 2004 who is responsible for annually auditing the accounts and transactions of the City and certain of its local boards and expressing an opinion on the financial statements of these bodies based on the audit. 2. City Council

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grant authority to the Auditor General to negotiate and enter into an agreement in the amount of $6,733,000 excluding all applicable taxes and charges, $7,608,290 including HST and all applicable charges ($6,851,501 net of HST recoveries), with KPMG LLP being the highest ranked proponent meeting the requirements of the RFP for external audit services to perform the annual financial statement audits for the years 2020 to 2024 inclusive for the City of Toronto and certain of its agencies and corporations, as well as other attest audits of financial information as described in the RFP, as outlined in Attachment 1, on the terms and conditions set out in RFP 9119-19-7141(Doc2038917448) and in a form satisfactory to the City Solicitor. 3. City Council authorize the public release of the confidential information in Attachment 2 upon Council's approval of this contract award to KPMG LLP and KPMG LLP signing the contract.

Considered

2020-02-10 · Audit Committee · adopted
Decision as filed
The Audit Committee recommends that: 1. City Council appoint KPMG LLP as the auditor licensed under the Public Accounting Act, 2004 who is responsible for annually auditing the accounts and transactions of the City and certain of its local boards and expressing an opinion on the financial statements of these bodies based on the audit. 2. City Council grant authority to the Auditor General to negotiate and enter into an
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agreement in the amount of $6,733,000 excluding all applicable taxes and charges, $7,608,290 including HST and all applicable charges ($6,851,501 net of HST recoveries), with KPMG LLP being the highest ranked proponent meeting the requirements of the RFP for external audit services to perform the annual financial statement audits for the years 2020 to 2024 inclusive for the City of Toronto and certain of its agencies and corporations, as well as other attest audits of financial information as described in the RFP, as outlined in Attachment 1 to the report (January 24, 2020) from the Auditor General, on the terms and conditions set out in RFP 9119-19-7141(Doc2038917448) and in a form satisfactory to the City Solicitor. 3. City Council authorize the public release of the confidential information in Confidential Attachment 2 to the report (January 24, 2020) from the Auditor General, upon Council's approval of this contract award to KPMG LLP and KPMG LLP signing the contract.
2020-06-29 · Toronto City Council · adopted

On the record

The item as the City filed it

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