Technical Amendment to AU5.7 - Negotiating and Entering Agreement with External Auditors - by Councillor Stephen Holyday, seconded by Councillor John Filion

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The decision

2020-07-28 · Toronto City Council · adopted

As filed

City Council on July 28 and 29, 2020, adopted the following: 1. City Council amend Part 2 of its decision on Item AU5.7 by deleting the words "the Auditor General" and inserting instead the words "the City Manager or designate" so that Part 2 now reads as follows: City Council authorize the City Manager or designate to negotiate and enter into an agreement in the amount of $6,733,000 excluding all applicable taxes and

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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.

On the agenda

As the city filed it

This Motion requests a re-opening of item AU5.7 to make a technical amendment to the wording of Part 2 of City Council's decision to grant authority for the City Manager (or designate) to negotiate and enter into an agreement with the external auditors. The engagement letter (contract) with the external auditors should be signed by the City Manager (or his designate) on behalf of the City Council, and not the Auditor General.

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This Motion is urgent because if authorization is not given, the agreement with the external auditors cannot be signed and work on the 2020 audits of the financial statements of the City and certain of its agencies and corporations cannot proceed. REQUIRES RE-OPENING: Item AU5.7 (June 29 and 30, 2020 City Council meeting), only as it pertains to Part 2 of City Council's decision.

Staff recommended

Councillor Stephen Holyday, seconded by Councillor John Filion, recommends that: 1. City Council amend Part 2 of its decision on Item AU5.7 by deleting the words "the Auditor General" and inserting instead the words "the City Manager or designate" so that Part 2 now reads as follows: City Council authorize the City Manager or designate to negotiate and enter into an agreement in the amount of $6,733,000 excluding all

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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.

On the record

The item as the City filed it

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