Award of Request for Proposal Doc3872102334 to Grant Thornton LLP for External Audit Services for City Arenas, Community Centres and Other Entities

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The decision

2023-07-19 · Toronto City Council · adopted

As filed

City Council on July 19 and 20, 2023, adopted the following: 1. City Council authorize the Auditor General to enter into an agreement in the amount of $2,852,855 excluding all applicable taxes and charges, $3,223,726 including Harmonized Sales Tax and all applicable charges, $2,903,065, net of Harmonized Sales Tax recoveries, with Grant Thornton LLP being the highest ranked proponent that met all the requirements of the

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Request for Proposal for external audit services to perform the annual financial statement audits for the years ending December 31, 2023 to 2027 inclusive for City arenas, community centres and other entities listed in Attachment 1 to the report (June 22, 2023) from the Auditor General and the Chief Procurement Officer, on the terms and conditions set out in Request for Proposal Document Number 3872102334 and in a form satisfactory to the City Solicitor. 2. City Council direct the City Manager, in consultation with the Chief Financial Officer and Treasurer, the Controller, the City Solicitor, and Board Chairs of the City's arenas, community centres, and other entities, to assess the ability for these Boards to select and have a direct engagement with their own auditors, and perform a cost-benefit analysis to consider that approach under their governance frameworks.

On the agenda

As the city filed it

The purpose of this report is to advise on the results of Request for Proposal (RFP) Doc3872102334 for external audits of the annual financial statement audits for the fiscal years 2023 to 2027 inclusive for City arenas, community centres and other entities (listed in Attachment 1), and to request authority to enter into an agreement with the recommended proponent, Grant Thornton LLP.

Staff recommended

The Auditor General and the Chief Procurement Officer recommend that: 1. City Council grant authority to the Auditor General to enter into an agreement in the amount of $2,852,855 excluding all applicable taxes and charges, $3,223,726 including HST and all applicable charges, $2,903,065, net of HST recoveries, with Grant Thornton LLP being the highest ranked proponent that met all the requirements of the Request for Proposal for external audit services to perform the annual financial statement audits for the years ending December 31, 2023 to 2027 inclusive for City arenas, community centres and other entities listed in Attachment 1, on the terms and conditions set out in RFP Doc3872102334 and in a form satisfactory to the City Solicitor.

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2. The City Manager, in consultation with the Chief Financial Officer and Treasurer, Controller, Legal Services, and Board Chairs of the City's arenas, community centres, and other entities, assess the ability for these Boards to select and have a direct engagement with their own auditors, and perform a cost-benefit analysis to consider that approach under their governance frameworks.

Considered

2023-07-07 · Audit Committee · adopted
Decision as filed
The Audit Committee recommends that: 1. City Council grant authority to the Auditor General to enter into an agreement in the amount of $2,852,855 excluding all applicable taxes and charges, $3,223,726 including HST and all applicable charges, $2,903,065, net of HST recoveries, with Grant Thornton LLP being the highest ranked proponent that met all the requirements of the Request for Proposal for external audit services to perform the annual financial statement audits for the years ending December 31, 2023 to 2027 inclusive for City arenas, community centres and other entities listed in Attachment 1 to the report (June 22, 2023) from the Auditor General and Chief Procurement Officer, on the terms and conditions set out in Request for Proposal Doc3872102334 and in a form satisfactory to the City Solicitor.
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2. The City Manager, in consultation with the Chief Financial Officer and Treasurer, Controller, Legal Services, and Board Chairs of the City's arenas, community centres, and other entities, assess the ability for these Boards to select and have a direct engagement with their own auditors, and perform a cost-benefit analysis to consider that approach under their governance frameworks.
2023-07-19 · Toronto City Council · adopted

On the record

The item as the City filed it

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