Toronto Parking Authority Enterprise Risk Management

The Toronto Parking Authority completed the setup of the Enterprise Risk Management program in April 2024. With the support of KPMG, in line with industry good practices, Toronto Parking Authority has designed and implemented an Enterprise Risk Management program following a five-step risk management process of: 1. Risk Identification 2. Risk Prioritization 3. Risk Assessment and Treatment 4. Risk Governance Structure 5. Risk Monitoring and Reporting The purpose of this report is for the Executive Leadership team to provide a semi-annual Enterprise Risk Management update report to the Audit and Risk Management committee on the status of ongoing and completed action plans (mitigation strategies).