Toronto Parking Authority Enterprise Risk Management Report

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

2024-04-25 · Toronto Parking Authority - Audit and Risk Management Committee · adopted

As filed

The Toronto Parking Authority - Audit and Risk Management Committee recommends that: 1. The Board of Directors of the Toronto Parking Authority receive the report (April 5, 2024) from the President, Toronto Parking Authority for information.

On the agenda

As the city filed it

Enterprise Risk Management is a continuous process to identify and assess risks and opportunities at an enterprise level. The Toronto Parking Authority currently does not have a formal Enterprise Risk Management strategy and after the release of a Request for Proposals in the second quarter of 2023, the successful proponent, KPMG LLP (KPMG), was engaged to support the setup of the Enterprise Risk Management Program. 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.

Show the rest of As the city filed it, 270 more characters as filed

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 KPMG to provide a report on the completion of the setup of the Enterprise Risk Management Program.

Staff recommended

The President, Toronto Parking Authority, recommends that: 1. The Board of Directors of the Toronto Parking Authority receive this report for information.

On the record

The item as the City filed it