Audit Committee - General - February 4, 2011
Meeting Info
-
Agenda
-
Meeting Minutes
Members
- Frank Di Giorgio
- Norm Kelly
- Denzil Minnan-Wong
Declaration of Interest - Municipal Conflict of Interest Act
Nil
In-Camera Resolution
Minutes of the Previous Meeting
Business Arising Out of Minutes
Public Presentations
Nil
Reports with Confidential Attachments
Other Business
A meeting of the TTC Audit Committee was held on Friday, February 4, 2011 commencing at 9:40 a.m. in Committee Room 2, 2nd Floor, City Hall, Toronto in order to discuss business related to the Commission.
Present
- F. Di Giorgio (TTC Audit Committee)
- N. Kelly (TTC Audit Committee)
- D. Minnan-Wong (TTC Audit Committee)
- V. Rodo (General Secretary)
- D. Beecroft (Chief Auditor)
- R. Cornacchia (General Manager – Operations)
- J. Sepulis (General Manager – Engineering & Construction)
- J. Griffiths (City Auditor General)
- M. Roche (Chief Financial Officer)
- P. Buttigieg (Chief Accountant – Financial Services)
- C. Russell and M. Walsh (PriceWaterhouseCoopers)
- F. Stanois (Co-ordinator – Secretariat Services)
The General Secretary advised that it was customary for the TTC Audit Committee to appoint a Chair.
D. Minnan-Wong accepted the position of Chair.
TTC AUDIT COMMITTEE MEMBERS
TTC AUDIT COMMITTEE MEMBERS
Norm Kelly
Denzil Minnan-Wong
In this section
Minutes of the Previous Meeting
Other Business
-
Price-WaterhouseCoopers Consolidated Financial Statement Audit Plan – Year Ended December 31, 2010
The Audit Committee received the foregoing report from PriceWaterhouseCoopers (PWC) noting the report outlines the PWC’s audit plan, for the audit of the Commission’s consolidated financial statements, for the year ended December 31, 2010.
The Audit Committee also requested that staff provide a report outlining the differences between the previous audit procedures and that of the new accounting standards effective January 1, 2011.
-
Internal Audit Report (July – December 2010)
The Audit Committee received the foregoing internal audit report covering the period July – December 2010 for information.
-
Internal Audit Capital Report – Purchase of 198 Wheel-Trans Buses
The Audit Committee received the foregoing report for information.
-
Internal Audit Capital Report – Wilson Complex – Modifications For the Toronto Rocket
The Audit Committee received the foregoing report for information.
-
Internal Audit – Long Range Plan (2010 – 2014)
The Audit Committee received the internal audit long range plan 2010 – 2014 for information.The Audit Committee also requested that the Chief Auditor report back at the next meeting on the process used to develop the long range plan.