Audit and Risk Management Committee - October 19, 2016

TTC staff can arrange for special assistance with some advance notice. If you need special assistance, please call 416-393-3698 or e-mail gso@ttc.ca

If the TTC Audit & Risk Management Committee wants to meet in closed session (privately) a Member of the Committee must make a motion to do so and give the reason why the Committee has to meet privately. (Section 29 of the TTC By-law and Section 190 of the City of Toronto Act, 2006)

The City of Toronto Act, 2006 and the Municipal Freedom of Information and Protection of Privacy Act, R.S.O. 1900, authorize the TTC to collect any personal information in your communication or presentation to the TTC Audit & Risk Management Committee. The TTC collects this information to enable it to make informed decisions on the relevant issue(s). If you are submitting letters, faxes, e-mails, presentations or other communications to the TTC, you should be aware that your name and the fact that you communicated with the TTC will become part of the public record and will appear on the TTC’s website.

The TTC makes a video record of its Audit & Risk Management Committee meetings. If you make a presentation to the Audit & Risk Management Committee, the TTC will be videorecording you and the video record is available to the public.

If you want to learn more about why and how the TTC collects your information, write to the Commission Services Office, Toronto Transit Commission, 1900 Yonge Street, Toronto, Ontario M4S 1Z2.

That the Committee recess as the Committee of the Whole to deal with litigation or potential litigation matters, labour relations, employee negotiations, security of the property, and to receive advice which is subject to solicitor client privilege.

Meeting No. 5 held on Wednesday, July 20, 2016

Requests to speak must be registered by noon of the business day preceding meeting day. A final deputation list will be distributed at the meeting.

1. PricewaterhouseCoopers LLP Consolidated Financial Statements Audit Plan for the Year-Ended December 31, 2016 (For Information)
2. Auditor General’s Report – Continuous Controls Monitoring Program – Toronto Transit Commission, Employee Overtime and Absenteeism, 2015 (For Action)
3. Toronto-York Spadina Subway Extension (TYSSE) Audit Reports, Memos and Work Plans – 2008 to 2015 (This report contains advice or communications that are subject to Solicitor-Client Privilege) (Deferred from the May 25, 2016 meeting) (For Action)
4. Internal Audit Activities – Quarterly Update: Q3 2016 (For Information)
5. TTC Audit and Risk Management Committee Terms of Reference (For Action)
6. TTC Top Risks Update (For Information)

Present

John Campbell, Rick Byers, Alan Heisey, Q.C

Absent

Vincent Crisanti, Ron Lalonde.

TTC Staff

A. Byford, (Chief Executive Officer), C. Upfold (Chief Customer Officer/Deputy CEO ), S. Reed Tanaka (Chief Capital Officer), M. Palmer (Acting - Chief Operating Officer), T. Bal (Head of Audit) C. Leach (Manager - Audit), E. Chen (Auditor), J. Taylor (Chief of Staff), M. Ismail (Principal Risk Advisor), G. Piemontese (Chief People Officer), K. Lee (Head of Commission Services), D. McDonald (Co-ordinator - Secretariat Services) and M. Balanco (Administrator - Secretariat Services) were present.

External

• C. Russell and J. Cooke (PricewaterhouseCoopers LLP) were present for Item No. 1.
• J. Ying, Assistant Auditor General, City of Toronto was present for Item No. 2.
• K. Lillyman (Chair’s Office) and D. Magisano (Mayor’s Office) were also present.
• J. Campbell was in the Chair.

Nil

Nil

Nil

Nil

1. PricewaterhouseCoopers LLP Consolidated Financial Statements Audit Plan for the Year-Ended December 31, 2016
   
   Cathy Russell, Partner - Assurance, PricewaterhouseCoopers LLP provided an overview of the report.
   
   The Committee received the report for information.
2. Auditor General’s Report - Continuous Controls Monitoring Program - Toronto Transit Commission, Employee Overtime and Absenteeism, 2015
   
   Jane Ying, Assistant Auditor General, City of Toronto provided an overview of the report.The Committee received the report for information.
3. Toronto-York Spadina Subway Extension (TYSSE) Audit Reports, Memos and Work Plans - 2008 to 2015
   
   The Committee received the confidential information as set out in the confidential attachment, noting that it is to remain confidential in its entirety as it contains information which is subject to solicitor-client privilege.
4. Internal Audit Activities - Quarterly Update: Q3 2016
   
   Tara Bal provided a high level overview of the internal audit activities in their report.
   
   The Committee received the report for information.
5. TTC Audit and Risk Management Committee Terms of Reference
   
   Chair Campbell moved the following motion:
   
   That this item be referred to the next regular meeting of the TTC Audit & Risk Management Committee, and that a training and education session be arranged in the interim on the roles and responsibilities of the TTC Audit & Risk Management Committee, Internal Audit and Enterprise Risk Management.
   
   The motion by the Chair carried.
6. TTC Top Risks Update
   
   Chair Campbell moved the following motion:
   
   That this item be referred to a future meeting of the TTC Audit & Risk Management Committee following the training and education session to be established for the TTC Audit & Risk Management Committee, Internal Audit and Enterprise Risk Management.
   
   The motion by the Chair carried.
   
   Chair Campbell moved that the Committee recess to meet as the Committee of the Whole to discuss report #3 Toronto-York Spadina Subway Extension (TYSSE) Audit Reports, Memos and Work Plans - 2008 to 2015 which contains information subject to solicitor-client privilege.
   
   The motion by Chair Campbell carried.

The Committee reconvened in public at 2:39 p.m.

The meeting adjourned at 2:40 p.m.