Audit Committee

Minutes

Monday, September 25, 2023 at 4:30 P.m. - 5:30 P.m.

Council Chambers - Hybrid

City of Kitchener

200 King Street W, Kitchener, ON N2G 4G7

Present:

• Mayor B. Vrbanovic
• Councillor S. Davey
• Councillor D. Schnider
• Councillor J. Deneault
• Councillor C. Michaud
• Councillor A. Owodunni (Virtually)
• Councillor P. Singh
• Councillor B. Ioannidis
• Councillor M. Johnston
• Councillor D. Chapman
• Councillor A. Clancy

Staff:

• D. Chapman, Chief Administrative Officer
• M. May, General Manager, Community Services and Deputy Chief Administrator
• V. Raab, General Manager, Corporate Services
• J. Readman, General Manager, Development Services
• J. Lautenbach, Chief Financial Officer, Financial Services
• K. Fischer, Director, Financial Reporting and ERP Solutions
• G. Demacio, Manager, Financial Reporting and Analysis
• C. Tasker, Internal Auditor
• D. Saunderson, Deputy Clerk
• M. Blake, Committee Administrator
• M. Mills, Committee Administrator

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1.

Commencement

This meeting commenced at 4:33 p.m.

2.

Disclosure of Pecuniary Interest and the General Nature Thereof

None.

3.

Discussion Items

3.1

External Audit Planning Report for Fiscal Year 2023, FIN-2023-413

The Committee considered Financial Services report FIN-2023-413, dated September 15, 2023, to which the KPMG report entitled, "External Audit Planning Report for Fiscal Year 2023" was attached. G. Demacio, Manager, Financial Reporting and Analysis and K. Fischer, Director, Financial Reporting and ERP Solutions were also in attendance to respond to questions from the Committee.

M. Betik and C. Cheal, KPMG, the City's external Auditor, were in attendance and presented their Audit Planning Report for the year ending December 31, 2023.

• On motion by Councillor S. Davey

  it was resolved:

  "That the Audit Planning Report for the year ending December 31, 2023 prepared by KPMG, attached as Attachment 'A' to Financial Services Department report FIN-2023-413 be approved."

  Carried

4.

Status Updates

4.1

3rd Quarter Audit Status Report, CAO-2023-385

The Committee considered Chief Administrative Office report CAO-2023-385, entitled "3rd Quarter 2023 Audit Status Report", dated August 30, 2023, providing a summary of Accounting and Payroll controls audit completed during the period of July to September 2023.

C. Tasker, Internal Auditor, presented the Report advising the audits contained within the report include: SAP Concur controls and reports, Field orders and parked invoices, journal entries, duplicate payments, payroll, bank reconciliations and emerging risks.

5.

Adjournment

On motion, this meeting adjourned at 4:56 p.m.

Marilyn Mills
Committee Administrator