Item No. 7.3

Council Report: C 3/2020

Subject: 2019 Audit Planning Report

Reference:

• Date to Council: 1/20/2020
• Author: Stephen Cipkar
• Manager of Financial Accounting
• 519-255-6100 Ext. 6234
• scipkar@citywindsor.ca
• Taxation & Financial Projects
• Report Date: 1/3/2020
• Clerk's File #: AF/11247

To: Mayor and Members of City Council

Recommendation:

THAT City Council RECEIVE FOR INFORMATION the 2019 KPMG Audit Planning Report for the year ending December 31, 2019.

Executive Summary:

N/A

Background:

Section 296 of the Municipal Act requires that all municipalities in Ontario undertake an annual audit of their accounts and that the external auditor is responsible for expressing an opinion on the financial statements based on that audit. The City's external auditor is KPMG LLP (KPMG) and their audit plan for the year ended December 31, 2019 is attached as Appendix A.

Discussion:

City Council renewed its approval of the appointment of KPMG as the City's external auditor for 2017-2021 with options to renew through 2026 via CR 156/2017. The proposed plan for 2019 is similar to the approved 2018 audit plan and is reflective of generally accepted auditing standards.

Risk Analysis:

There have been no significant or critical risks identified relative to this report.

Financial Matters:

As outlined in KPMG's Audit Planning Report, the fee for the 2019 audit of the City of Windsor Consolidated Financial Statements and Trust Funds statements is $89,900. This fee has increased by $1,600 as per the pricing schedule submitted by KPMG