Critical accounting estimates

Our response and significant findings 

• The liability for landfill post closure costs as at December 31, 2019 is comprised of the Corporation’s proportionate share of closure and post closures costs associated with the Regional Landfill of $6.9 million (2018 - $4.0 million) and the Corporation’s share of post closure costs associated with Landfill #3 of $9.6 million (2018 - $9.6 million).
• We have evaluated the assumptions in support of the liability for closure and post closure costs including the annual payment, discount rate and inflation rate.
• We have reviewed note 7 to the consolidated financial statements and ensured that the disclosure satisfies the requirements of PSAB, Section 3270, Solid Waste Landfill Closure and Post-Closure Liability.
• We did not identify any misstatements during the course of our audit procedures over the liability for landfill post closure costs.