November 30, 2016, at 3:03 PM
Present:
P. Hubert, S. Turner, M. van Holst, S. Khullar, B. Westlake-Power (Secretary)
Absent:
A. Hopkins
Also Present:
J. Helmer, A.L. Barbon
1. Disclosures of
Pecuniary Interest
2. STAFF REPORT -
Verbal - Request for Proposal for Internal Audit Services
That the following actions be taken with respect to the appointment of an outsourced internal auditor for the City of London: a) based on the completed evaluation, which included such criteria as audit methodology, fees, audit approach, etc. (as included in the public Request for Proposals), the firm of Deloitte LLP BE APPOINTED as the preferred firm for the provision of internal audit services for a four-year term beginning January 1, 2017, with the option to renew for one additional one-year term; b) the Civic Administration BE AUTHORIZED to undertake all the administrative acts that are necessary in connection with the contract for the above-noted appointment; c) approval hereby given BE CONDITIONAL upon the Corporation entering into a formal contract to the satisfaction of the Managing Director, Corporate Services and City Treasurer, Chief Financial Officer relating to the subject matter of this approval; and d) the Mayor and the City Clerk BE AUTHORIZED to execute the contract noted in part c), above; it being noted that the Audit Committee received a verbal report from A.L. Barbon, Director, Financial Services, with respect to this matter.
(See Confidential Appendix to the 9th Report of the Audit Committee, enclosed for Members only.)