TAMRMS#: B06
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Auditor's Year End Communication
Presented by: John Stelter, CPA, CA, Partner KPMG
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RECOMMENDATION(S)
recommendation
1. That the report titled “2018 City of St. Albert - Audit Findings Report”, provided as an attachment to the April 23, 2019 agenda report titled “Auditors Year End Communication”, be received as information.
2. That Administration provide a status update on the Audit Recommendation's as outlined in this report at the October 15, 2019 Governance, Priorities and Finance Committee Meeting.
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PURPOSE OF REPORT
This report brings forward any significant matters identified by the Auditors during their audit engagement of the 2018 Financial Statements and other reporting as required by the Canadian Institute of Chartered Accountants.
This report also brings forward any operation matters identified by the Auditors during the audit engagement.
ALIGNMENT TO PRIORITIES IN COUNCIL’S STRATEGIC PLAN
N/A
ALIGNMENT TO LEVELS OF SERVICE DELIVERY
Public Communication and Corporate Reporting to the Community:
Provision of progress update on Council’s Strategic Plan, financials and key performance indicators to support transparency to the community through regular reporting of the City's achievements.
Report is prepared annually to provide update on progress toward achieving established goals and to report on City’s financial position.
ALIGNMENT TO COUNCIL DIRECTION OR MANDATORY STATUTORY PROVISION
See reference to MGA requirements under Legal Implications below.
BACKGROUND AND DISCUSSION
This report summarizes the scope of the audit, any findings to date and reviews any matters of importance. KPMG is responsible to express an opinion on the City’s consolidated financial statements, in accordance with Canadian Generally Accepted Auditing Standards (Canadian GAAS) and Canadian Public Sector Accounting Standards (Canadian PSAS).
STAKEHOLDER COMMUNICATIONS OR ENGAGEMENT
N/A
IMPLICATIONS OF RECOMMENDATION(S)
Financial:
None at this time
Legal / Risk:
Section 276 of the Municipal Government Act requires that a municipality prepare financial statements for the preceding year and that the audited statements (with the auditor’s report) be available to the Minister and to the public by May 1.
Program or Service:
None at this time
Organizational:
None at this time
ALTERNATIVES AND IMPLICATIONS CONSIDERED
Alternative 1: Council could direct the City appointed Auditors, KPMG, to review additional areas if there are any concerns. This would be outside the scope of the approved yearly Audit Plan, would require additional funds and would require a request for exemption to the May 1 reporting deadline from Municipal Affairs.
Alternative 2: Council may wish to move in camera to discuss aspects of the 2018 Audited Consolidated Financial Statements. If this is the case the following motions would be appropriate:
That Council move in camera to consider the 2018 Audited Consolidated Financial Statements in accordance with provisions of Section 24 - Advice from officials of the Freedom of Information and Protection of Privacy Act, RSA, 2000, Chapter F-25, as amended.
That Council reconvene in public.
That Council consider Recommendations 1 and 2 above.
Report Date: April 23, 2019
Author: Stella Tam, Senior Financial Analyst
Department: Finance & Assessment Department
Chief Administrative Officer: Kevin Scoble