HomeMy WebLinkAboutJanuary 17, 1996 OF p,o
9
Audit Committee Meeting
Minutes
Subject to Adoption
Present: Mayor Wayne Arthurs- Chairperson
Councillor Maurice Brenner
Councillor Enrico Pistritto
C.M. Timothy Sheffield, Town Manager
Inga Berrey, Manager of Accounting and Payroll Services
Warren Hurren, Hurren, Flett, Sinclair, Chartered Accountants
Neil Sinclair, Hurren, Flett Sinclair, Chartered Accountants
A meeting of the Audit Committee was held on January 17, 1996 at 4:00 p.m. in Meeting
Room#1 of the Pickering Civic Complex. The following matters were discussed:
1. Chair
Mayor Arthurs advised t h at he would be Chair of the fir st coup le of meetings until
the 1995 Audit process is complete. A Chair will be elected for 1996.
2. Terms of Reference
Councillor Pistritto requested that a member of the public be appointed to sit on
the Committee. He was advised that the Committee was appointed by Council and
this recommendation would have to go before Council.
3. Minutes of Previous Meeting
Moved by Councillor Brenner
Seconded by Councillor Pistritto
That the Minutes of the November 8, 1995 Audit Committee meeting be
approved.
CARRIED
4. Audit Work
The Auditor advised that random testing of accounts had been carried out and no
problems were evident. Specific testing would be performed only if requested or
overexpenditure occurred.
5. Auditors Letter of November 9, 1995
The Auditor advised that the Committee should meet three or four times; once
when Audit has been completed, again when Financial Statement is completed and
again if financial matters need to be addressed.
The relationship between the Audit Committee and the Auditors is one of
communication. If the Auditors have a concern they will bring it to the attention
of the Committee.
Councillor Brenner questioned if generic guidelines should be followed as set out
for private organizations. The Auditor advised that guidelines for a municipality
are already legislated.
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Councillor Pistritto requested that all correspondence being forwarded to the Chair
be copied to all members of the Committee.
6. Auditors Letter of November 9, 1995
An informal session will be held at the Civic Complex on March 26th at 7 p.m.
7. Auditors Letter of November 23, 1995
The Auditor outlined the interim audit process involving the Treasurer and the
Manager of Accounting/Payroll.
The Town Manager advised of his discussions with the Treasurer and Deputy
Treasurer concerning their possible retirement at the end of 1997.
8. Next Meeting
An informal meeting has been scheduled for March 26th, 7:00 p.m.
The next meeting of the Committee to discuss the audit function will be April 24th
at 4:00 p.m.
The meeting adjourned at 5:35 p.m.
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