HomeMy WebLinkAboutFebruary 16, 2004
Citlj o~ Minutes I Meeting Summary
Audit Committee Meeting Minutes
February 16, 2004
9:00 AM
CAG Board Room
Attendees: Mayor David Ryan
Councillor Maurice Brenner
Councillor Kevin Ashe
Councillor Bill McLean
GiI Paterson, Director, Corporate Services & Treasurer
Kristine Senior, Manager, Accounting Services
Debbie Kearns, Committee Coordinator
Paula Jesty, Deloitte & Touche
Ivy Chan, Deloitte & Touche
Election of Chair of theCornmitteeo
ire on Novem ber 30, 2006
Moved by Councillor Brenner, that Mayor Ryan be Chair of the
Audit Committee for the term to expire on November 30, 2006.
CARRIED
2. Ado· tionof Mil1l..1tes
Moved by Councillor Brenner, that the Minutes of the July 28 ,
2003 Audit Committee Meeting, be adopted.
CARRIED
Councillor Brenner provided the history and purpose of the
Audit Committee.
Paula Jesty, spoke of the benefits to having a Audit Committee
and will provide this Committee with information concerning the
new requirements of Audit Committees within Public
Companies.
2003 Aûdit Plan
Moved by Councillor Brenner that the 2003 Audit Plan be
received.
CARRIED
A discussion concerning the timing of reporting for the City and
its dependence on the completion of audits for Veridian and
Aax Pickerin Transit Authorit APT A took place.
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Paula Jesty advised that the auditors for Veridian forward the
financial information to be incorporated into the City's records
for accounting purposes. Deloitte and Touche send a reliance
letter to Veridian's Auditors to state relying on their information.
Ajax Pickering Transit Authority (APT A) are audited by Deloitte
& Touche.
Meeting Adjourned 9:20 AM
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