File #: TMP-6459    Version: 1 Name:
Type: Committee Report Status: To Be Introduced
File created: 6/12/2013 In control: Finance and Corporate Services Committee
On agenda: 6/19/2013 Final action: 8/27/2015
Title: YEAR END COMMUNICATION - DELOITTE LLP Paula Jesty, Partner, Deloitte LLP reviewed the year-end communication on the audit of the 2012 Consolidated Financial Statements with the Committee. She noted that the report summarized the findings from the audit which was conducted in accordance with the Audit Plan presented to the Finance and Corporate Services Committee in December 2012. Ms. Jesty reviewed key elements of the Audit including details of the following aspects: * Audit scope * Status of audit * Audit risks * Use of the work experts * Internal control * Fraud and illegal acts * Legal and regulatory compliance * Significant accounting policies * Management judgment and accounting estimates * Audit adjustments and uncorrected misstatements * Adjusted and unadjusted disclosure deficiencies * Post-balance sheet events * Related party transactions * Representations letter * Independence Ms. Jesty concluded by commenting that it is the auditor's opinio...
Attachments: 1. Deloitte - 2012 Year End Communication.pdf
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YEAR END COMMUNICATION - DELOITTE LLP
 
Paula Jesty, Partner, Deloitte LLP reviewed the year-end communication on the audit of the 2012 Consolidated Financial Statements with the Committee.  She noted that the report summarized the findings from the audit which was conducted in accordance with the Audit Plan presented to the Finance and Corporate Services Committee in December 2012.
 
Ms. Jesty reviewed key elements of the Audit including details of the following aspects:
  • Audit scope
  • Status of audit
  • Audit risks
  • Use of the work experts
  • Internal control
  • Fraud and illegal acts
  • Legal and regulatory compliance
  • Significant accounting policies
  • Management judgment and accounting estimates
  • Audit adjustments and uncorrected misstatements
  • Adjusted and unadjusted disclosure deficiencies
  • Post-balance sheet events
  • Related party transactions
  • Representations letter
  • Independence
 
 
 
 
 
Ms. Jesty concluded by commenting that it is the auditor's opinion that the consolidated financial statements present fairly, in all material respects, the financial position of The Corporation of the City of Barrie as at December 31, 2012.
 
Members of the Committee asked a number of questions related to the information provided and received responses from the presenter and City staff. (File: F00)