HomeMy WebLinkAboutAudit Committee Minutes June 3 2020 Cape Breton Regional Municipality
Audit Committee Minutes
Wednesday,
June 3, 2020
1:32 p.m.
The Deputy Mayor called the meeting to order and noted the following participants
in the Video/Teleconferencing.
Present: Deputy Mayor Ivan Doncaster, Chair
Councillor Clarence Prince
Councillor George MacDonald
Councillor Darren Bruckschwaiger, Vice-Chair
Ian MacLean, Citizen Appointee
Rakesh Kochhar, Citizen Appointee
Staff. Marie Walsh, Chief Administrative Officer
John MacKinnon, Deputy Chief Administrative Officer
Jennifer Campbell, Chief Financial Officer
Deborah Campbell Ryan, Municipal Clerk
Adam MacNeil, Manager of Finance
Sheilah MacDonald, Communications Officer, Mayor's Office
Angela Ross, Recording Secretary
Absent: N/A
Also
Attending: Mayor Cecil P. Clarke
CBRM Audit Committee
June 3,2020 Approved September 28,2020 Page 2 of 4
Summary of Decisions
Roll Call
1. Approval of Minutes:
➢ Audit Committee Meeting—September 26, 2019
Carried.
2. Approval of Agenda:
Motion to approve the June 3, 2020 Audit Committee agenda. Carried.
3. MNP —Presentation:
a) Summary Audit Service Plan:
Mr. Darren Chiasson, MNP, presented the Summary Audit Service Plan.
For information only.
Adiournment
CBRM Audit Committee Minutes
June 3,2020 Approved September 28,2020 Page 3 of 4
Roll Call
1. Approval of Minutes:
Motion:
Moved by Councillor Prince, seconded by Councillor Bruckschwaiger, approval of the
Audit Committee Minutes of:
➢ September 26, 2019
Motion Carried.
2. Approval of Agenda:
Motion:
Moved by Councillor George MacDonald, seconded by Councillor Bruckschwaiger,
approval of the June 3, 2020 Audit Committee Agenda.
Motion Carried.
3. MNP —Presentation:
a) Summary Audit Service Plan
Mr. Darren Chiasson, MNP, presented the Summary Audit Service Plan and highlighted
the following:
• Areas of Audit Emphasis for 2020
Summarized Testing Approach for 2020
• Materiality —CBRM
• Materiality —CBRM Water Utility
• Audit Team
• Timetable
• Estimated Fees
• Auditor Independence
Discussion took place regarding the following:
• Estimated preliminary materiality of $1.8 million and adjustments above 7.5%
reported to the Audit Committee
• Areas of emphasis
• Impacts of COVID and assessment of risks
Continued...
CBRM Audit Committee
June 3,2020 Draft Page 4 of 4
MNP —Presentation - Summary Audit Service Plan (cont'd):
It was noted by Mr. Chiasson that the Committee will be required to meet in September
to review and make recommendations relating Audit Findings Report and year-end
financial statements before the documents are approved by Council to release to the
Province of Nova Scotia by end September.
In response to a question regarding the governance and mandate of the Audit Committee,
the Chief Financial Officer advised that the December meeting was held off due to the
upcoming RFP for the Banking Service Agreement, proposed amendments to the
Procurement Policies scheduled for the June meeting of Council, as well as the unknowns
regarding the 2020 Election and the fact that Council representation on the Audit
Committee may change in the Fall.
For information only.
Adiourned at 2:00 p.m.
Deborah Campbell Ryan
Municipal Clerk
/acr