Council suspends audit committee duties for 2024 audit, directs finance report to council

At its Sept. 10 meeting Deep River council voted to suspend the duties of the audit committee for the 2024 financial audit and directed the director of finance/treasurer to bring a report prior to the 2025 audit explaining whether the audit committee should continue and proposing updated terms of reference.

The motion was introduced under item C of section 11.13 of the procedure bylaw, which allows certain motions without written notice. The mover invoked the bylaw exception and read background noting KPMG LLP were appointed the town’s auditor on Feb. 5, 2025, and that draft 2024 financial statements are expected for presentation to council at the Sept. 24, 2025 meeting. The motion directed staff to bring a report with reasons for continuation of an audit committee and an updated terms of reference.

During debate councillors questioned whether that report should go to the audit committee or directly to council. One councillor argued the audit committee “hasn’t served a whole lot of purpose over the last few years,” and others said the matter ultimately requires a council decision. Staff replied the report would be substantively the same whether presented to committee or council. Councillors agreed to amend the destination of the report to council and proceeded to carry the motion.

The motion was seconded by Councillor Fitton and recorded as carried. The council did not adopt any permanent change to the audit committee terms of reference at the meeting; instead, the director of finance will present the requested report before the 2025 audit so council can consider whether to dissolve or amend the committee.