Other Items Considered by the Committee

(a)1998 Audit Planning Document

The Audit Committee reports having received the following report for information:

(November 19, 1998) from Ernst & Young, External Auditors entitled, "City of Toronto - Report to the Audit Committee, 1988 Audit Planning" and recommending that the report be received for information.

The following representatives from Ernst and Young, Chartered Accountants, made a presentation to the Committee:

-Mr. Ian Bowell;

-Mr. Mike Connolly;

-Ms. Karen Kinnaird; and

-Ms. Diana Brouwer.

(A copy of the report was forwarded to all Members of Council with the agenda of the Audit Committee meeting of December 1, 1998, and a copy thereof is on file in the office of the City Clerk.)

(b)Corporate Variance Reporting

The Audit Committee reports having received the following report and having forwarded same to the Budget Committee for information:

(November 20, 1998) from the City Auditor respecting Corporate Variance Reporting and recommending that this report be received and forwarded to the Budget Committee for information.

(c)Corso Italia Business Improvement Area

The Audit Committee reports having received the following report and having forwarded same to the Budget Committee for information:

(November 20, 1998) from the City Auditor respecting Corporate Variance Reporting and recommending that this report be received and forwarded to the Budget Committee for information.

Respectfully submitted,

COUNCILLOR DOUG MAHOOD,

Chair

Toronto, December 1, 1998

Frances M. Pritchard

Tel. (416) 392-7031