Appointment of External Auditor 2023
Motion 5 · Council Meeting, November 15, 2022
Summary
- Council is asked to formally appoint KPMG LLP as the City's external auditor for the 2023 fiscal year, as required annually under Section 230 of the Vancouver Charter.
- KPMG was awarded a five-year contract in 2020 covering audits for fiscal years 2021–2025, with an option for four additional one-year extensions.
- The audit fee for 2023 is set at $114,500 (excluding taxes), consistent with the pre-negotiated fixed-fee schedule in the contract.
- Total fees across the five-year contract are $573,100 (excluding taxes); fees can only be adjusted if material scope changes occur or auditing standards change.
- Funding for the 2023 audit fee is already included in the 2023 operating budget, with no additional budget impact.
- Staff recommend approval, and the City Manager concurs with the recommendation.