Agenda Package: Audit Committee - June 17, 2026

Print as PDF
-
Chairs' Boardroom, Simcoe Hall, 2nd Floor

Agenda

Pursuant to section 6.1 of the Audit Committee Terms of Reference, consideration of items 10 to 12 will take place in camera.

CLOSED SESSION

  1. Introductions and Chair’s Remarks
  2. Reports of the Administrative Assessors
  3. Audited Financial Statements for the Fiscal Year End April 30, 2026 (for recommendation)+
    1. Financial Report: Presentation
    2. External Auditors’ Report of Audit Results
    3. Legal Claims
    4. External Auditors: Private Meeting
    5. Discussion and Recommendation

Be It Recommended,

THAT the University of Toronto audited financial statements for the fiscal year ended April 30, 2026, be approved.

  1. External Auditors: Recommendation for Appointment for 2026-27 and Conditional Approval of Engagement Letter (for recommendation and approval)+   

    Be It Recommended,

    THAT Ernst & Young LLP be appointed as external auditors of the University of Toronto for the fiscal year ending April 30, 2027.

    Be it Resolved,

    THAT the Audit Committee accept the external auditors’ engagement letter for the University for the year ended April 30, 2027, subject to the approval of the appointment of Ernst & Young LLP as external auditors by the Governing Council.
  2. Internal Audit Annual Report (to April 30, 2026) (for information)+
  3. Other Business

CONSENT AGENDA

  1. Report of the Previous Meeting – Report Number 168 (April 15, 2026)* (for approval)
  2. Business Arising from the Report of the Previous Meeting
  3. Date of the Next Meeting: September 17, 2026, 4:00 p.m. – 6:00 p.m.

IN CAMERA SESSION 

 

  1. Risk Dashboards (for information)+
  2. Internal Auditor: Private Meeting
  3. Committee Members Alone

*Documentation is attached.
+Confidential documentation is attached for members only.