Summary#

Council adopted the item on its consent agenda on July 28, 2026. The Audit Committee had approved Deloitte LLP’s 2026 audit plan; Council received the report and plan for information and the City’s official record, rather than approving the plan itself. City staff say the plan’s goal is to provide reasonable assurance about the accuracy of Calgary’s 2026 consolidated financial statements.

• The plan covers Deloitte’s audit of the City’s consolidated financial statements for 2026.
• The Audit Committee approved the plan and, under its existing bylaw authority, must pre-approve any additional audit matters that affect scope or fees.
• The plan includes additional audit procedures for the new significant risk of valuing private investments.

What it means for you#

• Taxpayers and the public: The decision concerns the City’s external financial audit. It does not directly change taxes, fees, services or residents’ rights.
• City and Deloitte: Deloitte will carry out the audit under the plan. Any additional matters that affect its scope or fees must go to the Audit Committee for pre-approval.

Money#

The estimated audit fees include a 2% base increase over 2025 fees and an additional $15,000 for work on private-investment valuation.

• No publicly available information in the supplied material gives the total estimated fee.
• The report says any further matters affecting scope or fees will be brought to the Audit Committee for pre-approval.

What is unclear#

• The supplied material does not include the detailed audit plan, so the full audit scope, timing and procedures are not available.
• The total estimated fee and the 2025 fee amount are not stated in the supplied material.
• The material does not explain how the City will respond if the audit identifies a significant problem.

Case for#

• City staff say the audit is intended to provide reasonable assurance that the City’s financial statements have no material errors, whether caused by fraud or mistake.
• The plan adds procedures for a named risk—valuation of private investments—and requires Audit Committee pre-approval if further work changes the scope or fees.

Case against#

• The fee is expected to rise by 2% over 2025, with another $15,000 for private-investment valuation work; the total expected cost is not stated in the supplied material.
• The detailed plan is not included in the supplied material, limiting what the public can assess about the audit’s procedures and coverage.