Audit Update

(A signed copy of the letter below was delivered to all members, on and off-reserve, last month.)

To: Squamish Nation Membership

From: Chris Mullen, Director of Finance

Date: October 18, 2019

Re: Audit Update

I am pleased to announce several significant steps taken by the Squamish Nation Council and Finance Department to further instill trust, confidence and transparency into the Nation’s financial affairs.

Forensic Audit Services

On September 20, 2019 the Squamish Nation Council appointed KPMG LLP (KPMG) to perform Forensic Audit Services as outlined in the Nation’s Request for Proposal issued on August 16, 2019.  The Evaluation Committee responsible for selecting the professional services firm to perform the Forensic Audit Service was comprised of members of the Finance and Audit Committee as well as the Director of Finance. The Squamish Nation Council appointed me, in my capacity as the Director of Finance, to be the project manager and point person, coordinating with both KPMG and external legal counsel throughout the engagement.

We are honoured to have the opportunity to respond to the calls from Membership to take these very important steps and look forward to providing details of the results of the Forensic Audit Services at the conclusion of the engagement.

Annual Audit and Tax Services

On October 11, 2019 the Squamish Nation Council appointed PricewaterhouseCoopers LLP (PwC) as the Auditor and Tax Service provider for the Squamish Nation and its commercial businesses for the years ended March 31, 2020 (for the Nation audit) and December 31, 2019 (for the commercial entity audits). This decision was made by the Squamish Nation Council with recommendations made from members of the Finance and Audit Committee as well as the Director of Finance. The Squamish Nation and PwC will conclude on a one-year agreement for services, with an option to extend for up to four (4) additional years (as mutually agreed by the Nation and PwC). We believe that after working with Deloitte for a number of years, the appointment of PwC as the new Auditor and Tax Service provider will bring fresh ideas, approaches, and advice to provide more meaningful and timely information to membership.

Sincerely,

Chris Mullen, CPA, CA,
Director of Finance

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