The Town of Vermilion has appointed a new auditor for the upcoming year.
Council made the motion to appoint Metrix Group LLP as the town’s auditor at the Aug. 12 meeting. The cost is $45,675 and includes the optional services the auditor can provide. The appointment of the auditor runs until the end of this year with the option to extend for the 2026 and 2027 fiscal years.
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Administration put out a request for quotes, which were circulated online and emailed to auditing firms. The town only received two submissions after two months, one from Metrix Group and one from MNP LLP.
When comparing the two proposals, Metrix Group came out on top.
“Administratively, we compared both proposals. Due to fees and the level of service, we think we would get comparable services from both firms, however, the Metrix groups proposal overall was more cost effective,” said Shannon Harrower, CAO. “Under their proposal, they would conduct either most of the auditing remotely (or) come a few days on site, which was included.
“Their presentation also includes a comprehensive presentation to council.”
Deputy Mayor Joshua Rayment asked what the cost increase is from the last auditing firm.
“Based on the records, it’s about $11,000 difference,” said Harrower. “It is a substantial increase, however, the reports and the scope of the audit is going to be more in-depth via Metrix Group than it was previously completed with J.D.P Wasserman.”
Coun. Robert Snow said the proposal looked solid.
“Looking at their proposal, it seems very thorough, very professional. If this is a mark of what they provide, I think it’s a good choice,” he said.
Snow said the price is reasonable for the amount of work the company is offering to do. Rayment agreed with the fair pricing.
“Being on many different boards and committees, we see the cost of auditors at every board we sit on,” said Rayment. “Seeing this, it seems very realistic. I sit on much, much smaller boards with less information to go through and its similarly priced. I think it’s great value.”
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