TORONTO, May 15, 2013-Toronto Community Housing President and Chief Executive Officer Eugene Jones Jr. issued the following statement today.
We are moving forward with our investigation into whether work performed by outside vendors is providing value for money and whether staff have awarded this work properly.
The board has approved a recommendation to hire a forensic accounting firm to conduct further analysis of documents, data and trends that were uncovered in relation to certain contractors as part of a confidential review by a third-party firm, Executek International.
The company's work to engage a forensic accountant will begin immediately. The audit will uncover the facts and address these matters in a comprehensive way, so they can be resolved in the best interests of the corporation.
Currently, we plan to turn over at least two cases to the Toronto Police for investigation of possible criminal wrongdoing based on Executek's findings. The forensic audit will help determine whether additional cases will be turned over to the police or whether civil action should be pursued.
I would like to thank Executek for their work, which will be completed by the end of May. The firm's estimated total fees for this assignment are just under $155,000.
I remain committed to upholding the highest standards of accountability and ethical behaviour at Toronto Community Housing. We must always get the best possible value from every dollar we spend, and provide the best possible service to our residents.
NOTE: No media availability will be provided today or while the forensic audit is ongoing. Toronto Community Housing will release further information once the forensic audit is concluded.
About Toronto Community Housing
Toronto Community Housing (www.torontohousing.ca) is Canada's largest social housing provider and home to more than 164,000 tenants with low and moderate incomes. It works to provide quality affordable housing, connect residents to services and opportunities, and build healthy communities.