The value-for-money audit has now been completed. You can read the results of it here.
The Ontario auditor general is conducting a value-for-money audit of Waterfront Toronto, The Logic has learned. A source familiar with the proceedings said the audit is looking closely at Waterfront Toronto’s operations related to its partnership with Sidewalk Labs, Google’s sister company.
In an email, the Office of the Auditor General of Ontario confirmed that it is conducting an audit of the Toronto Waterfront Revitalization Corporation, and that it was initiated by Ontario Auditor General Bonnie Lysyk during her annual selection process.
A value-for-money audit—which looks into the use of public funds—of an agency like Waterfront Toronto is a rare measure.
“It is neither routine, nor is it common,” said Donald J. Savoie, professor at the Université de Moncton and one of Canada’s most highly-regarded experts in public administration.