An interesting interview with Eugene Soltes, the Jakurski Family Associate Professor of Business Administration at Harvard Business School, appeared in the Harvard Business School’s Working Knowledge publication. According to the school, “his research focuses on how individuals and organizations confront and overcome challenging situations”. “Why White-Collar Criminals Commit Their Crimes” is an ‘author interview’, Soltes having written Why they do it: Inside the mind of the white-collar criminal. I have not read the book, but suggest that those with continuing responsibility for detecting and/or investigating fraud might want to do so.
The new requirements may be particularly onerous for corporations like home–builders or condominium developers, or any other corporation which may have hundreds or thousands of ownership interests in land.
Risk management, whether you call it enterprise risk management, strategic risk management, or something else, is about helping an organization achieve its objectives. All the standards, frameworks, and guidelines talk about risk in terms of its ability to affect the achievement of the organization’s objectives. Some things might happen that will help and some that will interfere with our progress.
Even though both COSO ERM and ISO 31000:2009 are evolving, moving to a greater emphasis on decision-–making and the setting and execution of strategy, the practice of managing risk continues to lag. I have written in my blogs and spoken in person to thought leaders involved in both COSO ERM and ISO 31000 updates about the need to take a huge leap forward. When the practice is seen as failing to contribute to success, and limited to a compliance function, something dramatic has to happen.
The Accessibility Advisory Council’s (AAC) is inviting interested stakeholders to provide their views to its initial proposal for accessible employment standards. Therefore, employment is the second of five accessibility standards being developed under the Accessibility for Manitobans Act (AMA).
On November 2, 2016, the government proposed Nova Scotia accessibility legislation to promote equality of opportunity and increase the inclusion and participation of Nova Scotians who have disabilities or functional limitations in all areas of everyday life by promoting and encouraging the prevention, reduction and removal of barriers.
The news about the Wells Fargo staff ‘scam’ (the word used in this article in SC magazine) is mind-boggling. What I found mind-boggling is that (according to CNN Money) Wells Fargo had to fire about 5,300 workers (out of a total staff estimated at 265,000, or 2% of all employees). When 2% of employees were fired, you have to assume that more people knew or should have known. The prevailing Wells Fargo culture in reality was to do what was right for the staff, not the customers!
How do you expect a CEO to believe risk management enables success when all the CRO gives him is a list of what could go wrong? He needs help to see what might happen, both good and bad, and what to do about it—in other words, risk management needs to be seen by the CEO as helping him or her get where he or she needs to go. Do you share my view? If so, how do we move both the practitioner and academic community?
Practically every tax professional in the country has had to deal with the situation which arises when the Canada Revenue Agency (CRA) bases its reassessing position on the basis of an oral comment to the CRA. The difficulty is that there is no proof the comment was made or it may have been the result of a misunderstanding between the parties. In our practice we had one instance where a comment by an official of a charity to the CRA served as basis for reassessing over a thousand taxpayers. While the official admitted to having made the comment the fact was that the CRA auditor had misunderstood the context in which it was made.