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Inside Internal Controls

News and discussion on implementing risk management

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How good is your chief risk officer?

A chief risk officer requires certain characteristics to succeed at being the leader of risk management in any organization. This article provides a list of critical attributes for such a leader.

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Shareholders have fundamental right to call meetings, Ontario appeal court rules

Court limits ability to refuse a proposal based on “personal grievance” exemption… The Court gave some considerations on the shareholders fundamental right to call meetings, on how to differentiate between “personal grievances” that are not properly matters for a shareholder meeting, and the business and affairs of the company, which are proper matters.

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Small change large consequences: Ontario’s regulatory change to the payment of directors

Directors simply cannot benefit from the property of a charity whether registered or not, either directly or indirectly. This article explains why and details recent amendments to Ontario’s rules to allow charities to pay directors for goods and services rendered.

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Government of Ontario issues consultation paper on alternative financial services

The Consultation Paper is one of a series of consultation papers issued by the Government of Ontario following the enactment of Bill C-59, which amended the Consumer Protection Act, 2002 and which addressed various items including payday loans and debt collection.

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Revenue Generation for Charities

The Canada Revenue Agency’s policy statement, “What is a related business?”, describes the rules charities need to follow when considering a revenue-generating activity.

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A conversation about risk with a CEO

Leaving the word “risk” out of a risk discussion with an executive can prove to be a positive way forward when asking what can go right for a project rather than what might go wrong.

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What HR needs to know about investigating an employee’s digital activity

You’ve been asked to review the digital activity of an employee. Your company has some concerns, and wants you to investigate. With the amount of enterprise-level technology and controls that most companies now have, shouldn’t that be fairly straightforward?

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Major changes to Canada’s export and technology transfer controls coming into force shortly

The Government of Canada has announced that a new version of the Guide to Canada’s Export Controls (the “Guide”) will come into effect on August 11, 2017. The Guide lists the goods and technology subject to export and technology transfer controls.

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Much ado about nothing? Why directors should think about committee governance

Most not-for-profit organisations establish one or more committees to perform various roles. These committees can play an important role in the proper management and governance of the NPO.

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Wells Fargo and KPMG – did KPMG fail the investors?

My friend Francine McKenna recently had a piece (she is co-author) published by MarketWatch: Where was KPMG, Wells Fargo’s auditor, while the funny business was going on? It is scathing in its discussion of the role played by KPMG.

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New proposals on the taxation of private corporations can result in double taxation

This article discusses the new proposals on the taxation of private corporations that will prevent some normal post death tax planning aimed at preventing double taxation of the same economic gain.

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Canada Revenue Agency (CRA) updates for charities and other not-for-profits

Canada Revenue Agency recently released the following updates which are of interest to charities and other not-for-profits.

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Owners of private corporations – be aware

On July 18, 2017, the Department of Finance released its much-anticipated consultation paper, “Tax Planning Using Private Corporations”, announced in the 2017 federal budget (the “consultation paper”). The consultation paper, along with the draft legislation released therewith, contain a number of fundamental changes to the taxation of private corporations and family trusts.

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Privacy Commissioner’s report on public perception of companies’ privacy practices holds lessons for business

The Office of the Privacy Commissioner of Canada (“OPC”) recently released a preliminary report outlining the results of a series of focus groups conducted with Canadians about privacy and the protection of personal information.

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Protecting trade secrets when employees depart

Several recent court cases in the United States focus on the misappropriation of trade secrets by employees departing technology companies. These high profile American cases are a reminder that Canadian companies face the same issues.

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