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Inside Internal Controls

News and discussion on implementing risk management

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Author Archive - Occasional Contributors

In addition to our regular guest bloggers, Inside Internal Controls blog published by First Reference, provides occasional guest post opportunities from various subject matter experts on the topics of risk management and best practices in finance and accounting, information technology, environmental issues, corporate governance, sales/marketing and operations, not-for-profits and business related issues in Canada. If you are a subject matter expert and would like to become an occasional blogger, please contact Yosie Saint-Cyr at editor@firstreference.com. If you liked this post and would like to subscribe to Inside Internal Controls blog click here.

Federal Court of Appeal holds Canada Revenue Agency does not have the power to compel oral interviews during audit

The Canada Revenue Agency (CRA) has increasingly requested oral interviews during audits, particularly in transfer pricing audits. In Minister of National Revenue v. Cameco Corporation, the CRA sought an order compelling employees of the Cameco group to attend oral interviews. The decision of the Federal Court of Appeal (FCA) will be welcomed by taxpayers as it holds that an auditor does not have the power to compel such interviews.

 

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Behind the corporate veil: New ownership record rules in Canada

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On December 13, 2018, Bill C-86 received royal assent. This Bill contains a series of amendments to the CBCA pertaining to the tracking and recording of “individuals with significant control” (“ISCs”) over a corporation.

 

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Ad Standards announces new dispute procedure

Advertising Standards Canada, the national self-regulatory body that administers the Canadian Code of Advertising Standards, recently launched its new process for handling competitive complaints. The new Advertising Dispute Procedure came into effect on February 11, 2019.

 

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Inter-jurisdictional enforcement against cryptocurrency-related financial products

In its first enforcement decision concerning cryptocurrency, the Ontario Securities Commission permanently prohibited USI-Tech Limited from trading in securities or derivatives based on its promotion of cryptocurrency-related financial products in Ontario.

 

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Breach of contract and repudiation: Affirm or accept the repudiation, not both

One of the more difficult issues in contractual disputes is sorting out what rights and obligations continue to exist when a party to a contract breaches the terms of the contract. Broadly speaking, the party that is in breach of a contract is refusing to perform duties or obligations under that contract and, as a result, is repudiating the contract.

 

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Good faith in insurance dealings: A two way street

It is commonly known that contracts of insurance are contracts of utmost good faith, requiring the parties to deal with each other fairly and in good faith.

 

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Does my food ad market to kids? Draft guidance on Bill S-228

Bill S-228, “An Act to amend the Food and Drugs Act (prohibiting food and beverage marketing directed at children)”, has been undergoing legislative review since late 2016. It has been the subject of much debate and is still awaiting Royal Assent.

 

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Osler submission to OECD on public consultation document addressing the tax challenges of the digitalisation of the economy

Osler made a submission [PDF] to the OECD in response to its February 13, 2019 public consultation document on the possible solutions to the tax challenges of digitalization (the 2019 Public Consultation Document).

 

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Franchise article series: Franchise disclosure document

One of the main features under the Franchises Act has been the implementation of a Franchise Disclosure Document. The Franchise Disclosure Document is intended to summarize all material facts regarding the franchise.

 

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Canadian Federal Budget 2019 and its impact on non-profits and charities

Finance Minister Morneau delivered the 2019 Federal Budget on March 19, 2019. Here is our article.

 

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Québec moves to tax digital goods and the virtual marketplace

Changes to the rules related to the Québec Sales Tax (QST) may mean that your company is now required to collect the QST on sales even if you have no connection to Québec.

 

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Benefits of industry group intervention in the Federal Court of Canada

The Federal Court is tasked with hearing a wide variety of judicial review applications that can have a substantial impact on Canadian industry and technology sectors.

 

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The game changer: OSC awards $7.5 million to three whistleblowers

The Ontario Securities Commission (the OSC) recently announced that it has awarded nearly $7.5 million to three whistleblowers on separate matters as part of its relatively nascent whistleblower program, which came into effect in 2016.

 

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Apple lawyer charged with insider trading

The recent insider trading case of a former senior lawyer at Apple Inc. serves as a reminder that those tasked with upholding a company’s insider trading rules are expected to ‘walk the walk’ when it comes to complying with ethical and legal obligations in handling confidential information. This case and similar prior cases remind us that counsel and firms ought to be vigilant and take proactive steps to monitor and enforce insider trading programs.

 

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