First Reference company logo

Inside Internal Controls

News and discussion on implementing risk management

machine cogs image

Announcements and Administration

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.

 

, , , , , , , , , , , , , , , , , , , ,

Canada begins NAFTA consultations

These NAFTA consultations offer a significant opportunity for companies to have input on the primary drivers of their access to Canadian, US and Mexican markets. With the EU-Canada CETA coming into force in the coming months, Canada will be in the unique position of having preferential trading and investment relationships with the world’s two largest economies.

 

, , , , , , , , , ,

Budget 2017 focus on anti-money laundering and anti-terrorist financing

Given recent issues, it is no wonder that anti-money laundering and anti-terrorist financing (AML/ATF) received significant attention in this year’s federal budget (“Budget 2017”). Organizations can expect changes to the AML/ATF regime, and should monitor developments in this area.

 

, , , , , , , , , ,

Anti-money laundering and anti-terrorist financing developments

New anti-money laundering and terrorist financing guidelines by the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) are now in force. FINTRAC recently released new guidelines in respect of politically exposed persons and Heads of International Organizations. The Guidelines were effective June 17, 2017, and complement new regulatory provisions which came into force on June 17, 2017, under the Proceeds of Crime and Terrorist Financing Act.

 

, , , , , , , , ,

Investment Canada Act pre-merger review threshold increases to $ 1 billion

Canada’s planned increase to the generally applicable threshold for “net benefit” reviews under the Investment Canada Act (ICA) from $800 million to $1 billion became effective June 22, 2017. The new threshold, should have the effect of exempting most investments or dispositions by WTO investors from the “net benefit to Canada” review process under the ICA.

 

, , ,

Ontario Introduces Bill 142, Construction Lien Amendment Act, 2017: It’s much more than just liens!

On May 31, 2017, Ontario Attorney-General Yasir Naqvi introduced Bill 142, entitled “Construction Lien Amendment Act, 2017”. The Bill follows upon a report commissioned by the Ontario government and prepared by Bruce Reynolds and Sharon Vogel entitled “Striking the Balance: Expert Review of Ontario’s Construction Lien Act”. If enacted, the proposed legislation will introduce what is arguably the most sweeping set of changes that the Canadian construction industry has ever seen.

 

, , , , , ,

CRA’s Report on the Charities Program 2015-16

In January 2017, the CRA released its Report on the Charities Program 2015–2016, which provides interesting insights into Canada’s charitable sector. A common thread weaving through issues related to obtaining and maintaining charitable status is the need to create, maintain, and report/file information required by the Charities Directorate and the Income Tax Act.

 

, , , , , , , , , ,

Introducing our newest guest blogger: Nate Vickery

We are very pleased to announce that Nate Vickery will be blogging regularly on Inside Internal Controls!

 

, ,

New Ontario statutes in effect December 10, 2016

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.

 

, , , , , , , ,

Top 10 most read Inside Internal Controls posts published in 2015 and Season’s Greetings

The holidays are upon us and it is time to take a well deserved break. Please note that we will not be blogging during the holiday season from Thursday December 24, 2015 at noon to Friday January 1, 2016, inclusive. Our bloggers will resume sharing their expertise and interesting developments in the world of risk management and internal controls on Monday January 4, 2016…

 

, , , , , , ,

Top 10 most read Inside Internal Controls posts published in 2014 and Season’s Greetings

The holidays are upon us and it is time to take a well deserved break. We are signing off for 2014 with a list of the top 10 most read posts published in 2014. Although Canada’s anti-spam legislation dominated the list, accessibility, internal controls and charities were also very topical.

 

, , , , , , , , , ,

Introducing our newest guest blogger The Disability Network

We are very pleased to announce that The Disability Network (TDN) team members headed by Jerry Ford will be blogging on First Reference Talks and Inside Internal Controls.

 

, , , , ,

Introducing guest blogger Zach Aysan and Venn

It’s a pleasure to welcome Zach Aysan, Venn as a guest blogger. Zach will be blogging on behalf of Venn on information technology and risk that plague most modern work environments, including web applications and internal tools that help people figure out their data.

 

Public holiday reminders, season’s greetings and holiday break

The team at First Reference Inc. and Inside Internal Controls blog wishes everyone a very Happy Holiday Season and all the best for the New Year! / L’Équipe de La Référence et du billet Inside Internal Controls blog vous souhaite de belles fêtes et une bonne et heureuse année. In addition, we would like to remind you of the three public/statutory holidays…

 

, , , , , , , , , , , , , ,

Season’s greetings and holiday break

The team at First Reference Inc. and Inside Internal Controls blog wishes everyone a very Happy Holiday Season and all the best for the New Year!

 

Previous Posts