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Inside Internal Controls

News and discussion on implementing risk management

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Business and Legal Issues

Document discovery and native documents: Document production must be “usable”

The recent Alberta case of Bard v. Canadian Natural Resources provides a road map for compelling the production of native electronic documents in “usable” form.

 

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The current state of risk management

But here is the key question. If the leaders of the organization are not persuaded that risk management is adding value by enabling success, and believe that there are better ways to invest scarce resources, why should we surprised that the risk management activity is under–funded?

 

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Ontario Superior Court comments on director and officer duties

A recent decision of the Ontario Superior Court of Justice addresses directors’ duties towards the corporation and its employees. Specifically, the court addressed whether a director or officer’s fiduciary duties extend to protecting an employee from the consequences of that employee’s own fraudulent acts.

 

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Protecting trade secrets using non-disclosure agreements

In Canada, the issue of whether an NDA may be an unenforceable restraint of trade has been explored in the employment law context, however, there has been very little discussion as to whether an NDA could be considered a restraint of trade in transactions between two or more businesses. There has also been little discussion in Canada as to the distinction between trade secrets and ordinary confidential information. As such, US case law may provide some guidance.

 

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Is there a duty of device security? U.S. regulator fires warning shot over obligations of IoT manufacturers

A complaint filed by the U.S. Federal Trade Commission against D-Link Corporation, a Taiwanese computer networking equipment manufacturer, and its U.S. subsidiary, is raising questions about the extent of responsibility that networking equipment manufacturers may have for the security of their products, and how much of that responsibility rests with consumers and end users.

 

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The value of a risk register

A risk register makes you feel good. It makes you feel you have accomplished something, a list of risks that might cause harm to the organization. It makes the executive team and the board feel that they can check the box: “do you have a risk management program? Yes.” But, does that risk register help people formulate and then execute the right strategies for the organization to deliver optimal value?

 

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Missing comma means millions in overtime pay

The case involved an ambiguity in a Maine statute dealing with overtime pay. Under the statute, employees involved in certain activities were exempt from the overtime provisions, so they were not entitled to overtime pay. A group of drivers in Oakhurst argued that they were entitled to overtime pay.

 

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Risk in the fourth dimension

The word, a magic word with amazing power, is “why”. Let’s think of the power of this word when it comes to risk and risk management.

 

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Privacy law: The Supreme Court of Canada’s Royal Bank of Canada v. Trang

The Supreme Court of Canada released a landmark decision giving important guidance on when personal financial information may be disclosed under Canada’s federal privacy law, the Personal Information Protection and Electronic Documents Act.

 

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Saskatchewan court upholds electronic waiver as enforceable

The decision in Quilichini v Wilson provides affirmation to business owners (especially those in the recreational industry) that a well–drafted electronic waiver and release that is properly presented in an understandable format will likely be held to be enforceable.

 

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What’s in a slogan? Federal Court issues interlocutory injunction in trademark infringement case

The Federal Court granted an interlocutory injunction restraining Sears from using the slogan “There is no reason to buy a mattress anywhere else”. Sleep Country owns two Canadian trademark registrations for the slogan “Why buy a mattress anywhere else?”. The slogan, and its accompanying musical jingle, have been used by Sleep Country in television, print, radio, and online advertising and promotional campaigns since 1994.

 

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Federal Budget 2017-18: Impact on businesses

federal budget 2017

On March 22, 2017, Canada’s Finance Minister Bill Morneau tabled the Liberal Government’s Federal Budget 2017, Building a Strong Middle Class, which includes various measures affecting businesses. The federal budget 2017 is modest and is focused on skills training, innovation and how Canada will promote sustainable growth. The government is forecasting a deficit of $28.5-billion, […]

 

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$8 million awarded for employer retaliation claim following Whistleblower Report

While massive awards paid out by regulators to whistleblowers continue to dominate headlines, a U.S. jury recently awarded a significant damages award to a former employee who alleged that his employer retaliated against him after he reported misconduct.

 

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New guidance on operational risk

When an organization is focused on avoiding failure, it is very hard to be successful. Operational risk is basically about the things that can go wrong in day–to–day processes that can trip you up. It is impossible to eliminate such risk. The best you can hope for is to take a level of risk that is appropriate given the business and what it takes to be successful.

 

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Guidelines on the National Security Review of Investments

With the highly anticipated release of its Guidelines on the National Security Review of Investments, the Canadian government has finally shed some light on circumstances which may draw investors and parties involved in the investment into the realm of a national security review.

 

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