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News and discussion on implementing risk management

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Business and Legal Issues

You can’t delegate ethics on the issue of sexual harassment

There is no denying the alarming scope and prevalence of workplace sexual harassment. For the past several months, it seems not a day goes by without news of another troubling example of egregious workplace behavior. Victims of sexual harassment have moved beyond simply speaking up; they are now standing up, speaking out and making sure their voices are heard.

 

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Is asking about risk culture the right question?

If you don’t have a consistent attitude towards taking risk among the few members of the executive team, how can you expect to have a consistent attitude among the population of employees and decision-makers?

 

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Canadian Competition Bureau releases final fintech report

The Bureau’s final fintech report is intended as guidance for financial services sector regulators and policymakers. The following are the key takeaways, which were covered in more detail when the draft report was issued.

 

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Posting security to discharge a builders lien

One of the means available to discharge a lien quickly is to apply to the Court further to s. 24 of the Builders Lien Act. Through this section any land owner and any party liable on contract or subcontract in connection with the improvement giving rise to the lien can apply to post money into court that will stand as security for the lien.

 

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Risk and game theory

game theory

The Cuban Missile Crisis is frequently cited as an example of the use of Game Theory. I am talking about the situation confronting the Kennedy government when they found that the USSR had installed missiles in Cuba that were capable of hitting American cities with nuclear weapons. Here is a link to a summary of […]

 

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Charities can now help businesses in the aftermath of disasters

aftermath of disasters

In August 2017, the Canada Revenue Agency (“CRA”) updated its Guidance CG-014 on community economic development (“CED”) activities and charitable registration. There were a number of updates to the Guidance, but the most significant was the inclusion of the statement that charities are now able to support, on a more long-term basis, the efforts of businesses that are helping to rebuild communities affected by disaster.

 

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Not-for-profits need a plan to determine whether to take a stand or policy position

Not-for-profits should continuously assess current and emerging issues to determine whether to take a stand or policy position. Emerging issues may be strategically important to the organization and are often time-sensitive; the opportunity to take a stand on an issue may be fleeting because attention may soon be re-directed to something new. Not-for-profits will need […]

 

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Alberta proposes significant amendments to consumer protection legislation

Bill 31 makes amendments to consumer protection legislation and addresses a number of items, including negative consumer reviews, ticket sales and resales, veterinary services, car sales and repairs, and changes to the Alberta Motor Vehicle Industry Council. On November 29, 2017, the Government of Alberta introduced Bill 31: A Better Deal for Consumers and Businesses […]

 

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Do we understand what a risk event is?

COSO ERM talks about the possible effect of an event on objectives, and in common parlance we are talking about something happening that has an effect on the organization. (COSO thinks of risk as the possibility of that event occurring; ISO talks about risk as the effect of what might happen on objectives.)

 

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Standing committee released its report on Canada’s Anti-Spam Law

According to Micheal Geist, Professor of Law Canada Research Chair in Internet and E-commerce Law Faculty of Law, Common Law Section Centre for Law, Technology and Society, “the committee has asked the government for a detailed response to the report, which should be forthcoming in the spring. The government can be expected to fully support the enforcement recommendations, but retain flexibility on the recommendations for further clarification

 

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Top 10 most-read Inside Internal Controls posts for 2017 and Season’s greetings

We are signing off with a list of the top 10 most-read Inside Internal Controls posts for 2017. This year on the Inside Internal Controls blog we’ve been covering some of the hot topics in internal controls, governance, information technology, not-for-profit, and business management among others. The top 10 most-read Inside Internal Controls posts for 2017 include:

 

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Not so happy New Year: Ontario rewards points legislation coming into force January 1, 2018

Ever since Ontario’s legislature passed the Protecting Rewards Points Act (Consumer Protection Amendment), 2016 (Act) prohibiting the expiration of rewards points in consumer loyalty programs, the retail industry has been waiting for the publication of the associated regulation that would provide more detail about the prohibition, along with some exceptions to the prohibition. The wait is now over, as the Ontario government recently published Ontario Regulation 388/17 (the Regulation), which will come into force on January 1, 2018.

 

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Alberta Court of Appeal reaffirms importance of considering factual matrix in contractual interpretation

The rules of contractual interpretation have evolved significantly in the last several years in Canada. At one time, the circumstances surrounding the preparation of a contract were rarely considered by the courts; the courts preferred to look within the “four walls” of the contract to interpret ambiguous phrases or to resolve uncertainties. More recently, however, the courts have begun to consider all of the circumstances involved in the drafting of the contract in order to give meaning to it and to ensure that the intention of the parties is carried out.

 

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Proposed foreign merger rollovers rules: Welcome news to foreign companies that cannot rely on existing tax treaty rollover provisions

On October 27, 2017, under Bill C-63, the Department of Finance released proposed amendments to the Income Tax Act (Canada) (“ITA”) introducing a new elective rule allowing non-residents tax-deferred rollover treatment on dispositions of certain taxable Canadian property (“TCP”) in a foreign merger.

 

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Name is psychological safety but my friends call me culture

psychological safety

Psychological safety refers to the climate in which people operate, think and speak. A psychologically safe climate is one in which people feel comfortable being themselves and expressing themselves without the fear of retribution. This concept is directly applicable to the group dynamics of teams trying to spitball the next big thing; however, when we expand this view to our largest corporate group, the employee base, we start to see a lot of overlap with a true speak-up culture.

 

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