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Inside Internal Controls

News and discussion on implementing risk management

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Corporate Administration

CASL’s private right of action for Competition Act reviewable conduct

While much has been written about the impending CASL private rights of action, less has been said about the new private right of action CASL will tack on to the Competition Act for misrepresentations in electronic messages.

 

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Ontario court decides ground-breaking online copyright case

Trader Corp v CarGurus Inc, a recent Ontario Superior Court decision, breaks a staggering amount of new ground in Canadian copyright law.

 

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The risk of material errors in the quarterly financial statements

Audit Analytics has released some interesting statistics on financial restatements and SOX. According to them, in 2015 about 5.3% of companies assessed their internal control over financial reporting (ICFR) as ineffective. This is down from 5.8% in 2014 but otherwise the highest level since 2008. This is the key section of their report.

 

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Getting rid of troublesome members: Read your bylaws carefully!

A recent decision is a reminder that simply following the rules of governing bylaws to get rid of a member may not be sufficient. The member could retain his or her status, accuse the board of acting in bad faith, and the organization could suffer extensive costs if a court finds that the bylaws relied upon in expelling the member fail to meet certain minimum requirements.

 

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Real answers to common questions on cybersecurity

Every day there is something in the news about organizations generally of all different sizes that have been breached and have had to deal with the impact of the loss, compromise or destruction of data. Making key decision-makers aware of the general threat landscape is helpful, but more helpful is making them aware of the threat landscape specific to your organization.

 

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Availability of non-infringing product is relevant in determining profit recovery for infringing activities

In a recent decision, the Federal Court of Appeal determined that the Federal Court erred in law by rejecting the relevance at law of any available non-infringing product and failed to adequately consider the evidence adduced as to the ability and willingness of three suppliers to provide non-infringing product.

 

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Cyber and reputation risk are dominoes

As I was reading the book, I realized that I have a problem with organizations placing separate attention to reputation risk and its management. It’s simply an element, which should not be overlooked, in how any organization manages risk – or, I should say, how it considers what might happen in its decision-making activities.

 

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Trump administration takes aim at Chapter 19 of NAFTA, U.S. wish list for NAFTA renegotiations and more

In this week’s brief, we look at the U.S. administration’s wish list for NAFTA renegotiations — along with the draft notice and its parallels to the Trans-Pacific Partnership — the Trump administration taking aim at Chapter 19 of NAFTA, the U.S. border tax proposal, as well as the NAFTA Rules of Origin.

 

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Lawful access: The Privacy Commissioner reiterates its position

Patricia Kosseim, Senior General Counsel and Director General, Legal Services, Policy, Research and Technology Analysis for the Office of the Privacy Commissioner of Canada, was asked, at the request of Commission’s counsel, to provide an overview of the legislation for protecting privacy in Canada and to answer questions about lawful access issues from a federal perspective.

 

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CCOs say policies are getting stronger; adoption of technology – not so much

KPMG recently published its latest survey of chief compliance officers. The report highlights the increasing value of effective Compliance. It also reveals growing pains of our industry, specifically in maximizing efficiencies.

 

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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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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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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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