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News and discussion on implementing risk management

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Excellent advice for all of us involved in managing risk

The International Federation of Accountants (IFAC) has published a first class document, Enabling the accountant’s role in effective enterprise risk management.

 

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Transforming risk management in 2019 and beyond

The consideration of risk is integrated into the setting and then the execution of strategies through daily decisions.

 

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Department of Finance Canada issues consultation paper on open banking

On January 11, 2019, the Department of Finance Canada released a consultation paper seeking the views of Canadians on the potential benefits and risks of an open banking system.

 

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Advice for audit committees and oversight of external auditor

While it is clear that the role of the external auditor is important and that the audit committee is charged with their oversight, it is unusual to see advice on how that oversight should be discharged.

 

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Alberta High-Cost Credit Business Regulation to become effective January 1, 2019

On November 29, 2017, the Government of Alberta introduced Bill 31: A Better Deal for Consumers and Businesses Act (“Bill 31”) setting out various changes to the Fair Trading Act (including changing the name of the legislation to the Consumer Protection Act) (the “Act”). Bill 31 introduced various new requirements applicable to “high-cost credit businesses”, including a requirement to obtain a “high-cost credit licence.”

 

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Ontario Court of Appeal applies foreign law, dismisses cross-border class action

On December 21, 2018, the Ontario Court of Appeal released its decision in Das v George Weston Limited (“Das”), a proposed class action relating to the collapse of an industrial building in Bangladesh.

 

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Transparency & trust: The underlying themes of top 10 ethics & compliance trends

As we prepare for the publication of our 2019 Top 10 Ethics & Compliance Trends Report, a common thread has become evident: transparency.

 

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Stop managing and start taking risk

Success in business is taking the right level of the right risks. It all comes down to helping leaders make informed and intelligent decisions.

 

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Are you making false representations in your franchise agreement?

Is it possible that an otherwise well-written franchise agreement might itself contain false representations by the franchisor?

 

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Why is internal audit not seen positively?

One of the findings in a new report by Deloitte, their 2018 Global Chief Audit Executive research survey, is that only 33% of CAEs believe their function is seen positively.

 

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CPTPP implemented in Canada: What you need to know

In this international trade brief, we discuss the implementation of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and why this international trade arrangement presents yet another immense opportunity and challenge for Canadian businesses.

 

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Supreme Court of Canada rules in favour of lenders in Callidus

In a 2017 judgment discussed here, the Federal Court of Appeal permitted the CRA to assert a claim against a secured creditor who had received a repayment from its borrower prior to bankruptcy when the borrower also owed unremitted GST obligations to the Crown.

 

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Top 10 most-read Inside Internal Controls posts for 2018

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.

 

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Influencer marketing: Understanding disclosure best practices

From the Instagram model advertising gifted products to the geek blogger paid to review video games, influencer advertising is now everywhere. Digital marketing is rapidly evolving (the world even saw its first CGI influencer earlier this year), and regulators are adapting accordingly.

 

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Who takes cyber risk?

Who is taking cyber risk? Is it the board and top management who are deciding how much scarce resource to invest in breach prevention, detection and response? Or is it the business leaders whose initiatives are damaged or worse should there be a security incident?

 

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