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News and discussion on implementing risk management

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Should you adopt the updated COSO ERM Framework? My assessment

It has been 13 years since the original COSO ERM Framework and eight years since ISO 31000:2009 was published. The updated COSO ERM Framework was an opportunity for COSO to “leap forward”. But did it?

 

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BCCA eyes enforceability of restrictive covenant in IRIS appeal

Restrictive covenants are often a key component of employment agreements and commercial transactions. Enforceability, however, can be challenging, especially in the employment context

 

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How well did COSO address comments on the ERM draft?

My impression is that COSO only tinkered with the draft. But, have they done enough to move practices forward, in the right direction? Will this update change the percentage of executives answering the piercing question by Deloitte, “Does risk management support, at a high level, the ability to develop and execute business strategies”, up from 13% close to 80%?

 

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When federal insolvency laws and provincial labour laws collide

The intersection between insolvency law and labour law has long created a struggle between balancing the rights of employees and maintaining a mechanism for restructuring or liquidating distressed companies.

 

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The root compliance problem: Shadow process

Sometimes I revisit my compliance roots in the world of Sarbanes-Oxley – a place much more concerned with financial reporting than corporate ethics and culture, I know. Yet lessons from one group that can help the other still abound.

 

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A conversation about risk with a CEO

Leaving the word “risk” out of a risk discussion with an executive can prove to be a positive way forward when asking what can go right for a project rather than what might go wrong.

 

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Major changes to Canada’s export and technology transfer controls coming into force shortly

The Government of Canada has announced that a new version of the Guide to Canada’s Export Controls (the “Guide”) will come into effect on August 11, 2017. The Guide lists the goods and technology subject to export and technology transfer controls.

 

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Six principles for effective risk management

In World-Class Risk Management, I review the eleven principles in the ISO 31000:2009 global risk management standard and condense them to just six.

 

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Survival of the fittest: How can technology help small businesses thrive?

Canada’s failure rate for small and medium sized businesses is staggeringly high. Around one half of small and medium sized businesses survive past five years, while 15% don’t last a year. Today’s smaller businesses face a daunting task. The complexities of today’s market have created new risks, and myriad laws and regulations that can overwhelm just about any sized business.

 

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PwC confuses boards on risk oversight

The report from PwC has a useful discussion about whether the organization’s disclosures about risk are complete and sufficient to satisfy investors.

 

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Update on recoverable disbursements: The recoverability of after the event or ATE insurance premiums

Whether you win or lose, litigation can be an expensive endeavour. While some of those costs may ultimately be recovered from the other party in the course of the litigation, recent case law suggests that the premiums paid for After The Event (“ATE”) insurance (also known as adverse costs protection insurance) are unrecoverable.

 

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Processes to support information technology effectiveness reviews

This blog post reminds organizations that they should take the time to conduct information technology effectiveness reviews, to evaluate and improve the IT department’s role in achieving the organization’s goals.

 

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Is a subcontractor a successor or related employer for labour relations purposes?

In a recent decision, Molson Coors Canada, the Ontario Labour Relations Board (the “Board”) held that the subcontracting relationship between Molson Coors Canada (“MCC”) and Sherway Warehousing Inc. (“Sherway”) did not amount to a sale of business nor were MCC and Sherway related employers under the Labour Relations Act (“LRA”).

 

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Two words to transform discussions of risk management: risk to objectives

I have written extensively about the disconnect between risk practitioners and executives when it comes to risk management.

 

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Federal Court of Appeal denies CRA routine access to tax accrual working papers

On March 30, 2017, the Federal Court of Appeal (FCA) released its decision in BP Canada Energy Company v. MNR (2017 FCA 61), dealing with whether the Minister of National Revenue (the Minister) could compel the taxpayer to disclose the uncertain tax positions reflected in its tax accrual working papers (TAWPs).

 

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