First Reference company logo

Inside Internal Controls

News and discussion on implementing risk management

machine cogs image

Corporate Governance

Is your ERM program as useful as a GPS?

An ERM program. like a GPS, helps with making informed and (hopefully) intelligent decisions so that objectives can be reached safely and on time.

 

, , ,

Only the clearest release will stop a class action: Superior Court of Québec authorizes class action by former employees against Air Canada

The Court authorized the class action on the basis that it was arguable that Air Canada had deliberately violated the Act by reducing the volume of work sent to Aveos, knowing that this would cause it to cease operations.

 

, ,

Has #MeToo changed the game for board-level compliance training?

Organizations should be applauded for their improvements in board compliance training. But they need to keep working, to channel their increased focus on board awareness and to make sure that their directors are getting the right training to truly lead their organizations.

 

, , , , , ,

Target 2030 and beyond: BC government unveils legislation to update greenhouse gas reduction targets

The British Columbia government has emphasized its intention to “remove barriers, and make it attractive and affordable for people, communities and industry to move to lower-carbon alternatives” while at the same time “grow[ing] an economy that’s stronger, cleaner, more diverse and more resilient.”

 

, , , , ,

B.C. considers benefit corporations

British Columbia may become the first province in Canada to pass legislation that provides for the creation of “benefit corporations.” Benefit corporations are different from the typical for-profit business corporation in that they must be mandated to conduct business for the purpose of creating a general public benefit. It will be interesting to see where the benefit company model will go in B.C. The benefit company is somewhat similar to the existing B.C. C3, which is a hybrid corporate structure featuring both for-profit and a non-profit components.

 

, , ,

Is it a management or board failure when no action is taken on audit findings?

How effective are your organization’s internal audit reports? An effective internal audit report and proper communication on the part if IAs can promote appropriate action on the part of management and the board.

 

, , , ,

Government of Canada announces significant expansion of Integrity Regime for federal contracting

Recently, the Government of Canada announced that it has completed its extensive consultation process that took place over the past year, and it has decided to implement new changes to the Integrity Regime.

 

, , ,

Deferred no more: Deferred prosecution agreements finally on their way to Canada

The announcement of the proposed Remediation Agreement Regime is a long awaited step towards a more flexible and responsive criminal justice regime for organizations accused of criminal misconduct, and puts Canada on an equal playing field with jurisdictions around the world.

 

, , ,

Are you managing risk or are you managing the organization?

Stop managing risk – manage the business. Stop talking about accepting or managing risk and start talking about taking the right risks through informed and intelligent decisions.

 

, , , , ,

Collective agreement, not software, drives employee entitlements

Organizations must carefully and proactively determine user requirements and document them with great specificity when designing or evaluating software options to manage payroll and benefits within their companies.

 

, , , , , , , , , , , , , , , , ,

European Union proposes whistleblower protections

A recent EU proposal is only the latest in a string of legislative developments in jurisdictions around the world aimed at strengthening whistleblower protections and encouraging whistleblowers to come forward and report wrongdoing.

 

, , , , ,

The essential competencies of an effective risk officer

I recently sparred gently with a good friend, a respected and influential risk practitioner and thought leader, about the key competencies necessary for a risk officer to be effective. He listed several competencies for effectiveness, saying that “without these competencies risk managers are useless to the business”.

 

, , , , , ,

New International Mobility Program options under Canada-EU Comprehensive Economic and Trade Agreement

The Comprehensive Economic and Trade Agreement (“CETA”) is a new agreement between Canada and the European Union (“EU”), which is now in force. Chapter 10 of CETA removes the requirement for a Labour Market Impact Assessment for three categories of EU foreign nationals entering Canada for business purposes.

 

, , , , , , , , , , , , , , , , , ,

Working together works: Ontario Securities Commission approves reduced sanction for insider tipper who cooperated with investigation

The OSC recently approved a settlement agreement in which the respondent admitted to providing material non-public information to a third party. The order in Re Hutchinson, which did not include an administrative penalty or disgorgement of profits, was held to be in the public interest given the respondent’s cooperation and other mitigating factors.

 

, , , , , , , , , , , , , ,

The board and enterprise culture

This article looks at the Board’s involvement in managing enterprise culture. In the corporate context, culture is a system of values, beliefs and behaviors that shape how things get done within the organization.

 

, , , , , , ,

Previous Posts