First Reference company logo

Inside Internal Controls

News and discussion on implementing risk management

machine cogs image

Corporate Governance

Sports and recreation: Risk mitigation and occupiers’ liability

In Ontario, the occupiers’ duties towards people who access their premises is governed by the Occupiers’ Liability Act (“OLA”). The OLA defines an “occupier” as:

 

, ,

Time (again and still) for the IIA Standards to be correct

Internal audit can assist management by facilitating a fraud risk assessment. Management should make the decision both on the level of risk and whether it is acceptable. Internal audit can provide their opinion and advice on both.

 

, , , , , , , , ,

Effective monitoring of internal controls is critical

If the most serious internal control violation is a failure to implement internal controls in the first place, the failure to monitor existing internal controls is a close contender. Identify where in the organization effective monitoring occurs and leverage those successes.

 

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

The corporate identification doctrine clarified through an intervention in the Supreme Court of Canada

A corporation is of course an abstract entity. It is a legal person, but can only act through human beings. Certain causes of action, such as fraud or knowing assistance of a breach of trust, have a knowledge requirement: the defendant can only be held liable if he or she – or it, in the case of a corporation – has knowledge of certain facts. How can a corporation be held liable for having certain knowledge if it has no brain to possess that knowledge?

 

, , , , ,

The Financial Services Regulatory Authority of Ontario

Effective June 8, 2019, the Ontario government launched the Financial Services Regulatory Authority of Ontario (FSRA), which is a new independent and self-funded regulator of financial services and pensions that is intended to help reduce regulatory burden, among other things.

 

, , , ,

Update on the promotion of cannabis on social media

Almost six months after our first article on the Promotion of Cannabis on Social Media was originally published, federal licence holders have now received further guidance from Health Canada regarding the regulatory prohibitions on the promotion of cannabis, cannabis accessories, and cannabis-related services in an online context.

 

, , , , ,

New reports on the cost and incidence of cyber breaches

A cyber breach can affect an organization in many ways, from trivial to devastating. There is a range of potential effects, each with its own likelihood.

 

, , , , , , ,

Canadian government announces new Digital Charter

On May 21, 2019, the Honourable Navdeep Bains, Minister of Innovation, Science and Economic Development, announced the introduction of Canada’s new Digital Charter. This blog post summarizes the highlights of Minister Bains’ announcement and the principles of the Digital Charter.

 

, , , , , , ,

Interjurisdictional road carriers – Registration under the Greenhouse Gas Pollution Pricing Act

On April 1, 2019, the Greenhouse Gas Pollution Pricing Act came into force in Manitoba, New Brunswick, Ontario and Saskatchewan, and it will come into force on July 1, 2019 for each of Nunavut and the Yukon.

 

, , , , ,

Do your expectations align with reality — Why compliance training needs more attention

For many years, organizations paid minimal attention to ethics and compliance training. Training was done by someone who had another important job to do on the ethics and compliance team. It was seen as a check-the-box exercise, and employees felt the brunt of that approach.

 

, , ,

The Quebec Court of Appeal renders a landmark decision regarding prescription drug manufacturers’ duty to warn

In a judgment rendered on May 8, 2019, the Quebec Court of Appeal[1] upheld a Superior Court decision[2] dismissing a class action in which the plaintiffs alleged that a manufacturer failed to provide sufficient information as to the risks of a prescription drug. This was the first time that the Court of Appeal considered the merits of a class action regarding a drug manufacturer’s duty to warn.

 

, , ,

Competition Bureau releases 2019 Intellectual Property Enforcement Guidelines

As an independent federal law enforcement agency, the Competition Bureau (the “Bureau”) seeks to ensure that Canadian business and consumers prosper in a competitive and innovative marketplace. Keeping with its mandate, the Bureau released its updated Intellectual Property Enforcement Guidelines (“IPEGs”) on March 13, 2019.

 

, , , , ,

A board that would fail any test of its governance practices

I am planning a meeting with the CRO from a company during which I had planned to share some of the principles of effective risk management, based on what is considered world-class, and the governance of risk management by the board.

 

, , , , , , ,

Countdown to Canada’s new Trademarks Act: Take action

With the June 17 “coming into force” date of the new Canadian Trademarks Act fast approaching, there are opportunities you can be taking advantage of NOW. Here, we highlight some practical tips and considerations to help you maximize the opportunities and prepare for the new realities.

 

, , ,

Previous Posts