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Inside Internal Controls

News and discussion on implementing risk management

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Corporate Governance

The positive side of risk

So how should we talk about the good stuff if we reserve the word ‘risk’ for the bad?

 

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New 2019 Competition Act and Investment Canada Act merger review thresholds

Certain types of transactions that exceed prescribed thresholds require pre-merger notification under Canada’s Competition Act. Such transactions cannot be completed until notice has been given to the Commissioner of Competition and the statutory waiting period has expired or, alternatively, has been terminated early or waived by the Commissioner. One of these thresholds, the transaction-size threshold, is subject to an annual index adjustment.

 

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Ontario reveals the details about its performance standards for large industrial emitters

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On February 12th 2019, Ontario announced its proposed plan to reduce greenhouse gas (“GHG”) emissions, the Industrial Emissions Performance Standards Program.

 

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The ISACA has traded in COBIT 5 for COBIT 2019 (Part 1 of 3)

The ISACA has traded in the 7-year-old COBIT 5 for COBIT 2019. This 3-part article explains COBIT 2019, based on published ISACA guidance.

 

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Recent guilty plea demonstrates that criminal liability for corruption may extend to corporate officers

Corporate criminal liability in Canada was expanded in 2013 following the R. v. Pétroles Global decision, which established that the “directing minds” of the corporation may be seated in the persons of middle management for purposes of establishing criminal liability of the company.

 

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Redwater – SCC delivers the final word

On February 1, 2019, the Supreme Court of Canada (SCC) released its highly anticipated decision in the Orphan Well Association, et al. v. Grant Thornton Limited, et al, 2019 SCC 5 (Redwater).

 

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OSC seeks to reduce regulatory burden in step with Ontario Red Tape Initiative

The Ontario Securities Commission announced on January 14, 2019, that its Burden Reduction Task Force, in coordination with the Ministry of Finance, has undertaken to lessen regulatory burdens and enhance competitiveness for Ontario businesses.

 

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New Canadian temporary immigration options under the CPTPP

The purpose of the CPTPP is to facilitate market access, investment opportunities and trade amongst the parties. Of interest from an immigration standpoint, the CPTPP contains new temporary immigration options for citizens of member countries.

 

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Damage control: Two recent decisions show the benefits and pitfalls of proactive risk management in products claims

Two recent Ontario decisions shed light on the conflicting consequences of a manufacturer’s attempts at risk mitigation when their product is defective.

 

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Avoiding women at work is not a solution, it’s discrimination

#MeToo-inspired discrimination as described from Davos could lead to potential revenue loss – not to mention the toxic cultures created along the way that can affect overall productivity and performance.

 

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Implement effective governance practices in not-for-profits

There are increasing pressures on not-for-profit boards to implement effective governance practices. The growth in the sector and the increase in financial, cybersecurity, and other risk factors have fuelled pressures on not-for-profits to be more accountable to its members, donors and other stakeholders.

 

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Individual defendant receives three-year sentence for Canadian corruption conviction

On December 17th, 2018, Quebec’s Superior Court of Justice sentenced Yanaï Elbaz, a former senior manager of the McGill University Health Centre (MUHC), to a three-year prison term for his involvement in a bribery scheme in which SNC-Lavalin secured a $1.3 billion contract to build MUHC.

 

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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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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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Foreign patent holders (and lawyers/patent agents): Beware when writing to Canadians

A number of changes to Canada’s intellectual property legislation came into force on Dec. 13, 2018. One of the changes to Canada’s Patent Act is a new subsection relating to written demands.

 

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