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Inside Internal Controls

News and discussion on implementing risk management

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IT, Privacy and Security

Government of Canada publishes proposed Breach of Security Safeguards Regulations

On September 2, 2017, the Government of Canada published proposed Breach of Security Safeguards Regulations. The proposed regulations relate to the provisions in Canada’s Personal Information Protection and Electronic Documents Act (“PIPEDA”), which are not yet in force.

 

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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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Update from the Canadian Securities Administrators on its Regulatory Sandbox for Fintechs

The week of June 26, the Canadian Securities Administrators (CSA) published some additional information on its CSA Regulatory Sandbox. The CSA Regulatory Sandbox, which was first launched on February 23, 2017, is an initiative of the CSA, designed to support Fintech businesses seeking to offer innovative products, services and applications in Canada.

 

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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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NIST’s recommended password policy evolves

As imperfect a means of authentication as they are, “memorized secrets” like passwords, pass phrases and PINs are common, and indeed are the primary means of authentication for most computer systems. In June, the National Institute of Standards and Technology issued a new publication on digital identity management that, in part, recommends changes to password policy that has become standard in many organizations—policy requiring passwords with special characters.

 

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Federal court knocks TPM circumvention with significant damages award

In a major victory for Nintendo, the Federal Court of Canada awarded $12.7 million in damages for circumventing technological protection measures (TPMs) and copyright infringement.

 

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What does your risk management activity seek to achieve?

It is essential to understand what an organization needs and how critical the management of risk is before settling on a design, let alone trying to implement or upgrade risk management.

 

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Managing company communications with AI

Could AI have helped Google identify the ‘diversity memo’ sooner? This post looks at how AI could help other companies avoid these and many other complications around employee communication.

 

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Department of Finance releases consultation paper on new retail payments oversight framework

On July 7, 2017, the Department of Finance issued the consultation paper “A New Retail Payments Oversight Framework” (the “Consultation Paper”) proposing a federal oversight framework for retail payments. Comments on the Consultation Paper are due October 6, 2017.

 

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Court declines to apply fair dealing copyright exemption in news reporting case

In a recent decision, the Small Claims Division of the Court of Québec has found a newspaper liable for infringement of copyright and moral rights in photographs published without reference to the photographer.

 

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What do audit committees think about risk and audit?

I am encouraged by the latest KPMG report, their 2017 Global Audit Committee Pulse Survey. I am encouraged because KPMG appears to be asking the right questions and getting intelligent answers.

 

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Searches of electronic devices at the Canada/US border

The possibility of arbitrary searches of the electronic devices of persons crossing into the US continues to raise concerns among Canadians and, in particular, privacy regulators. Recent statements (and subsequent legislative amendments) are attempting to address some of the legal issues.

 

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The global reach of Canadian privacy law: Federal court issues landmark ruling in Globe24h

With the global reach of the internet and ease with which information may now be disseminated, this decision therefore may provide corporations and individuals with an effective avenue to pursue foreign-based entities and enforce their rights with respect to disputes involving illegal, defamatory or malicious online activity originating abroad.

 

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The future of risk management

The Institute of Risk Management has a great feature where they have asked people around the world, including a number of luminaries, about the future of risk management.

 

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