First Reference company logo

Inside Internal Controls

News and discussion on implementing risk management

machine cogs image

Not for Profit

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

The ISACA has traded in the 7-year old COBIT 5 for COBIT 2019. This is the last of a 3-part series examining this change. Read part 1 here and part 2 here.

 

, , , , , , , ,

“Social impact bonds” on the rise in Canada

Social Impact Bonds (SIBs) are an interesting part of the larger trend of ‘impact investing’ that has been rising in Canada and around the world in recent years.

 

, , , ,

The ISACA has traded in COBIT 5 for COBIT 2019 (part 2 of 3)

The ISACA has traded in the 7-year-old COBIT 5 for COBIT 2019. This is the second of a 3-part series exploring COBIT 2019.

 

, , , , , , , ,

Canadian Federal Budget 2019 and its impact on non-profits and charities

Finance Minister Morneau delivered the 2019 Federal Budget on March 19, 2019. Here is our article.

 

, ,

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.

 

, , , , , , , ,

Changes in Ontario to director remuneration

The new provisions of Ontario Regulation 112/18 that amends O. Reg. 4/01 (Approved Acts of Executors and Trustees) under the Charities Accounting Act modify the existing Ontario common law rule that prohibited a charity from making payments to a director (or any person related to him/her) for any reason (other than reimbursement of expenses) without first obtaining a court order.

 

, , ,

Cy-près distributions: Uses and controversies

Cy-près distributions disburse settlement funds or damages awards to charities or other public interest organizations in circumstances where it is impractical to distribute the funds to class members.

 

, , ,

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.

 

, , , , , , , , ,

It’s almost year end; avoid cut-off errors

Cut-off errors are common and it is important that you avoid them, particularly at year end when one fiscal year will be closed and finalized for the external audit or as a precursor to starting the new fiscal year.

 

, , , , , , , , ,

Why you should not be setting up an Ontario non-profit corporation under the OCA today

The Ontario government passed the Ontario Not-for-Profit Corporations Act (ONCA) in 2010. It was originally expected to come into force in 2013, but it has been delayed a number of times. In December 2017, the Ontario government announced that it was “working to bring ONCA into force as early as possible, with a target of early 2020.”

 

, , , , , ,

Learn from British Airways’ security breach reporting and notification

British Airways’ experience described in this article underscores that cybersecurity is important, and Canadian entities preparing for mandatory security breach reporting and notification coming into force soon can take lessons from British Airways’ response to a security breach.

 

, , , , , , , , , , ,

No good deed goes unpunished

Fundamentally, charities are actors in society as are any others. We all have a duty of care to some degree to our neighbors. Indeed, generally the closer the relationship the higher the standard of care one expects. Consequently, charities need to be aware that even in the pursuit of charitable activities, they could be liable if their activities do not take into account the safety and the potential damage of their actions to either their beneficiaries or to their patron donors.

 

, , , , , ,

Ontario court strikes down limits on non-partisan political advocacy by charities

An Ontario court decision rendered on July 16th may completely change the rules about political advocacy by Canadian charities. The decision struck down the law limiting a charity’s non-partisan political activities. This affects every Canadian charity hoping to get public support for policies relevant to its charitable purposes and activities.

 

, , , ,

Upcoming deadlines and changes for charities and other not-for-profits

Charities and not-for-profit organizations need to be aware of some upcoming changes to rules and laws.

 

, , , ,

Charity checklist: What to do if your charity is audited

The best defence against negative audit consequences is proactive compliance with the Income Tax Act. Charities should take care to familiarize themselves with the rules in the Act and ensure that they demonstrate compliance with these rules.

 

, , ,

Previous Posts