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Inside Internal Controls

News and discussion on implementing risk management

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bonuses

Employee forfeits $115,000.00 in bonuses by resigning; active employment clause valid

A bonus policy may state that employees who are eligible for bonuses must also be actively employed to receive their bonus payments. That is, employers may institute an “active employment clause”. Courts will uphold valid active employment clauses, as demonstrated by Bois v. MD Physician Services Inc., 2017 ONCA 857 (CanLII). MD Physician Services Inc. […]

 

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Generally accepted accounting principles for interim reporting

In many small and even medium-sized companies, financial reporting during the year does not include all of the adjustments made at the year-end (often in connection with the audit or review of the annual financial statements by an independent professional accountant).

 

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