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Inside Internal Controls

News and discussion on implementing risk management

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Privacy practices for developing mobile applications (apps)

mobile-apps

Privacy practices, and all things mobile, are both hot topics these days. This is in part because mobile devices and apps are fun, cool, provide value, and are on the rise. They are used by professionals of all types, and people of most any age, including our youth. This however feeds the assumption that technology in general, including mobile devices and apps, is threatening the privacy rights of individuals.

 

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Risk-based pension regulation: fancy name, but what does it mean?

The Financial Services Commission of Ontario (FSCO) is proposing a risk-based system of regulating pension plans. Essentially, this means improving risk assessment and monitoring, following five principles…

 

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Can customers be encouraged to read privacy policies?

When was the last time you read a privacy policy? I use dozens of online services—email, social networking, data storage, banking, photos, shopping, etc.—and I’ve only skimmed a couple. What does this mean for the companies that offer these services? Can they reasonably say that they have informed their users of the content of their policies, if most users simply click “Okay” without bothering to read the things?

 

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Canadian charity law checklist features compliance issues

Charity and non-profit lawyer Mark Blumberg offers a compliance checklist for Canadian charities via the GlobalPhilanthropy.ca charity assistance project.

 

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Do you report your EFTs to FINTRAC?

Chances are you’re no stranger to electronic funds transfers. Broadly speaking, an EFT can mean any type of standard non-paper payment, including debit and credit card payments, email or wire money transfers (both domestic and international) and direct payroll deposits. Most organizations handle at least some of these transactions every day. The key question for businesses is: How do you keep track of these electronic transfers and, if necessary, register them with the Financial Transactions and Reports Analysis Centre of Canada?

 

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Accountants call for national entrepreneurship strategy

Canadians are pretty good at creating businesses that last, according to a new study by the Chartered General Accountants’ Association of Canada. Around 85 percent of new Canadian businesses survive for a year, 62 percent make it at least three years and 51 percent are still going after five years. The Business Development Bank of Canada puts this last number above 66 percent.

 

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Change to policy on cryptographic item export permits

Do you deal in the export or transfer of information security goods, software and technology to countries other than the United States? If you do, you should know that the Export Controls Division of Foreign Affairs and International Trade Canada has released new guidelines on its policy for issuing permits for these activities.

 

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A few words about tax risk

I have the privilege of offering our readers information on a diverse range of important topics that few people really want to talk about, like tax risk.

 

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Another look at governance disclosure

Despite the rosy picture the CSA paints, I’m not surprised that many organizations are falling short of their governance disclosure obligations. With respect to National Instrument 58-101 – Disclosure of Corporate Governance Practices, the CSA found “unacceptable” shortcomings in 55 percent of reviewed organizations’ disclosures, compared to 36 percent in 2007. In this instance, reporting is getting much worse, not better.

 

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