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Inside Internal Controls

News and discussion on implementing risk management

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Cyber threats

Federal budget allocates significant funds towards cybersecurity

The Budget’s proposed investment in the area of cyber security is the largest single investment made in this area by the Canadian federal government. It also sends a strong signal that the government is focused on cyber threats that pose a real risk to the Canadian economy and national security.


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Public Safety Canada calls for submissions on new national cybersecurity strategy

On August 16, 2016, Public Safety Canada (“PSC”) issued a consultation paper, launching a public consultation as part of PSC’s development of an updated national cybersecurity strategy. The consultation will close on October 15, 2016. Businesses may want to consider making submissions in respect of some key questions posed around possible regulation or standard-setting regarding Internet of Things and connected devices, certification for E-commerce activities, and information sharing (especially in respect of critical infrastructure).


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Lessons from the Saanich spyware fiasco and new privacy laws to be aware of

In our current information age, security over electronic information and protection against unauthorized access is foundational to employers’ businesses. To guard against endlessly multiplying electronic threats, employers must resort to electronic means and, understandably, often resort to broad and comprehensive software to protect their operations. However, the situation involving the District of Saanich earlier this year is a good reminder to all B.C. employers that cyber-protection cannot be used at the expense of employees’ privacy.


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Do you have or need cyber risks insurance in case of a cyber attack?

A growing number of companies are investing in cyber risks insurance, which offers a degree of protection against the consequences of cyberattacks such as hacking, business disruptions and digital data breaches. Organizations are increasingly buying insurance to protect against losses from computer breaches.


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Implementing electronic payments with an eye towards risk management

As we edge closer and closer to 2013, we’re seeing more people with mobile devices in their pockets. How many people do you know with an iPhone or Android device? The influx of additional devices such as tablets and ultra-thin laptop computers means that more people are online in more places, more often than ever before. This vastly changes the way businesses can choose to sell their products. Enter the implementation of electronic payments.


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