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Inside Internal Controls

News and discussion on implementing risk management

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Duty of loyalty

Ontario Superior Court comments on director and officer duties

A recent decision of the Ontario Superior Court of Justice addresses directors’ duties towards the corporation and its employees. Specifically, the court addressed whether a director or officer’s fiduciary duties extend to protecting an employee from the consequences of that employee’s own fraudulent acts.

 

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Slaw: The state of whistleblowing in Canada

Whistleblowing occurs when employees reveal corporate wrongdoing, usually in their organization, to law enforcement. Unfortunately, it is common for whistleblowers to experience demotion, dismissal and otherwise negative treatment from their employers after they disclose the malfeasance or corruption. In order to deal with this serious issue, some companies have created codes of ethics to ensure that their directors, officers and employees are aware of and adhere to standards of conduct that ensure the company performs and is represented in an honest and responsible manner.

 

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