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Inside Internal Controls

News and discussion on implementing risk management

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fiscal year end

Does being an Ontario not-for-profit corporation mandate audited financial statements?

Given that many (although certainly not all) not-for-profit corporations (“NFPs”), both charitable and non-charitable, have a December year end and are preparing for their year end financial reporting, we thought it timely to provide a reminder about the financial disclosure requirements contained in their governing corporate legislation.

 

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It’s almost year-end. Do you know where your numbers are?

With unrelenting time pressures, accountants often delay activities which may seem to have no immediate or material consequences (but they might)…

 

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Paving the road to hell – donating the proceeds of private company shares and real estate

In its last annual budget, the Federal Government announced that proceeds from the sale of private company shares and real estate would be free from tax if donated to charity. That is pretty much all they said on the subject…

 

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