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Inside Internal Controls

News and discussion on implementing risk management

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Karen Cooper

Changes in Ontario to director remuneration

The new provisions of Ontario Regulation 112/18 that amends O. Reg. 4/01 (Approved Acts of Executors and Trustees) under the Charities Accounting Act modify the existing Ontario common law rule that prohibited a charity from making payments to a director (or any person related to him/her) for any reason (other than reimbursement of expenses) without first obtaining a court order.

 

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