First Reference company logo

Inside Internal Controls

News and discussion on implementing risk management

machine cogs image

ontario

Small change large consequences: Ontario’s regulatory change to the payment of directors

Directors simply cannot benefit from the property of a charity whether registered or not, either directly or indirectly. This article explains why and details recent amendments to Ontario’s rules to allow charities to pay directors for goods and services rendered.

 

, , , , , , , , , , , , , , , ,

Canada loses points in annual corruption ranking

Transparency International’s 2013 Corruption Perceptions Index shows significant improvement among some poor performers and some movement at the top, as well. In particular, Canada’s score fell three points in 2013, to 81 (out of 100). The Corruption Perceptions Index measures how various stakeholders perceive corruption in the public sectors of the subject countries, based on reviews of government accountability, access to information, conflicts of interest and abuse of office, and integrity rules and anti-corruption laws.

 

, , , , , , , , , , , , , , , , , ,

The control of the personal data ecosystem belongs to the individual

A recent release from the Information and Privacy Commissioner of Ontario on the Personal Data Ecosystem praises organizations taking initiatives to integrate the socio-economic benefits of personal information while maintaining privacy and confidentiality. The Commissioner, Dr. Cavoukian, also co-authored a paper with researchers from the United States and the United Kingdom that delineates the systems […]

 

, , , , , , , , , , , , , , , ,

IFRS transitioners take note!

The Ontario Securities Commission has reviewed many Ontario issuers’ International Financial Reporting Standards financial reports and found them lacking in key respects. Based on first quarter 2011 IFRS filings, the OSC found three main deficiencies…

 

, , , , , , , , , , , , ,

New rules arriving soon for non-profits in federal jurisdiction, Ontario

You not-for-profit organizations and charities out there probably remember that, in the not-too-distant past, the federal and Ontario governments enacted new laws governing the activities of NFPs. Well, some expect these laws to come into force within the next six months. That’s sooner than you probably think.

 

, , , , ,

Ontario government releases plan to help not-for-profit organizations

Over eight months in 2010, the Ontario government consulted with not-for-profit organizations and their representatives on ways that the government could better support the NFP sector. “Participants advised on legislation, policies, structural issues and funding mechanisms. They also contributed ideas on how to better coordinate policy, research and communication with and for the sector.”

 

, , , , , , , , , , , , , , ,

Ontario Not-for-Profit Corporations Act

Ontario’s legislature wasted no time following the passage of the Canada Not-for-profit Corporations Act to enact its own Act to revise the law in respect of not-for-profit corporations (Bill 65). The Bill received royal assent on October 25, but the government hasn’t set a date for it to come into force yet.

 

, , , , , , , , , , , , , , ,

Moving forward on the HST

We last discussed British Columbia’s and Ontario’s transition to harmonized sales taxes in March, and now they’re here. In fact, as you well know, they’ve been here for more than two months, and not everyone is happy about it. British Columbians in particular are angry, and have called for a referendum on the issue, which will take place next September. Ontarians have once again shown their stoic side as the government tells them what’s best. While many have complained, no one has made a significant attempt to repeal the tax.

 

, , , , , , , , , ,

Provincial fund to help not-for-profit organizations with infrastructure costs

If you work in the not-for-profit sector, chances are that your organization performs some sort of community service, quite possibly helping disadvantaged persons or designated groups, such as visible minorities, Aboriginals, persons with disabilities or addictions, or women. For this reason alone, not-for-profit organizations are essential to the well-being of our communities and cities. But you already knew that.

 

, , , , , , , , , , , , , , ,

Ontario introduces not-for-profit corporations act

In late May, Ontario Bill 65, the not-for-profit corporations act, received second reading in the provincial legislature. This is the culmination of several years of consultation with the not-for-profit sector.

 

, , , , , , , ,

Not-for-Profit: The perils of bad governance

When a board of directors, senior staff, volunteers and members of a not-for-profit are marching to the same beat, an organization can do great things and win the admiration of the community at large. But when they fall out of step—for example, when the board loses control of the executive director, or the organization squanders the respect of its members or volunteers—things can go very wrong, very fast.

 

, , , , , ,

Environmental responsibility: Is extended product responsibility inevitable?

On Earth Day, Ontario’s Environment Minister delivered a speech in which he stated his government’s intention to shift the entire cost of the provincial household Blue Box recycling program onto the backs of the companies that produce the recyclables (they currently pay 50 percent).

 

, , , , , , , , , , , , , ,

RST vendor compensation tax tip

This morning, the First Reference accountant brought me an item that she thinks will be of interest to Ontario businesses: an Ontario Ministry of Revenue tax tip dealing with the transitional rules for retail sales tax vendor compensation.

 

, , , ,

Not-for-Profit: Ontario announces plan for partnership with NPOs

On April 22, the government of Ontario announced that it will develop a long-term plan for its partnership with the not-for-profit sector in collaboration with the Ontario Trillium Foundation.

 

, , , ,

When did privacy become such a huge issue?

I guess you’ve heard about some of the privacy breaches of the past few years. You know, the one where a major Canadian bank faxed personal information on thousands of customers to two random businesses in West Virginia and Quebec, or where the public officials left work laptops or memory keys unattended with unencrypted private data on citizens and they were stolen, and on and on. What’s happening? Why are these accidents popping up so frequently now?

 

, , ,

Previous Posts