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Inside Internal Controls

News and discussion on implementing risk management

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Ways to maintain proper books and records

A recent Tax Court of Canada (“TCC”) decision, Promised Land Ministries v. The Queen[1], serves as a reminder to charities of the importance of maintaining proper books and records.

 

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TCC ruling on failure to maintain adequate books and records with foreign activity and suspension

This case of Promised Land Ministries v the Queen is vital reading for any Canadian charity conducting foreign activities because of its extensive discussion of books and records and foreign activities.

 

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Making sense of CRA’s new online Canadian charity application system

CRA in June 2019 brought in a new charity application system under their CHAMP modernization program. Here is our article Making sense of CRAs new online Canadian charity application system.

 

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CRA announces upcoming changes to the T3010 and T2050, removing political activities

On March 15, 2019, CRA announced that there will be changes to the T3010 Annual Return and the T2050 Application to Register a Charity to account for the recent changes to the political activities rules for Canadian registered charities.

 

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Objects of registered charities in Canada are sometimes not charitable

Objects are very important and often Canadian charities don’t understand that even though they are a registered charity their objects may not actually be charitable.

 

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Account changes for registered charities under CHAMP

Canadian charities now have more options for doing certain transactions online using the CHAMP system. Charities should look into accessing their CHAMP account.

 

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An ounce of prevention

As lawyers, we are often contacted when a dispute arises amongst members of an association. Inevitably, the dispute will devolve into a review of the legality of the actions of one or both sides

 

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GAAP closes gaps in interpreting financial information

Generally accepted accounting principles (GAAP) closes gaps in interpreting financial information, by providing rules for the financial reporting road.

 

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Dramatic changes to the CRA Charities Listing

CRA has recently updated its Charities Listing and the most notable change is the fact that they have reduced the amount of information available on each Canadian registered charity.

 

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Jurisdictional expansion of BC’s Civil Resolution Tribunal to societies: A new avenue of dispute resolution

Effective July 15, 2019, a variety of society disputes (defined as “society claims” under the relevant legislation) may be resolved by the B.C. Civil Resolution Tribunal (“CRT”) instead of the B.C. Supreme Court.

 

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Top Canadian charity law issues by Mark Blumberg

Here is our list of the Top Canadian Charity Law Issues by Mark Blumberg. Hopefully, it provides a good overview of the most common charity law compliance issues for Canadian registered charities with an emphasis on concerns from the Charities Directorate of CRA.

 

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Not-for-profit boards need a succession plan for their CEOs/EDs

Notwithstanding the vast differences between for-profit and not-for-profit entities, both need succession plans to quickly and effectively replace CEOs/EDs, whether the departure is planned or abrupt.

 

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The charities and the Canada Elections Act amendments series

Two major changes to the field of political participation received royal assent on December 13th, 2018: changes to the charities’ political activities rules in the Income Tax Act, and changes to the Canada Elections Act.

 

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The ISACA has traded in COBIT 5 for COBIT 2019 (Part 3 of 3)

The ISACA has traded in the 7-year old COBIT 5 for COBIT 2019. This is the last of a 3-part series examining this change. Read part 1 here and part 2 here.

 

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