November 2006

Current Print Edition

November 2008

	Features
	Internal controls - the value of a wider business-led approach Various new laws, regulations and listing standards have been enacted over the past few years in response to a series of large corporate scandals. Although these new rules have added to controls that already existed, they’ve overshadowed the valuable and wider-reaching effectiveness of internal control frameworks such as the COSO, Turnbull and CoCo frameworks. A new publication by IFAC, excerpted here, redresses the balance.

	Organizational risk reporting for internal and external decision making Management and audit reports on internal control don’t provide any assurance on the viability of a business or its ability to achieve financial goals. Consequently, the needs of many internal and external reporting audiences aren’t met — they need more information on the risks organizations face and how they intend to manage them. There hasn’t been an integrated framework for such reporting — until now. A new CMA Canada — AICPA guideline aims to fill the gap. By Marc Epstein and Adriana Rejc Buhovac

	Are your perfomance measurement systems truly performing? Performance measurement systems that are well-designed, integrated in organizational practices through various uses, and periodically reviewed can contribute to the improvement of organizational performance. Implementing systems is only the first step — having them reach their full potential is the real challenge. By Jean-François Henri, CMA

	November 2006
	Scorecarding: success or failure? It’s your call The results of an international scorecarding survey reveal the top challenges that a variety of companies have had, and the top tips for keeping your scorecarding initiative on track. By Raef Lawson, William Stratton and Toby Hatch

	Strategic Knowledge in a new reporting era Strategic knowledge in a new reporting era First Nations in Canada have become much more complex communities as they take on new growth initiatives and responsibilities. Richard Morano, CMA, has helped one First Nation navigate the strategic challenges of robust development By Robert Colman

Columns
Human resources Know your risks. A crucial part of a Board’s risk management strategy must be assessment and evaluation of its directors’ and officers’ personal liability. By Paul Reynolds

Business strategies Selling Green. Should companies use environmental stewardship as a marketing tool? Although the idea sounds great, “green” can’t be the only consideration. By Anne Papmehl

Book review Integrating effective tools. Management tools such as activity-based costing and the balanced scorecard work well in isolation, but bringing these tools together offer even more benefits to cutting-edge organizations. A new collection of case studies explains how. Reviewed by Robert Colman

	Information technology The rise of the converged network. Convergence allows voice, video, and data to be carried on a single network. The most common example today is the use of voice over Internet Protocol (VoIP) to place long distance calls over the Internet. However, organizations of all sizes are finding that there’s a lot more to convergence than reducing phone bills. By Jacob Stoller

	Government issues Closing the productivity gap. Innovation must be embraced if Canada hopes to compete with the U.S. An overhaul of the tax treatment of R&D is overdue. By John Banigan

	Global view Organization of American States builds links in Western Hemisphere. Canada plays a lead role in the world’s oldest regional organization, but using that for effective change in trade practices remains a challenge. By John Cooper

	Departments
	News and views New and noteworthy information you can use IFAC makes key leadership appointments IFRS: consistency, comparability remain a challenge Sustainability and accountants in business: new IFAC papers Forest, paper industry sees need for improved efficiencies Emissions still on the back burner Venture capital in Europe on the rise High tech: Rugged and ready New software