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audit

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TSB recommends vessel operators’ safety management systems be audited by external parties

September 15, 2017 by Canadian Underwriter

Vessel operators’ safety management systems should include standard operating procedures for low visibility conditions, the Transportation Safety Board of Canada said in an investigation report released Thursday. On June 29, 2016, a Halifax-based sightseeing vessel with 39 people on board

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MacEwan University in Edmonton victim of $11.8 million phishing attack

September 1, 2017 by Canadian Underwriter

MacEwan University has reported it was the victim of a phishing attack in August that resulted in the transfer of $11.8 million to the alleged perpetrator. MacEwan University said in a statement on Thursday that it discovered the fraud on

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Canadian and U.S. government agencies underperform on fraud detection and reporting, study finds

June 14, 2017 by Canadian Underwriter

Government agencies in Canada and the United States performed significantly worse than the business sector on fraud detection and mitigation, according to a new survey from risk management software provider ACL. The 2017 Fraud Survey involved a poll of more

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Canadian insurance industry needs clear direction and proper framework to address marijuana legalization, industry event hears

June 2, 2017 Jason Contant, Online Editor

The insurance industry in Canada needs clear direction from governments and a proper framework to address the upcoming legalization of marijuana, attendees to an industry event heard on Thursday. “First and foremost, we do not as an industry, and cannot,

News InsuranceTechnology

Internal audit departments starting to embrace data analytics, but full potential unrealized: Protiviti survey

March 22, 2017 by Canadian Underwriter

Internal audit departments are starting to embrace data analytics, but many have far to go to achieve their full potential, according to a survey from global consulting firm Protiviti. The Embracing Analytics in Auditing report, released on Monday, involved the

News CatastrophesClimate ChangeInsuranceReinsuranceTechnology

Reinsurers face challenging market conditions, technology to play important role: Novarica

January 31, 2017 by Canadian Underwriter

Reinsurers can expect huge losses from man-made and natural catastrophes, open-ended liabilities like asbestos and terrorism, and developing creative technology solutions to become increasingly important in future, Novarica notes in a new report. The new challenges are in the wake

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Climate change forcing builders to rethink how they design structures: expert

June 27, 2016 Alexandra Posadzki - THE CANADIAN PRESS

TORONTO – Severe weather events like wildfires and floods are becoming more frequent and more difficult to predict, forcing architects and engineers to rethink how they design buildings, infrastructure and cities. Brock Schroeder, managing director of engineering firm Entuitive, says

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Panama Papers creating more scrutiny around offshore structures

June 24, 2016 by Angela Stelmakowich

The Panama Papers situation seems to be creating more scrutiny and less sympathy to offshore structures for tax purposes among regulators in Canada and this could spur greater disclosure demands, suggested Shea Small, a partner and international and business strategy

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Appeal continues in $84-million negligence lawsuit against corporate auditors

June 6, 2016 by Canadian Underwriter

A negligence lawsuit against the company that audited the financial statements of the entertainment firm formed in 1989 by Garth Drabinsky and Myron Gottlieb could reach the Supreme Court of Canada. In a decision released in 2014, the Ontario Superior