Board Governance

Business people reviewing financial statements
Changes to non-profit legislation in Saskatchewan
The Non-profit Corporations Act, 1995 has been in place for many years. In 2022, the legislation was updated to modernize the Act and reflect the current operating environment. The Non-profit Corporations Act, 2022 was enacted in May 2022 with a wide variety of changes. We recommend that organizations  review the new Act to determine whether...
Tax Court of Canada building
TCC reminds corporate directors to actively consider tax
(authored by RSM CANADA) The Tax Court of Canada released a decision on director liability for unpaid GST and payroll taxes of a corporation.
ESG explained: What companies need to know
(authored by RSM CANADA) Environmental, social, and governance is now a key success factor for many companies. Learn more about ESG's potential issues, risks, and opportunities.
Increasing a nonprofit’s impact through operational efficiency
(authored by RSM CANADA) Nonprofit organizations often have lean operational budgets. They want to put as much of their resources as possible into fulfilling important missions. But a nonprofit that struggles with its operations will soon find itself with limited mission impact as well.
Electronic Financial Records - maintaining data integrity
Electronic Financial Records: Maintaining data integrity
NOTE: This article was written for and first appeared in the December 2021 issue of The Advocate, produced by the Saskatchewan Trial Lawyers Association Maintenance of electronic financial records is not a new concept, but the last two years have pushed many companies and organizations to convert paper driven processes to an electronic format. Regardless...
Board Governance: What processes do we need to manage our employees?
Not-for-profit organizations operate in a variety of business models. Smaller organizations may have only one employee, a few employees or even no employees! Regardless of the number of employees, an organization should have human resource processes in place to support the organization’s compliance with reporting and legal requirements, and to ensure that activities are consistently...
Board Governance: What are the best practices around volunteer management?
Volunteers are passionate about the causes they support. The donation of time allows organizations, usually with limited financial resources, to increase its impact on the community. Volunteers represent your organization, and thus, it is prudent for the organization to develop policies and standard practices to manage volunteer activities. Some things to think about if you...
Board Governance: How do we set key performance indicators?
Organizations invest significant time and effort in setting its vision and mission, and preparing a strategic plan to achieve that mission. Key performance indicators (KPIs) are an excellent way to measure and monitor how the organization is performing. Tips to establishing KPIs for your organization The measures chosen should relate to financial performance, core activities,...
Board Governance: What is your role in fraud prevention?
Fraud is the act of deceiving someone or misrepresenting information to obtain personal or financial gain. Fraud occurs in organizations of all sizes, types and purposes, and when it occurs, it can have significant consequences, such as the loss of money or assets, a damaged reputation or uncertainty about future operations. The Board of Directors...
Board Governance: Why is effective budgeting important?
Organizations achieve its mission through executing a strategic plan. However, strategic plans tend to look forward three to five years, which can make it difficult to determine what activities should be undertaken today. A budget is used to break down the organization’s planned activities into smaller, more manageable pieces. Budgets are a “best guess” plan...