Corporate Governance Researches

Traditionally, the methodology for managing risk and compliance has been manual, paper-based procedures and checklists, with manually-derived reports. These methods worked well when the number of risks, compliance obligations and people involved were minimal. However, as the complexity of the risk and regulatory environment has increased, these processes are proving inadequate. Timeliness and reporting quality are also becoming critical. Effective corporate governance requires an approach that focuses on the progressive improvement of an organization’s compliance framework and performance – not just document management or ‘tick and flick’ reporting to regulators. The right information is required at the right time to identify improvements and new approaches. That’s where Canadian Business Academy comes in.

Risk Management.

The workflow engine assists users to demystify risk management by taking them step by step through the process. Key functionality includes:

The use of risk category trees to simplify the task of identifying risks and creating a common risk language within your organization.

Linking each risk to its individually specified controls and treatments.

Sophisticated reporting allowing managers to easily drill down to identify key risks and individual risk treatment and control plans.


What were previously tiresome and sometimes complex compliance tasks become just part of your day-to-day workflow as Canadian Business Academy assigns, monitors, measures and reports on compliance obligations, whether they are driven by legal and regulatory obligations or organizational policies and procedures. Key functionality includes:

Capturing key compliance obligations.

Linking obligations to governing acts or regulations.

Simplifying obligations through the use of a category tree structure that separates key legal & regulatory, organizational and contractual obligations.

Assigning responsibility for compliance tasks to individuals, including frequency of monitoring.

Automated email notification of the task delivered in simple plain English emails to the responsible person, specifying a deadline for confirmation of performance of that obligation.

Assigning stakeholders and escalation points for tasks.

Monitoring the performance of those obligations, and escalating responsibility where non-compliance or trigger dates are reached.

Providing tools to enable line and compliance managers to monitor performance.

Reporting on task performance and breaches in real time.

Providing transparency to management including a complete range of tailored reports.

Providing a complete audit trail of all tasks performed inclusive of editing, performance and all instructions relevant to the task.

Clients can either upload their own compliance checklists or utilize content that has been developed by our legal and industry experts in areas such as:

Company secretarial tasks (including statutory reporting)

Occupational Health & Safety

Financial Services Law & ASIC Regulation (including Managed Investment Schemes)

ASX Listing Rules & Corporate Governance Guidelines

Franchise Code of Conduct

Incident Manager.

How does your business currently deal with a customer complaint, a workplace injury or any other incident that occurs within your workplace? Incident Manager can assist you to better handle these situations by utilizing a simple template-driven approach which allows you to define custom templates for the types of incidents that are relevant to your business. Using Incident Manger, you are able to create custom rules for the procedures and authorization steps that need to be followed.

Incident Manager enables you to:

Create an incident template that defines the structure and layout for each type of incident including date, time and currency fields;

Record, classify and assign responsibility for management of an incident;

Nominate a party to “screen” and approve an incident;

Create discussion threads or forums with CC’d parties or stakeholders;

Add an “authorization” or sign-off process prior to closing or resolving the incident;

Capture, monitor and report on action plans to ensure follow through;

Create powerful flexible alerts and escalations, based on your rules;

Perform powerful on-demand reporting and identify recurring incidents within your organization; and

Link incidents to your risks and your compliance obligation.

The next time an incident occurs within your business, you’ll have the tools to manage the entire process from start to finish.

Financial Services.

ASIC & APRA Risk Management and Internal Control Requirements.

The introduction of the Financial Services Reform Act has changed the landscape within which financial services organizations now operate. A key feature of these new regimes is the requirement that all financial services entities establish a sound system of risk management and internal control. The depth of these requirements has been explained in various ASIC and APRA publications . as relevant benchmarks. To add to the challenge, financial services companies are now also required to maintain adequate human resources, technology resources and financial resources as well as closely monitor key outsource relationships and implement conflict of interest policies. Those dealing with retail clients are also required to implement internal and external complaints handling systems. The focus of these changes has been on documentation and practical implementation of policies and procedures. To date many financial services companies have gotten by with manual, paper based systems, however the sheer complexity of the regulatory environment, and the demands of managing effective risk and internal control programs have now made this approach largely untenable. Simply put, it is now both a legal and a commercial imperative for financial services organizations to establish internal risk and compliance programs that work effectively and Canadian Business Academy provides the perfect solution.

General Law Obligations

As an executive of a financial services company not only do you have to deal with a volume of specific laws and regulations relating to the financial services industry, you also have to deal with a vast body of general legislation, Occupational health & safety, workers compensation, privacy, industrial relations, and consumer protection laws are just a few of the areas that are likely to impact on your business on a day-to-day basis.

We recognize that many financial services companies are small-to-medium-sized enterprises that are focused on their core product or service offering and often have limited resources available to dedicate to:

tracking their legal obligations

translating them into documented policies, and then

effectively communicating these policies to their employees.

It is, in fact, the small and medium sized enterprises that bear the brunt of costs associated with non-compliance. Fines, penalties and legal fees are just the beginning. The real costs of non-compliance are often hidden and include management downtime, business disruption, reputational damage, loss of key staff and increased insurance premiums. As a financial services company the pain is often multiplied by the fact that you are “under the regulator’s spot light”. Compliance breaches can become public with resulting reputational damage having the potential to negatively impact on your business.