http://www.mnp.ca/media-centre/blog/tags/businessBusiness Blog Post RSS FeedCopyright 2012MNP All rights reserved.Throughout the past few years, the credit crunch in the U.S. has continued to be the topic of many conversations. Living in Canada, I will often be asked what exactly the “credit crunch” is because Canada hasn’t been affected to the same extent as the U.S.http://www.mnp.ca/en/media-centre/blog/2009/4/30/surviving-the-economic-crisis/Thu, 30 Apr 2009 00:00:00 GMTFor years, there has been a cry for simplified financial reporting standards by the millions of private entities in Canada, their auditors and stakeholders. In 2002, the Accounting Standards Board (AcSB) approved the existing Differential Reporting model to address the concerns of private enterprises. http://www.mnp.ca/en/media-centre/blog/2009/6/22/private-enterprise-standards-the-call-has-been-answered/Mon, 22 Jun 2009 00:00:00 GMTA recent decision rendered by the Federal Court of Appeal (the “Court”) may impact the GST required to be collected, and that has been paid, on investment management fees.http://www.mnp.ca/en/media-centre/blog/2009/7/13/paying-gst-on-investment-management-fees/Mon, 13 Jul 2009 00:00:00 GMTHave you started your own business and are not sure about whether you should register for GST? You are able to voluntarily register for GST if you are carrying on a commercial activity. Either selling taxable goods or providing taxable services. http://www.mnp.ca/en/media-centre/blog/2009/8/31/when-to-register-for-gst/Mon, 31 Aug 2009 00:00:00 GMTDo you live in one of the PST provinces (B.C., Saskatchewan, Manitoba, Ontario, Quebec or PEI), do you need to register for PST?http://www.mnp.ca/en/media-centre/blog/2009/9/15/when-to-register-for-pst/Tue, 15 Sep 2009 00:00:00 GMTIf you have a small consulting business in Canada, you have probably heard something about personal services businesses (PSB) either from your accountant or in the local coffee shop. http://www.mnp.ca/en/media-centre/blog/2009/10/5/the-personal-services-business/Mon, 05 Oct 2009 00:00:00 GMTOntario received $4 billion and British Columbia received $1.6 billion in transfer payments from the federal government if they agreed to harmonize their PST’s with the GST. How will this affect your business?http://www.mnp.ca/en/media-centre/blog/2009/11/20/how-will-the-new-hst-affect-my-business-faq/Fri, 20 Nov 2009 00:00:00 GMTIt is not uncommon for business owners to say “just pay a management fee equal to the loss”. This sounds easy enough to do; just write a cheque and make a journal entry. All done. Unfortunately, this rarely is within the scope of the tax laws. http://www.mnp.ca/en/media-centre/blog/2009/11/30/management-fees-easier-said-than-done/Mon, 30 Nov 2009 00:00:00 GMTIf you haven’t planned your transition to IFRS - the time to start is now! In part I of this II part series of blogs, I will highlight some of the key things you need to consider for your transition to IFRS, all to help ease the transition and save your company time and money.http://www.mnp.ca/en/media-centre/blog/2009/12/16/so-your-company-is-adopting-international-financial-reporting-standards-ifrs-part-i/Wed, 16 Dec 2009 00:00:00 GMTIn part I of this blog series, I discussed the financial reporting impact of transitioning to IFRS for your company. In part II, I will discuss some additional impacts of converting your company’s financial statements to IFRS. http://www.mnp.ca/en/media-centre/blog/2009/12/18/so-your-company-is-adopting-international-financial-reporting-standards-ifrs-part-ii/Fri, 18 Dec 2009 00:00:00 GMTIn determining the fair market value of an interest in a company, not all classes of shares are created equal, nor are all sizes of shareholdings in that company.http://www.mnp.ca/en/media-centre/blog/2010/2/1/what-is-a-minority-discount/Mon, 01 Feb 2010 00:00:00 GMTThere are numerous benefits of including family members as owners in the business, and many of these benefits can be linked to income splitting opportunities.http://www.mnp.ca/en/media-centre/blog/2010/2/23/family-members-as-owners-of-the-family-business/Tue, 23 Feb 2010 00:00:00 GMTInformation on an extremely important component of the upcoming HST in BC and Ontario was recently released - The Place of Supply Rules. If you're asking "What rate do I charge?", the rules have changed!http://www.mnp.ca/en/media-centre/blog/2010/3/15/hst-the-place-of-supply-rules/Mon, 15 Mar 2010 00:00:00 GMTService organizations, whether in the public, private or non-profit sectors, want the customer experience to be great. Their long-term survival often depends on it!http://www.mnp.ca/en/media-centre/blog/2010/3/22/transforming-your-business-to-better-serve-your-clients/Mon, 22 Mar 2010 00:00:00 GMTBusiness performance is under pressure from the economy. Customers, far from sympathetic, continue to demand more for their investment in time or money. Simply running faster just isn’t enough.http://www.mnp.ca/en/media-centre/blog/2010/3/29/are-your-business-processes-working-for-you-or-against-you/Mon, 29 Mar 2010 00:00:00 GMTIn 2011 (or maybe earlier), many Canadian enterprises are going to be adopting IFRS. If your company or organization is adopting IFRS, you have most likely just begun your transition. You may want to consider some of the issues these areas identified when they transitioned to IFRS, and learn from them.http://www.mnp.ca/en/media-centre/blog/2010/3/31/the-transition-to-international-financial-reporting-standards-ifrs-lets-learn-from-others/Wed, 31 Mar 2010 00:00:00 GMTOur everyday activities are often so consuming that there is little time left to focus on the bigger picture. As a result, business planning and project management are often sacrificed in order to complete work, and get through the day, week or month.http://www.mnp.ca/en/media-centre/blog/2010/4/5/the-value-of-business-planning-and-project-management/Mon, 05 Apr 2010 00:00:00 GMTJuly 1 will be a very important day for Canadian businesses in 2010, as it is the first day of the Harmonized Sales Tax in B.C. and Ontario. Although the new taxation scheme will have a great impact on business owners in those two provinces, it also has repercussions for companies in other provinces, and the time to plan for them is running out.http://www.mnp.ca/en/media-centre/blog/2010/4/8/harmonized-sales-tax-hst-question-answer/Thu, 08 Apr 2010 00:00:00 GMTOur world has changed. We live and work amid new and emerging threats. As 2 out of 5 companies that experience a crisis do not survive, developing effective strategies to proactively identify and manage threats to your organization could be your best defense in an ever-changing world.http://www.mnp.ca/en/media-centre/blog/2010/4/12/managing-business-continuity/Mon, 12 Apr 2010 00:00:00 GMTIn an effort to reduce Nova Scotia’s deficit to a sustainable level, the province’s NDP Government will increase the harmonized sales tax (HST), effective July 1, 2010. http://www.mnp.ca/en/media-centre/blog/2010/4/21/canada-expected-to-see-five-new-hst-rates-by-july-1-2010/Wed, 21 Apr 2010 00:00:00 GMTThe first step in taking advantage of the Canada Revenue Agency’s (CRA’s) SR&ED tax credit incentives is to determine if you are performing qualified SR&ED work. But how do you know if you're doing qualified work? The first thing to figure out is whether or not you have performed a technological advancement. http://www.mnp.ca/en/media-centre/blog/2010/4/27/just-what-exactly-is-a-technological-advancement-in-the-sred-program/Tue, 27 Apr 2010 00:00:00 GMTWorkplace violence is becoming an ever increasing issue for organizations. It is conservatively estimated that 1 in 6 violent incidents in Canada occur in the workplace and Statistics Canada’s latest report on violence in the workplace shows approximately 356,000 incidents of violence occur in the workforce each year.http://www.mnp.ca/en/media-centre/blog/2010/5/17/bill-168-workplace-violence-part-1-protecting-your-people-and-your-business/Mon, 17 May 2010 00:00:00 GMTOrganizations may find themselves asking: “What are the consequences if I do not comply with Bill 168?” Non-compliance with Bill 168 will be subject to fines and penalties that currently exist with respect to the Occupational Health and Safety Act.http://www.mnp.ca/en/media-centre/blog/2010/5/31/bill-168-workplace-violence-part-2-making-your-organization-compliant/Mon, 31 May 2010 00:00:00 GMTCompliance to Bill 168 begins with a risk assessment. A risk assessment evaluates the risks of workplace violence that may arise from the nature of the workplace, the type of work or the conditions of work. A risk assessment begins with the identification of current risks.http://www.mnp.ca/en/media-centre/blog/2010/6/7/bill-168-workplace-violence-part-3-conducting-your-workplace-violence-risk-assessment/Mon, 07 Jun 2010 00:00:00 GMTFrom our last post we know that the first thing to figure out is whether or not you have performed a technological advancement. One of the key factors into determining whether or not an advance happened are what obstacles did you have to overcome, or rather what uncertainties did you have when attempting to achieve your technological advancement? http://www.mnp.ca/en/media-centre/blog/2010/6/9/just-what-exactly-is-a-technological-obstacle-in-the-sred-program/Wed, 09 Jun 2010 00:00:00 GMTTraining should be a strategic investment into one’s business and employees as it has a direct effect on the bottom line and productivity of a business. Often, an employee (or employees) go through the training, come back to work and nothing changes or improves. What happens? Well, the answer is simple.http://www.mnp.ca/en/media-centre/blog/2010/6/14/ensuring-training-success-transfer-of-learning/Mon, 14 Jun 2010 00:00:00 GMTUpon completion of the workplace violence Risk Assessment, the second step towards compliance is the development of policies and programs which address workplace violence and harassment. Well-drafted policies can provide employees information regarding what constitutes harassment or violence and how to report incidents.http://www.mnp.ca/en/media-centre/blog/2010/6/21/bill-168-workplace-violence-part-4-creating-policies-programs/Mon, 21 Jun 2010 00:00:00 GMTWithout training surrounding workplace violence and harassment, employees do not know what to do in the event of an incident or how to prevent violence before it happens. Providing training is another step to compliance with Bill 168. http://www.mnp.ca/en/media-centre/blog/2010/6/28/bill-168-workplace-violence-part-5-develop-implement-training-programs/Mon, 28 Jun 2010 00:00:00 GMTThere really are only two types of value in a company, the value of the tangible assets, and the value of the intangible assets. The fair market value of a company is the sum of these two types of assets. While this may seem obvious, the twist is that the value of the intangible assets is often not calculated directly.http://www.mnp.ca/en/media-centre/blog/2010/7/26/net-tangible-asset-value-part-1-fair-market-value/Mon, 26 Jul 2010 00:00:00 GMTWho would have thought US healthcare reform would have such a unique and profound effect in Canada? Buried in the details of “The Patient Protection and Affordable Care Act and the Health Care and Education Reconciliation Act” is a hidden provision that may well change how Canadian Corporations are taxed by the Internal Revenue Service (“IRS”).http://www.mnp.ca/en/media-centre/blog/2010/8/11/irs-uses-us-healthcare-to-catch-non-compliant-canadian-taxpayers-universal-coverage-may-have-new-meaning/Wed, 11 Aug 2010 00:00:00 GMTOnce all the corporate assets of the company have been adjusted from their reported net book value to their respective fair market values, the CBV will assess if any of those corporate assets are not required in order to generate the expected future operating cash flow.http://www.mnp.ca/en/media-centre/blog/2010/8/18/net-tangible-asset-value-part-2-redundant-assets/Wed, 18 Aug 2010 00:00:00 GMTWhile Canada has an excellent system of food safety, recent crises and product recalls have given food safety a high public profile -- raising the question of whether government and the food industry are investing sufficient financial and human resources to adequately address complex risks.http://www.mnp.ca/en/media-centre/blog/2010/8/25/its-time-to-consider-a-food-safety-tax-credit/Wed, 25 Aug 2010 00:00:00 GMTThis is perhaps the least well understood adjustment, the CBV may look at the difference between the existing and the optimal capital structure of the company as at the Valuation Date. For clarity, a company has two primary sources of capital, debt and equity, and the capital structure is probably best expressed as the debt to equity ratio.http://www.mnp.ca/en/media-centre/blog/2010/9/1/net-tangible-asset-value-part-3-the-value-of-leverage/Wed, 01 Sep 2010 00:00:00 GMTBuilding capacity in your community with MNP’s customized training solutions.http://www.mnp.ca/en/media-centre/blog/2010/9/7/business-training-designed-for-you/Tue, 07 Sep 2010 00:00:00 GMTRetention should be a priority for all businesses. Have you ever stepped back to consider the impact training can have on retention?http://www.mnp.ca/en/media-centre/blog/2010/10/18/training-as-a-retention-tool/Mon, 18 Oct 2010 00:00:00 GMTTerminating an employee is never an easy task, no matter how many times you have done it. When making the decision to terminate an employee, keep in mind that your primary goal is to maintain the employee’s dignity throughout this difficult process while also balancing the needs of your organization.http://www.mnp.ca/en/media-centre/blog/2010/10/20/termination-best-practices-preserving-dignity/Wed, 20 Oct 2010 00:00:00 GMTNon-profit organizations have certain specific features which make them particularly susceptible to fraud. So how can non-profits protect themselves? In this series, we will try and help non-profit organizations do just that by providing guidelines on how to safeguard their assets and reputation, starting at the (Tone at the)Top.http://www.mnp.ca/en/media-centre/blog/2010/10/27/preventing-fraud-in-non-profit-organizations-part-1-tone-at-the-top/Wed, 27 Oct 2010 00:00:00 GMTWith the recent oil spills, ongoing clean-up efforts, and an overall increase in environmental consciousness, Environmental or “Green” Accounting has come into focus.http://www.mnp.ca/en/media-centre/blog/2010/11/10/the-trend-toward-environmental-accounting/Wed, 10 Nov 2010 00:00:00 GMTThe Canada Revenue Agency currently has a tax credit program in place that may allow a Credit Union to receive a refund for a portion of expenditures made to address off-the-shelf system deficiencies, extensions to the application that are required to meet Credit Union business practices, or architecturally based shortcomings.http://www.mnp.ca/en/media-centre/blog/2010/11/17/how-credit-unions-can-use-innovation-as-a-tax-advantage/Wed, 17 Nov 2010 00:00:00 GMTLet’s set the scene – you're an entrepreneur; you have a spouse who isn’t working and you are about to have your first child. You currently have no staff, but your business is expanding rapidly and you need to hire some employees and they're going to want medical and dental coverage. What plan is right for your business' taxation needs?http://www.mnp.ca/en/media-centre/blog/2010/12/7/is-a-private-health-services-plan-right-for-your-business-taxation-needs/Tue, 07 Dec 2010 00:00:00 GMTIndividual Pension Plans (IPPs) are an excellent vehicle for business owners to save for retirement on a tax effective basis. We're going to focus on one particular benefit of IPPs, referred to as terminal funding. This is a large contribution opportunity which arises when the business owner retires.http://www.mnp.ca/en/media-centre/blog/2010/12/28/ipp-terminal-funding/Tue, 28 Dec 2010 00:00:00 GMTWhen the current generation wishes to transfer growth to the next generation to limit the exposure to taxes on death, they will almost always look at using an estate freeze. If the individuals own assets personally that are accruing value, the assets would normally be transferred to a corporation to effect the estate freeze.http://www.mnp.ca/en/media-centre/blog/2011/1/11/deviations-on-the-typical-estate-freeze/Tue, 11 Jan 2011 00:00:00 GMTAfter much speculation, anticipation and the usual political rhetoric, the US Congress finally passed the Tax Relief, Unemployment Insurance Reauthorization, and Job Creation Act of 2010. The Act will affect most US taxpayers, including the many Canadian individuals and businesses that are subject to US taxation.http://www.mnp.ca/en/media-centre/blog/2011/1/19/us-tax-relief-unemployment-insurance-reauthorization-and-job-creation-act-of-2010/Wed, 19 Jan 2011 00:00:00 GMTGiven the significant increases in land and quota values over the last number of years, it is becoming increasingly difficult to transfer the family farm at fair market value. This tax-deferred rollover can be an invaluable tool in succession planning and benefit future generations.http://www.mnp.ca/en/media-centre/blog/2011/1/26/transitioning-the-family-farm/Wed, 26 Jan 2011 00:00:00 GMTFrom a U.S. income tax perspective, certain rules apply to Canadians wintering in the U.S. Here's what you need to know.http://www.mnp.ca/en/media-centre/blog/2011/2/1/canadians-wintering-in-the-us/Tue, 01 Feb 2011 00:00:00 GMTIf you are considered as a Selected Listed Financial Institution, you will be required to file a form known as the Special Attribution Method for your upcoming fiscal year end. This form is required to be filed once per year within three months of your fiscal year end, commencing for all fiscal year-ends after July 1, 2010.http://www.mnp.ca/en/media-centre/blog/2011/2/9/will-hst-legislation-changes-impact-my-credit-union/Wed, 09 Feb 2011 00:00:00 GMTAmong professionals, the group most susceptible to fraud is dental practices. We'll go over the reasons why dentists are at risk more than any other professionals group and discuss what dentists can do to protect themselves and their practice.http://www.mnp.ca/en/media-centre/blog/2011/2/16/anti-fraud-issues-for-dental-practices/Wed, 16 Feb 2011 00:00:00 GMTIf you own a Canadian business, you have probably heard something about the capital gain deduction (or capital gain exemption). In my practice, clients are often surprised to learn it is not available to all businesses in all situations.http://www.mnp.ca/en/media-centre/blog/2011/2/17/using-your-capital-gain-deduction/Thu, 17 Feb 2011 00:00:00 GMTFor employers in Northern Canada, there is an opportunity to help employees with the travel component of their Northern Residents Deduction.http://www.mnp.ca/en/media-centre/blog/2011/2/17/maximizing-the-northern-residents-deduction/Thu, 17 Feb 2011 00:00:00 GMTOn January 31, 2011, Transparency International Canada issued a press release highlighting the fact that the RCMP’s Sensitive Investigations and International Anti-Corruption Unit currently has 23 active investigations into suspected breaches of the Canadian Foreign Public Officials Acts (CFPOA).http://www.mnp.ca/en/media-centre/blog/2011/2/24/canadas-anti-corruption-legislation-after-more-than-10-years-could-increased-enforcement-be-near/Thu, 24 Feb 2011 00:00:00 GMTOn April 11 and 12, 2011, Federated Press is organizing a course in Calgary titled “Board Risk Management” and one of the speakers is Maggie Kiel, MNP’s ERM and Internal Audit Practice Leader.http://www.mnp.ca/en/media-centre/blog/2011/3/2/change-in-corporate-governance-landscape-how-to-manage-risk-in-your-organization/Wed, 02 Mar 2011 00:00:00 GMTFor tax purposes, a partnership is not considered a taxpayer, but rather an entity that calculates and allocates its taxable income to its partners. The partners then include this allocation in their taxable income in the year containing the fiscal year end of the partnership.http://www.mnp.ca/en/media-centre/blog/2011/3/25/federal-budget-brings-changes-to-corporate-partnerships/Fri, 25 Mar 2011 00:00:00 GMTRunning a winery is demanding and understanding the business of wine can be a full-time job. But to be successful, you need to tend to your business plan and tax situation as much as your winery. Knowing what tax-incentive programs are out there allows you to make informed business decisions and grow your operation.http://www.mnp.ca/en/media-centre/blog/2011/3/30/harvest-the-benefits-of-tax-incentive-programs-for-your-winery/Wed, 30 Mar 2011 00:00:00 GMTThe vast majority of the market is made of people who won’t buy until someone else buys first. Sales take off when you get the early majority on side, but you can’t get there unless your message resonates with the early adopters. You can capture these people by switching your focus from what to why.http://www.mnp.ca/en/media-centre/blog/2011/4/6/forget-the-what-when-selling-wine/Wed, 06 Apr 2011 00:00:00 GMTA trust can be a valuable tool for a family to use as part of an estate plan or for income splitting purposes. CRA is aware of these uses and seems to be focusing its audit efforts on the income splitting objectives.http://www.mnp.ca/en/media-centre/blog/2011/4/19/can-your-trust-survive-an-audit-by-the-canada-revenue-agency/Tue, 19 Apr 2011 00:00:00 GMTThreats to food safety are among the most serious risks to food and beverage processors today. I have 10 questions food processors should ask themselves in order to determine whether or not their plan is relevant.http://www.mnp.ca/en/media-centre/blog/2011/4/29/food-for-thought-you-cant-afford-not-to-have-a-food-recall-plan/Fri, 29 Apr 2011 00:00:00 GMTA financial planner contact recently brought a new client to me. The client (“Bob”) was investigating incorporating his business and wanted to understand the benefits. Bob had built his business over the last 8 years and was looking at selling within the next 5 years. He already had potential purchasers asking: “would you consider selling?”http://www.mnp.ca/en/media-centre/blog/2011/5/3/incorporating-your-business-am-i-too-late/Tue, 03 May 2011 00:00:00 GMTCanadian corporations have different tax rates depending on their size, their income, and the type of income earned. In Canada, we have a general theory that it should not matter how the income is earned, it should be subject to the same amount of tax once it has been received by the shareholder, regardless if it was earned in a company or not.http://www.mnp.ca/en/media-centre/blog/2011/5/12/salary-vs-dividends-a-brief-overview/Thu, 12 May 2011 00:00:00 GMTIf you’re a dentist, you’ve told your patients that good hygiene is one of the most important things they can do to maintain the health of their teeth. But has anyone ever told you that developing a good hygiene practice is also one of the easiest and most important things you can do to maintain and improve the value of your dental practice?http://www.mnp.ca/en/media-centre/blog/2011/6/8/the-value-of-good-hygiene/Wed, 08 Jun 2011 00:00:00 GMTUntil recently, the Canada Revenue Agency allowed joint ventures to establish a fiscal period that was different from the fiscal period of the venturers, where the venturers had different fiscal periods and where there was a valid business reason to justify a different fiscal period of the joint venture.http://www.mnp.ca/en/media-centre/blog/2011/7/22/a-change-in-canada-revenue-agencys-joint-venture-administrative-policy/Fri, 22 Jul 2011 00:00:00 GMTMany people today not only use their car for personal use, but also for business purposes. As such, they are entitled to get a deduction for the business portion of their vehicle's expenses.http://www.mnp.ca/en/media-centre/blog/2011/9/1/a-simplified-method-of-keeping-track-of-car-expenses/Thu, 01 Sep 2011 00:00:00 GMTA question business owners often ask is whether minor children should be shareholders in the family business corporation. Usually, this is a tax motivated question, in that the higher income parents wish to access the lower marginal tax rate of their minor children.http://www.mnp.ca/en/media-centre/blog/2011/9/27/should-you-have-minor-children-as-shareholders-of-your-family-business/Tue, 27 Sep 2011 00:00:00 GMTThe Saskatchewan PST regime is certainly not without its own reporting requirements and responsibilities. Non-compliance will bring with it related penalties and interest.http://www.mnp.ca/en/media-centre/blog/2011/9/30/10-important-facts-for-non-residents-doing-business-in-saskatchewan/Fri, 30 Sep 2011 00:00:00 GMTThe majority of families in Canada look forward to a vacation as a time to get away from the everyday routine of work and school and to relax and spend time with the family. In today’s economy, a business that could offer some potential savings to make a family’s vacation more affordable will be seen as being an attractive option.http://www.mnp.ca/en/media-centre/blog/2011/10/14/have-the-government-help-pay-for-your-vacation/Fri, 14 Oct 2011 00:00:00 GMTTaking a balanced approach to ensure you are prepared to overcome obstacles and meet your business goals allows your oilfield services company to contend with the changing landscape.http://www.mnp.ca/en/media-centre/blog/2011/10/19/taking-a-balanced-strategic-approach-to-management/Wed, 19 Oct 2011 00:00:00 GMTOn October 17, 2011, the Jenkins Commission released the long-awaited findings of its review of federal support for R&D in Canada in the report Innovation Canada: A Call to Action.http://www.mnp.ca/en/media-centre/blog/2011/10/27/sred-changes-what-do-they-mean-for-you/Thu, 27 Oct 2011 00:00:00 GMTThe HST was voted out in B.C. Businesses in the province must transition back to collecting and paying PST and GST—a process that will have its own complexities that need to be carefully managed. The good news is that the transition may also benefit you.http://www.mnp.ca/en/media-centre/blog/2011/11/1/hst-in-bc-helping-you-manage-the-transition-back-to-pst/Tue, 01 Nov 2011 00:00:00 GMTTransparency International releases the results of its 2011 Corruption Perceptions Index: How did Canada do and why should you care? http://www.mnp.ca/en/media-centre/blog/2011/12/2/2011-corruption-perceptions-index-how-did-canada-fare/Fri, 02 Dec 2011 00:00:00 GMTWhen you sell your oilfield services business, it’s critical that you are able to sell for as high a multiple as possible.http://www.mnp.ca/en/media-centre/blog/2011/12/14/increasing-the-value-of-your-oilfield-service-business/Wed, 14 Dec 2011 00:00:00 GMTRecently the Deposit Insurance Corporation of Ontario released an advisory which outlines the procedures they expect credit unions to follow when providing banking services to Money Services Businesses. We'll summarize the risks and rewards of serving MSBs, the procedures DICO’s suggests, and outline the MSB screening and monitoring services. http://www.mnp.ca/en/media-centre/blog/2012/1/19/risk-or-reward-serving-money-services-businesses/Thu, 19 Jan 2012 00:00:00 GMTSNC-Lavalin has maintained it was not involved with the plot and that it had done nothing wrong with respect to its Libyan operations. Just last week, it announced an independent investigation into $35-million worth of improperly documented payments related to construction projects "and certain other contracts" in the last quarter of 2011.http://www.mnp.ca/en/media-centre/blog/2012/3/6/surviving-an-internal-investigation-what-can-we-learn-from-the-snc-lavalin-matter/Tue, 06 Mar 2012 00:00:00 GMTReporting entities are eager to know the impact that international anti-money laundering standard changes might have on their operations. Those international standards are maintained by the Financial Action Task Force (FATF), and they were updated on February 15, 2012 for the first time since 2003. http://www.mnp.ca/en/media-centre/blog/2012/3/9/fatf-updates-international-anti-money-laundering-standards-what-you-need-to-know/Fri, 09 Mar 2012 00:00:00 GMTAnother lesson in fraud and reputational damage from the SNC-Lavalin investigation.http://www.mnp.ca/en/media-centre/blog/2012/4/3/why-tone-at-the-top-and-management-override-dont-mix/Tue, 03 Apr 2012 00:00:00 GMTIf you’re doing R&D to provide the same product at a lower cost; improve packaging, environmental sustainability, or web-based customer interaction; establish traceability; or develop functional or anti-allergenic foods, you may be eligible for the SR&ED tax credit.http://www.mnp.ca/en/media-centre/blog/2012/4/23/2012-federal-budget-is-ripe-for-innovation-for-the-canadian-agri-food-industry/Mon, 23 Apr 2012 00:00:00 GMT