Factors frequently overlooked in risk assessments
The problem with most risk assessments is that they seek to evaluate each source of risk in a silo, rather than considering the big picture.
Globe and Mail article “CRA typo causes a multimillion-dollar mistake for the Hewitt Foundation” focuses on the importance of T3010
There was a recent Globe and Mail article “CRA typo causes a multimillion-dollar mistake for the Hewitt Foundation“. This article is a reminder of the importance of the T3010. It is used by many different groups, not only regulators. This article by Paul Waldie is quite interesting. However, I would point out in this short article a number of important omissions.
WHY do auditors do that?
One of the most powerful words for an auditor is one of the shortest: “why.” We should always ask an individual performing a control why they are doing it.
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