About Apolone Gentles, JD, CPA,CGA, FCCA, Bsc (Hons)
8 essential components of compliance risk management
There are at least 8 essential components of compliance risk management programs. Risk management aims to reduce the likelihood that an organization will not achieve its goals and objectives. Compliance is the obligation to adhere to laws, regulations, contract terms, internal policies, and other requirements. Compliance risk management refers to the organizational procedures, processes and culture that reduce the likelihood of non-compliance.
Apolone Gentles, JD, CPA,CGA, FCCA, Bsc (Hons)
5 minutes read
December 2, 2020 
Job rotations and vacations as internal controls
Job rotations and vacations continue to be effective internal controls. A September 30, 2020 article in the Scotsman newspaper (the Article) was a recent reminder of this fact. The article explains that embezzlements, which had gone on for more than eight years, began to unravel and were ultimately discovered after the embezzler’s manager announced plans to rotate staff to give them broader experiences.
Apolone Gentles, JD, CPA,CGA, FCCA, Bsc (Hons)
The ISACA has traded in COBIT 5 for COBIT 2019 (Part 3 of 3)
The ISACA has traded in the 7-year old COBIT 5 for COBIT 2019. This is the last of a 3-part series examining this change. Read part 1 here and part 2 here.
Apolone Gentles, JD, CPA,CGA, FCCA, Bsc (Hons)
The ISACA has traded in COBIT 5 for COBIT 2019 (part 2 of 3)
The ISACA has traded in the 7-year-old COBIT 5 for COBIT 2019. This is the second of a 3-part series exploring COBIT 2019.
Apolone Gentles, JD, CPA,CGA, FCCA, Bsc (Hons)
The ISACA has traded in COBIT 5 for COBIT 2019 (Part 1 of 3)
The ISACA has traded in the 7-year-old COBIT 5 for COBIT 2019. This 3-part article explains COBIT 2019, based on published ISACA guidance.
Apolone Gentles, JD, CPA,CGA, FCCA, Bsc (Hons)
It’s almost year end; avoid cut-off errors
Cut-off errors are common and it is important that you avoid them, particularly at year end when one fiscal year will be closed and finalized for the external audit or as a precursor to starting the new fiscal year.
Apolone Gentles, JD, CPA,CGA, FCCA, Bsc (Hons)
Improve internal controls over fixed assets (Part 1)
Many organizations face challenges with recording and physically safeguarding fixed assets. Organizations must also meet disclosure and other requirements when they prepare audited or other financial statements, corporate tax returns (applicable to for-profit organizations) and T3010 Registered Charity Information Returns (applicable to charitable organizations). Accounting processes and procedures must facilitate these activities.
Apolone Gentles, JD, CPA,CGA, FCCA, Bsc (Hons)
Employee forfeits $115,000.00 in bonuses by resigning; active employment clause valid
A bonus policy may state that employees who are eligible for bonuses must also be actively employed to receive their bonus payments. That is, employers may institute an “active employment clause”. Courts will uphold valid active employment clauses, as demonstrated by Bois v. MD Physician Services Inc., 2017 ONCA 857 (CanLII). MD Physician Services Inc. […]
Apolone Gentles, JD, CPA,CGA, FCCA, Bsc (Hons)