BWise Software Solution to Comply with Bill 198
Bill 198 was enacted by the Ontario Government in Canada. It provides authority for the Ontario Securities Commission (OSC) over corporate controls. Specifically, the OSC is provided with power to enact rules requiring audit committees, systems of internal controls, CEO’s and CFO’s providing certifications related to internal controls, and the disclosure of controls and procedures. The OSC may also define auditing standards for the reporting of internal controls.
Compliance with Bill 198
Bill 198 and (MI) 52-109 (Canadian rule requiring "Certification of Disclosure in Issuers’ Annual and Interim Filings") created standards for all Canadian companies, their boards, management, and public accounting firms. To adequately implement these standards, companies must have comprehensive records of all forms of disclosure, including those on their corporate web site. Most corporate web sites are not adequately covered by disclosure controls and procedures, which can be a potential risk. Companies need to be able to prove that they adequately followed disclosure controls and procedures. To ensure compliance with Bill 198, identify and manage potential risks in an efficient and effective manner, BWise offers an integrated, Governance, Risk and Compliance software platform, recognized by independent analysts.
Transcontinental chose BWise to assist with Bill 198 compliance
The BWise® integrated GRC Platform offers multiple role-based software solutions for Risk Management, Internal Control, Internal Audit, Compliance & Policy Management, IT GRC and Sustainability Performance Management. Transcontinental chose BWise to assist the organization with their Multilateral Instrument 52-109 (Bill 198) compliance and their risk assessments. Transcontinental sought a GRC solution that could not only meet their Bill 198 compliance needs, but also their risk assessments and surveying needs. Transcontinental was only interested in vendors that could provide a multi-language GRC system with a proven record of accomplishment in integrating several national and international compliance mandates.
More information about why Transcontinental chose BWise to comply with Bill 198.