OSC’s Whistleblower Program and its Implications for Internal Audit Professionals
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Event Details
OSC’s Whistleblower Program and its Implications for Internal Audit Professionals
May 14, 2019
1:00 pm - 2:00 pm
Event Description

The OSC’s Whistleblower Program, launched in 2016, is the first paid program of its kind in Canada to offer awards of up to $5 million to whistleblowers for information on violations of Ontario securities law. The program is designed to motivate individuals with specific, timely and credible information on securities misconduct to come forward and report to the OSC, while also encouraging them to work through their entity’s internal compliance and reporting mechanisms. It presents an opportunity for market participants to create a culture that encourages and empowers employees to report wrongdoing, without fear of reprisal. This session will cover:  

· An overview of the OSC’s Whistleblower Program, its progress and recent developments,
· Legislative amendments which bolster anti-reprisal protections, and
· Practical whistleblowing considerations for internal audit professionals.
Our Speakers are;
Krystyna Kott - Chief Internal Auditor, Ontario Securities Commission

Krystyna Kott is the Chief Internal Auditor of the Ontario Securities Commission where she established an internal audit function and helped the Commission to enhance its governance and risk management practices. In previous public sector roles she was an internal audit director for the Province of Ontario. She also played leadership roles in modernizing management practices across the province including introducing a provincial general ledger to replace multiple ministry general ledgers, moving the province from cash-based to accrual-based accounting, simplifying province-wide internal reporting and establishing risk management and performance management processes. In the private sector she was controller for an airline start up in the US and Controller/Chief Financial Officer for a transportation group of companies in the Caribbean.

She has served as board member, board secretary and chaired board audit, governance and HR committees of several non-profit organizations.

Shaifali Joshi-Clark, CPA, CA, CFA – Senior Forensic Accountant, Office of the Whistleblower, Ontario Securities Commission

Shaifali Joshi-Clark is a Senior Forensic Accountant in the Office of the Whistleblower of the Enforcement Branch. She was a key member in the development of the OSC’s Whistleblower Program. Since the program’s launch in 2016, she deals directly with Whistleblowers and reviews their tips, corresponds with Commission Staff assigned to investigate whistleblower tips and responds to public enquiries about the Whistleblower Program. Prior to joining the Enforcement Branch in 2015, Shaifali worked for over six years in the Corporate Finance Branch of the OSC where she reviewed offering documents and continuous disclosure filings of issuers primarily in the mining and biotech industries. Prior to joining the OSC in 2008, Shaifali worked at an international investment bank in equity research and in the finance department of a global mining company. Shaifali is a Chartered Accountant and a CFA® charterholder.

Daniella Kozovski, B.A., M.A., LL.B. - Senior Investigation Counsel, Office of the Whistleblower, Ontario Securities Commission

Daniella Kozovski is Senior Investigation Counsel with the Office of the Whistleblower at the Ontario Securities Commission. Daniella joined the Office of the Whistleblower in early 2019 and is responsible for reviewing and assessing whistleblower submissions, corresponding with whistleblowers, assisting Commission staff assigned to investigate whistleblower matters, responding to calls made to the whistleblower hotline and conducting outreach by participating in speaking engagements discussing the whistleblower program. Prior to joining the Office of Whistleblower, Daniella spent close to 15 years with the Enforcement Branch in various roles which included leading multi-disciplinary teams investigating and prosecuting a variety of Ontario Securities Act violations such as unregistered trading, illegal distributions and fraud. Daniella also has a Certificate in Blockchain, Smart Contracts and the Law and a Certificate in Alternative Dispute Resolution.