Calgary-based electroBusiness now lets ‘whistleblower’ employees ‘talk’ electronically to their employer’s audit committee, in compliance with new Canadian regulations. The new rule, ‘Multilateral Instrument 52-110,’ requires publicly traded companies to establish whistleblower systems by July 1, 2005.
Part 2.3 subsection 7(b) requires companies to establish procedures for, ‘the confidential, anonymous submission by employees of the issuer, of concerns regarding questionable accounting or auditing matters’. electroBusiness’ products eBsecuredesk and eBgateway are compliant with the new rule and allow for ‘the secure submission of confidential documents and information directly to the audit committee from anonymous employees’.
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