Download Annual Report Download Operating Environment Chartered Professional Accountants of Canada (CPA Canada) pursues opportunities, provides services and conducts activities that may expose it to a variety of risks. The ability to respond appropriately and effectively to expected and unanticipated change is critical to the organization’s success. key risks: CPA Canada’s key risks can have a significant, adverse impact on the organization’s reputation, and its ability to achieve its priorities, objectives and financial performance. CPA Canada is exposed to external and environmental risks, internal and operational risks, as well as financial risks. risk management approach: CPA Canada’s risk management policy is to apply an enterprise risk management (ERM) framework that helps guide the organization in its risk management activities. risk governance: The board oversees the organization’s ERM and approves a risk management policy and an annual risk-tolerance profile designed to ensure a consistent understanding of risk exposure.