GUEST BLOG Instituting and maintaining effective control systems is costly and challenging in even the best of times. Add in the instability that results from such difficulties as financial crises, regional political instability, pandemics, and others crises, and the costs and challenges are magnified. Effective control systems are costly because Read More
The Financial Reporting Council, the U.K.’s financial watchdog, fined Grant Thornton 3 million pounds ($3.77 million) for ethics failures relating to its audit of Conviviality, a collapsed alcohol retailer. The firm had continuously failed in ethics over audits in the course of three years, breaching standards and requirements regularly. Grant Read More
A New York financial watchdog fined Deutsche Bank $150 million for its connections to Jeffrey Epstein and correspondent relationships with Dankse Estonia and FMBE Bank. The move is the first enforcement action of a regulator against a financial institution for dealings with Jeffrey Epstein, who was arrested last year under Read More
While organizations often rely on internal auditors to identify the characteristics of a hostile workplace and bring them to management’s attention, one internal audit chief stands accused of creating one. Last month, the city of Hartford, Conn.’s human resources director, Thulani LeGrier, recommended the firing of Hartford’s chief internal auditor, Read More
