An internal audit found fraud, bullying, and sabotaged vehicles at an English city’s rubbish and recycling department Cityclean. Brighton and Hove’s city council audit began after a whistleblower complaint, but the auditors were so concerned that they called in the county police. The auditors found the budget was overspent by Read More
The Internal audit profession will be bidding adieu to one of its top long-term leaders. The Institute of Internal Auditors announced today that longtime president and CEO Richard Chambers will be stepping down from his role next March. Chambers said that his decision comes from many months of consideration about Read More
Startups focused on risk management and security have risen in the interest of venture capitalists as remote work has brought along concerns of higher risk. As businesses become more interested in risk management, startups that cater to this need flourish. Software for cybersecurity, data governance, and other risk-management factors are Read More
The Department of Justice and the Securities and Exchange Commission released the second edition of the Resource Guide to the Foreign Corrupt Practices Act on July 3, its first update in eight years. The resource guide details the government’s expectations for an internal control system, highlighting that it should “take Read More
The largest electric utility in Illinois, Commonwealth Edison Company (ComEd), has agreed to a $200 million settlement with the District Attorney’s Office of the Northern District of Illinois to resolve a bribery investigation. ComEd admitted to monetary payments and arranging jobs and subcontracts for associates of longtime Illinois house speaker, Read More
An internal audit found that the Louisville Metro Police did not properly monitor how the department spent overtime funds. The audit was ordered in 2018 by the city council of Louisville, Ky., after the police department acknowledged $1.2 million in abuse of overtime funds from December of 2016 to 2018. Read More
Universal Health Services has agreed to a settlement with the Department of Justice to pay $122 million for alleged false claims for behavioral health treatments that were unnecessary and failed to provide adequate care for patients admitted to UHS facilities. UHS, headquartered in Pennsylvania, owns and operates nearly 200 psychiatric Read More
The CEO and president of Make-A-Wish Iowa was fired after an internal audit uncovered financial irregularities, the board chairman Joshua Norton said in a statement. Further investigations of the organization’s financials are ongoing and Jennifer Woodley, who was appointed CEO less than a year ago, was dismissed. Norton declined to Read More
The U.K.’s Serious Fraud Office reached an agreement with a subsidiary of G4S PLC, a security services company, for a 38.5 million pound ($48.6 million) settlement for allegations of procurement fraud. The allegations consist of three offenses of fraud, occurring between August 2011 and May 2012 with the intention to Read More
Boston pharmaceutical company Alexion agreed to a $21 million settlement with the Securities and Exchange Commission regarding allegations that it violated the Foreign Corrupt Practices Act regulations in its dealings via subsidiaries in Turkey and Russia. The SEC alleged that Alexion subsidiaries in Turkey made payments to foreign officials for Read More
