The top U.S. audit regulator has signed an agreement with China that marks the first step toward gaining access to complete inspections and investigations of public accounting firms headquartered in mainland China and Hong Kong. The Public Company Accounting Oversight Board inspects and investigates public accounting firms in more than Read More
Internal auditors are getting bullied and sanctioned when they present uncomfortable findings to management and the recent Star Casino money launderingcase is just one example, according to a survey by the Australian chapter of the Institute of Internal Auditors. One in seven internal auditors – 14 per cent – said Read More
If you are like most Americans, your parents or guardians encouraged you to eat all of the food on your plate when you were a child—including the dreaded broccoli, Brussels sprouts, or whatever food you found unpalatable. It’s also likely that your parents incentivized you to eat all your dinner Read More
As an internal audit practitioner since 2007 it has been my goal to make internal auditing more relevant and more effective in practice. During my time in the profession, and as a chief audit executive, I have noticed that there is a significant spread in the types of internal audit Read More
Evolution is a process of change. In recent years we have seen a significant change in the human resources auditing process, in the value derived from HR auditing, and in the tools that companies are using to audit HR. HR audits have evolved from a simple checklist of dos and Read More
Internal audit leaders may feel like their departments are being stretched thin these days—well, even thinner than usual. New research suggest that internal audit budgets have been cut at many companies, even as the function is facing an expanded workload. The pandemic has exposed new and heightened risks that need Read More
GUEST BLOG: One of the challenges when it comes to so-called “cybersecurity risk” is in accepting and then applying the idea that cyber is not an “IT risk.” No. It’s a business risk. That is easy to say, and it makes all the sense in the world. However, people tend Read More
The U.K. Financial Reporting Council announced July 18 it has imposed financial and non-financial sanctions, as well as a “severe reprimand,” against Grant Thornton UK and a former audit partner of the firm for failures during 2016 and 2018 audits of the financial statements of British retail company Sports Direct Read More
A new study finds that rapid transformation to the digital economy is putting a strain on control systems within organizations. The speed and intensity of changes, brought by the COVID-19 pandemic and rapid shifts in the economy, have disrupted staffing and increased the adoption of advanced technology, which has impacted Read More
Leidos, a Reston, Va.-based defense contractor, has appointed Thomas Sanglier as its new chief audit executive to oversee the company’s internal audit function. In a statement announcing the move, Leidos says Sanglier will deliver “independent, objective assessments and assurance.” “We are pleased to welcome Tom to Leidos and excited to Read More
