The Securities and Exchange Commission charged audit firm CohnReznick LLP with improper professional conduct on audit engagements for two clients in 2017 and hit the firm with a $1.9 million penalty to settle the charges. The agency also charged three of the firm’s partners with improper conduct related to the Read More
Internal auditors are busy folks. There never seems to be enough hours in the day to get through everything on the audit plan, not to mention the issues that seem to crop up all the time. These days, the topics that seems to be on the tip of everyone’s tongue Read More
If the last few years have shown us anything, it’s that we must be ready for the unexpected. From the disruptions of the global pandemic to soaring inflation, from political scandals to a war of aggression in Ukraine—life as we know it is changing. The public sector doesn’t exist in Read More
GUEST BLOG POST: Earlier this year, I read the book Drive, by Daniel Pink. It’s an easy-to-read business book full of forward-looking non-conventional ideas on managing, motivating, and compensating people, among other topics. I liked the book so much that I started following Pink on LinkedIn, where I learned that Read More
Internal audit spends most of its time assessing various functions and processes across the organization. But how well does it know itself? After all, Aristotle once said, “knowing yourself is the beginning of all wisdom.” Luckily, there is an accepted review process for assessment of internal audit, known as a Read More
The U.K. government has issued a 140-page document that outlines a long-awaited proposal to overhaul of the auditing industry. The proposal included plans to revise the definition of “public-interest entities” regarding regulation to include major private firms and to create a new regulatory body to oversee the auditing industry. Missing Read More
Continuing a long-standing tradition that started in the 1990s, the internal audit profession is observing “International Internal Audit Awareness Month” this May. During the month, internal auditors around the world share examples of how the profession provides value to organizations, spotlight the profession’s commitment to good governance and risk management, Read More
A special investigation of the University of Iowa Health Care and Clinics’ Care Coordination Division found that more than $16,000 of gift cards were unaccounted for, the Iowa Auditor of State reported Tuesday. University of Iowa officials requested the special investigation for the period of August 2012 through 2020 since Read More
A new report finds that despite the growth of digital risks, many risk management programs are not maturing quickly enough to keep pace. The study, 2022 Digital Risk Maturity Survey, conducted by AuditBoard—which provides audit, risk, and compliance management platforms—finds that while more than 90 percent of respondents have digital Read More
Let me start by saying, this is a touchy subject. While there is very little debate that the head of internal audit, usually the chief audit executive (CAE), should report functionally to the board (usually the audit committee of the board), there are some strong opinions on where it should Read More
