When you go to the doctor, do you want them to tell you what’s really wrong with you so that you can begin to treat the actual illness? Or are you content with that doctor only treating the symptoms, leaving the actual illness undiagnosed? Of course not. Well, issuing reportable Read More
The Financial Reporting Council, Britain’s audit regulator, admonished KPMG once again for conducting poor audits. The FRC says the Big Four firm’s banking audits are not up to acceptable standards for the third year in a row. And KPMG isn’t alone as a target of the regulator’s criticism: Out of Read More
In the current business environment, senior management is asking some internal audit functions to do more work that resembles quality assurance. There are several reasons for this, but generally those reasons fall under the heading of business process disruption in one form or another. These may be disruptions to the Read More
The Securities and Exchange Commission has released its 2021 “Agency Rule List” to give companies an idea of the regulations in its pipeline and when they can expect them to move forward. The list includes a schedule of proposed and final rules on such topics such as climate change disclosures, Read More
Akron General Health System, a regional hospital system based in Akron, Ohio, will pay $21 million to resolve allegations under the False Claims Act of improper relationships with certain referring physicians, resulting in the submission of false claims to the Medicare program. The settlement resolves charges that between August 2010 Read More
Last October, the Securities and Exchange Commission sent a clear message to companies with significant operations overseas: ensure that a robust anti-bribery program is in place and functioning properly or pay the price. The SEC sent that message via a $10 million fine against Sussex, Wisconsin-based printing and marketing company Read More
As more Americans receive vaccinations and the rate of COVID-19 cases steadily declines, more companies are planning for employees to return to their offices. Even as they do, work promises to look different than it did before many started working from their dining room tables and basements. Perhaps nowhere is Read More
GUEST BLOG Remote internal auditing is largely a product of the pandemic, an invention mothered by necessity as audit teams were forced to work remotely and travel was restricted. It is becoming clear now, though, that they are here to stay. I must admit that not all of us were Read More
The COVID-19 pandemic has affected many aspects of both professional and non-professional life, and its impact on internal audit has been unmistakable. In fact, a recent survey found that more than half of governance, risk management, compliance (GRC), and internal audit professionals say that their workload has increased significantly since Read More
Investors and regulators are pushing for more comprehensive and uniform reporting on environmental, social, and governance (ESG) efforts. Some organizations are even tying incentive compensation metrics to ESG goals. In March, the Securities and Exchange Commission said it would be looking more closely at ESG disclosures and also announced the Read More
