Along with the COVID-19 pandemic, 2020 and 2021 will be remembered as years when issues centered on racial justice captured the nation’s attention. The outrage stemming from the deaths of George Floyd, Ahmaud Arbery, Breonna Taylor, and others has sparked a reexamination of race issues and discrimination that many consider Read More
The results of a new survey indicate that internal audit’s ongoing digital transformation could accelerate in 2021. The survey, conducted by AuditBoard and the Institute of Internal Auditors’ Internal Audit Foundation (IAF), finds that internal audit functions plan to increasingly adopt cloud-based software platforms. Nearly a quarter (22 percent) of Read More
GUEST BLOG POST With the increased focus on adding value and using more technology in internal audits, the lines have been blurred somewhat on the role internal audit should play in the organization. Internal audit functions are undertaking a wide variety of tasks and spreading themselves thin as they try Read More
The Securities and Exchange Commission has awarded more than $500,000 to a whistleblower who raised concerns internally before submitting a tip to the Commission. The whistleblower’s information and assistance allowed the Commission and another agency to quickly file actions, shutting down an ongoing fraudulent scheme. The whistleblower’s information prompted an Read More
The Institute of Internal Auditors is considering revisions to its International Professional Practice Framework (IPPF), which acts as a set of practice and conduct standards for the internal audit profession. As part of an ongoing process, and to continue to meet the demands of internal audit professionals and the expectations Read More
State Auditor Beth Wood said the North Carolina Department of Transportation (NCDOT) did not follow standard practices for its latest audit, leading to possible inaccuracies within the embattled state agency. Wood laid out a slew of issues Wednesday with the NCDOT’s December audit to the Senate Committee on Transportation. She Read More
With internal auditors increasingly pressured to boost the value they bring to their organizations, some are asking whether artificial intelligence (AI) may help them meet this goal. Artificial intelligence, which leverages algorithms to identify and understand patterns and anomalies within data sets, can help internal auditors more efficiently identify areas Read More
Plug Power said it found accounting errors in results for 2018, 2019, and the first three quarters of 2020 and that it will restate earnings for those periods. The company, a maker of hydrogen fuel cells, had been flying high, with its stock up nearly 1,400 percent is just the Read More
Top executives at companies hit by accounting scandals could lose their bonuses under U.K. proposals for beefed-up regulation after a wave of corporate collapses including Carillion Plc and travel firm Thomas Cook Group Plc. The government proposed creating a new regulator with the power to wield a range of sanctions, Read More
As the vaccination effort continues and hope is spreading that we might be nearing the end of the COVID-19 pandemic, it’s still too early to assess the long-term impact the past year of crisis will have on daily life, the economy, and—as it relates here—the internal audit profession. Now, a Read More
