The Securities and Exchange Commission announced today that President Joseph R. Biden, Jr. has designated Allison Herren Lee as Acting Chair of the agency. “It’s an honor to continue my service on the Commission in this new role,” Acting Chair Lee said. “I have tremendous respect for my colleagues on Read More
The pandemic has confronted many managers with the need to consider some belt tightening. Indeed, many organizations have been forced to delay capital investments, reduce inventory levels, furlough and lay off workers, and conduct other cost-cutting activities over the last months, as they worked to make ends meet. Internal audit Read More
Manufacturing firms are facing increased threats from cybercriminals targeting weaknesses in supervisory, control, and data acquisition (SCADA) systems. Regulatory bodies recognize the data security challenges that manufacturers face and have initiated various requirements and standards of operations meant to safeguard data. Non-compliant firms risk huge fines or even jail terms Read More
Data duplication is a serious problem that has long plagued organizations and complicated the data analytics efforts of internal audit. At best, it hogs up expensive storage space and frustrates communications with customers; at worst it can lead companies to make flawed business judgements. Business users, data analysts, IT managers, Read More
The Institute of Internal Auditors, an internal audit professional association, has launched a new tool specifically designed to give boards and audit committees assurance that internal auditors are performing their job effectively. The assessment tool offers suggestions for issues to be addressed in an evaluation based on established best practices. Read More
If the COVID-19 pandemic has highlighted anything in corporate America, it is that the need for good governance structures is vital to effectively navigating these trying times. So how good are governance practices at major American companies? Not terrible, but not great either, says a new report from the Institute Read More
The Institute of Internal Auditors has named Anthony Pugliese as the association’s new president and CEO, succeeding Richard Chambers in the role he has held since 2009. Pugliese will take over the job at the end of March. Pugliese most recently was CEO of the California Society of CPAs, the Read More
W ith so many people working from home or remotely during the pandemic for an extended time, it is logical to question if this environment has influenced the corporate culture. A new poll from AdapGility Consulting attempts to answer this question. The results show a very mixed view of how Read More
The Reserve Bank of India called on India-based banks to align their internal audit functions with international best practices, such as those issued by the Basel Committee on Banking Supervision (BCBS). According to a 2002 guidance note, India banks are required to put in place a risk-based internal audit system Read More
GUEST BLOG What is risk appetite? It is defined by COSO as the “amount of risk, on a broad level, an organization is willing to accept in pursuit of value.” Before analyzing that nebulous statement, it is useful to consider why we are even thinking about risk appetite statements. Basically, Read More
