GUEST BLOG: Here is an obvious point—internal controls are intended to ensure compliance with relevant policies and procedures. Internal controls are not just for show, or not just limited to financial reporting. A compliance program is a subset of a company’s internal controls. So, all this is well and good. Read More
The Institute of Internal Auditors is calling on the Group of Twenty nations to further strengthen its support of effective organizational governance worldwide. In a letter to G20 Secretary-General Dr. Fahad bin Abdullah Toonsi, The IIA urges the G20 to reinforce the basic elements of governance as described in the Read More
Guest Blog With most office workers still toiling from the confines of their home offices and kitchen tables, and some unhappy with their current circumstances, many organizations are concerned about the potential for a rapid rise in fraud. The global economic contraction has hurt employee morale and has heightened vulnerability Read More
A former internal auditor at NJ Transit claims in an email sent to state and federal officials this week that the agency has slipshod controls that have allowed fraud to take place, lacks transparency for internal investigations, and has no established standards for bus maintenance. “As a NJT Internal Audit Read More
The Securities and Exchange Commission voted this week to adopt amendments that will modernize, simplify, and enhance certain financial disclosures, including the Management’s Discussion and Analysis requirement. The changes are intended to enhance the focus of financial disclosures on material information for the benefit of investors, while simplifying compliance efforts Read More
According to new survey findings, risks will continue to be largely unpredictable in 2021, and the shift to remote work wont be ending anytime soon. The survey results, released by software platform AuditBoard, find that the risk landscape will continue to greatly fluctuate next year rather than returning to more Read More
Companies are taking a closer look at how to effectively manage and mitigate compliance risks, especially at a time when many compliance programs are under the microscope from regulators while also dealing with the effects of a global pandemic. The Committee of Sponsoring Organizations (COSO) has released a new publication, Read More
Eastman Kodak said this week that problems with internal controls allowed five former executives to sell roughly $5.1 million worth of stock options in July, the same month a highly scrutinized federal loan announcement sent the company’s stock price soaring more than 2,100 percent. The company learned of the deficiencies Read More
GUEST BLOG For years, leaders in the internal audit profession have talked about the proverbial “seat at the table.” They envisioned internal audit having place at the table when some of the most important decisions are being made at the highest levels of the organization. Some chief audit executives and Read More
The Federal Bureau of Investigation has created a new Office of Internal Auditing intended to enhance compliance, oversight, and accountability of national security activities at the Bureau. It also named Mark J. Gerber, a former PwC partner and FBI special agent, as the assistant director to lead the new office. Read More
