P acific Gas and Electric Co. is establishing a chief audit officer role and making changes to the job profiles and responsibilities of those who oversee and manage risk at the San Francisco-based energy company. PG&E is expected to exit bankruptcy later this month, after a turbulent time in the Read More
GUEST BLOG Instituting and maintaining effective control systems is costly and challenging in even the best of times. Add in the instability that results from such difficulties as financial crises, regional political instability, pandemics, and others crises, and the costs and challenges are magnified. Effective control systems are costly because Read More
Whether you opt for remote audits during the ongoing COVID-19 outbreak or for other reasons, there is no denying that there are some unique obstacles to overcome. Remote internal audit work may facilitate distractions, unforeseen work schedules, or even a decline in your internal audit team’s productivity. With that in Read More
The accounting woes of German digital payments company, Wirecard AG, appear to be deepening. The company said in a statement on Monday that there is a “prevailing likelihood” that the 1.9 billion euros ($2.15 billion) missing from its accounts had never existed in the first place. Wirecard first announced the Read More
GUEST BLOG The most recent macroeconomic developments have had a dramatic impact on global markets, forcing directors and management to demonstrate the capability to make very complex decisions in a timely and incisive fashion. Increasingly, the complexity of the economic environment reaffirms how important it is that the decision-making process Read More
The Justice Department published a revision to its document that guides its processes for evaluating corporate compliance in a criminal investigation last week. The revisions give internal audit some important guidelines for assessing the corporate compliance function. The guidance on Evaluation of Corporate Compliance Programs helps prosecutors ask companies the Read More
The Coronavirus Crisis has dramatically impacted all industries, as remote work and social distancing has become a requirement to keep employees and managers safe. The ramifications for internal audit have been big too and are likely to be long lasting. To talk about how internal audit leaders are dealing with Read More
Several internal audits planned this year for the Atlanta Public School system will not be completed because of the Coronavirus Crisis. In an annual report to the board, Connie Brown, the district’s executive director, said that six scheduled audits have been canceled. Five audits of unnamed schools would not be Read More
An internal audit of the Lancaster County Drug Task Force in Pennsylvania revealed that as much as $150,000 was missing from the drug task force headquarters. The funds, first found missing in April, were originally seized from less than a dozen drug arrests between 2017 and 2019. As the funds Read More
A new survey finds that while internal audit leaders have been involved in the planning for reopening their workplaces, as the threat from COVID-19 appears to lessen across the nation, many say their companies are behind on addressing several safety measures important to reopening their doors. The poll of 371 Read More
