Daniel Yao Domelevo, the Auditor General of the African nation of Ghana, called for greater independence for internal auditors to help end corruption in the country. He said internal auditors were the custodians of accountability, yet were weakened by “employer dominance and political interference,” and must be granted full independence Read More
The Securities and Exchange Commission has announced that Ohio-based pharmaceutical company Cardinal Health has agreed to pay more than $8 million to resolve charges that it violated the books and records and internal accounting controls provisions of the Foreign Corrupt Practices Act (FCPA). According to the SEC’s order, Cardinal’s internal Read More
Targeted ransomware attacks against companies and government agencies are likely to surge in the coming months as ransomware-as-a-service continues to evolve into a lucrative model for cybercriminals, security experts warned at the 2020 RSA conference. The spike in demand for ransomware-as-a-service tools in underground forums, coupled with the anonymity offered Read More
The Securities and Exchange Commission announced charges against alcohol producer Diageo plc for failing to disclose its knowledge of high-pressure sales tactics to ship excess products to distributors to meet internal sales targets at its North American distributors. Diageo has agreed to pay $5 million to settle the enforcement action. Read More
An internal University of California audit released Friday found systemwide flaws with tracking athletes, artists and students who don’t meet minimum admission requirements. The 2019 athletics admissions scandal prompted the audit, which was intended to ensure the admissions process has measures to prevent third-party influences, according to the report. In Read More
Tucked inside the Trump Administration’s $4.8 Trillion budget proposal for fiscal year 2021, released last week, is a plan that has caught the eye of Big Four auditors and internal auditors as well: The White House has proposed to merge the Public Company Accounting Oversight Board into the Securities and Read More
GUEST BLOG Nearly every internal auditor has a few stories to tell about audits that have gone off the rails. Most have encountered audit clients that can run the gamut from guarded, to uncooperative, to out-right hostile. Breaking through these difficult working environments and putting audit clients at ease is Read More
SPONSORED ARTICLE Insurance company Allstate may be known for its chaos-causing spokesperson, but the way the business operates is anything but mayhem. The insurer has enjoyed decades of steady growth and is considered a leader in categories across the board. Allstate’s internal audit department is no exception and has long Read More
Cyrptocurrencies, like Bitcoin and Ethereum, have their supporters and their naysayers. No matter what you think about the usefulness of these virtual currencies, however, their emergence has given rise to an underlying technology that nearly everyone agrees will be invaluable to the future of finance and accounting: Blockchain. While blockchain Read More
Olympic Medical Center’s Chief Medical Officer Scott Kennedy, MD, recognized seven internal audit team members at a recent board of commissioners meeting for their performance in conducting internal audits. Olympic Medical Center, based in Port Angeles, Washington, operates a group of more than a dozen medical facilities in the state Read More
