Christina Murray, chief internal audit and global compliance at Nissan Motor Corp., resigned abruptly last week, after leading an investigation into improper compensation practices and other wrongdoing at the automaker. Reports indicate that Murray resigned in frustration when the results of the investigation led to the ouster of only a Read More
Ever wonder why incidents of fraud, wrongdoing, and other calamities in various forms continue at organizations year after year, decade after decade, and even seem to be increasing in frequency? Inevitably, after such crises someone asks, “Where were the auditors?” As much as I hate to admit it, the answer Read More
A new survey of top business risks, as identified by chief internal auditors in Europe, has found that companies there are most concerned about cybersecurity and data security, increased regulation, and disruptive technology. The survey of 528 chief internal auditors conducted by a group of eight internal audit professional associations Read More
Look over any list of big-company chief audit executives, and you will see several that also have the title of chief compliance officer, head of risk management, and other roles. With so much responsibility already residing with those who oversee internal audit, it’s a wonder they have time for anything Read More
As a high-level government auditor, Beth Kennedy has investigated or reviewed the spending of many city of Los Angeles departments without serious incident, she says. But now, Kennedy, a chief internal auditor for City Controller Ron Galperin, is alleging that she was warned not to delve too deeply into controversial Read More
The SOX & Internal Controls Professionals Group today released the findings of its “ 2019 State of the SOX and Internal Controls Market Survey.” The survey, which was conducted in partnership with Workiva, measures the costs, execution, challenges and priorities faced by companies that comply with the Sarbanes-Oxley Act (SOX). Read More
GUEST BLOG Compliance officers and internal auditors are natural partners and allies in the compliance governance landscape. As the compliance profession and its influence grew, compliance officers often leaned on internal auditors for help in assessing risks, uncovering financial misconduct, and assessing compliance functions and controls. Recently, however, I have Read More
An internal audit by the Gary, Indiana city audit staff revealed $13,000 in stolen funds from the city’s Genesis Convention Center, according to a statement by Gary’s mayor, Karen Freeman-Wilson released yesterday. The stolen funds were diverted from federal grant money to the convention center by an accountant working for Read More
The demand for internal auditors with financial services knowledge and experience is growing rapidly, propelled by regulatory pressures to appropriately staff internal audit programs with the right volume and caliber of professionals. This has led many internal audit activities within the highly regulated financial services industry to increase their staff Read More
The board of the Federal Deposit Corp. voted to approve changes to the Volcker Rule, which could ease some restrictions under the regulations and provide more clarity on what types of trades are and are not permitted. The Volcker Rule, which is part of the Dodd-Frank Act, generally prohibits banks Read More
