Facebook will pay a record-breaking $5 billion penalty, and submit to major new privacy restrictions and a modified corporate structure, to settle Federal Trade Commission charges that the company violated a 2012 FTC order by deceiving users about their ability to control the privacy of their personal information. The whopping Read More
GUEST BLOG Internal auditors are always on the lookout for people to emulate and to learn from. Here’s one to study: John C. (Jack) Bogle. Jack Bogle, the late founder of the mutual fund company Vanguard Group, has been an American investor, business magnate, financial innovator, and philanthropist, and is Read More
Equifax has agreed to pay at least $575 million, and potentially up to $700 million, as part of a global settlement with the Federal Trade Commission, the Consumer Financial Protection Bureau (CFPB), and 50 U.S. states and territories, which alleged that the credit reporting company’s failure to take reasonable steps Read More
Editor’s Note: This is the first in an occasional new series we are calling “Conversation Starter.” In each segment we will offer a brief take on a particular internal audit issue, along with a plea to you, our readers, to provide your own experiences and views in the comments section Read More
The IIA, in collaboration with the Internal Audit Foundation and Crowe, conducted a limited survey of IIA members to get a read on current understanding and preparedness around their role in adopting blockchain. The resulting report, Blockchain and Internal Audit, answers the question, “What steps, if any, should the profession Read More
The Institute of Internal Auditors (IIA), a professional association for internal auditors, honored former Global Chairmen Lawrence J. Harrington (2015-16) and Philip D. Tarling (2012-13) with the 2019 Victor Z. Brink Award for Distinguished Service. The award, annually recognizing individuals for their outstanding contributions to the internal audit profession and Read More
The professional association for internal auditors in the United Kingdom and Ireland has issued a draft version today of a new “Code of Practice” that is says will promote more extensive access for internal auditors. The draft, issued by the Chartered Institute of Internal Auditors, is intended to strengthen corporate Read More
The Securities and Exchange Commission filed insider trading charges against Martha Patricia Bustos, a former accountant at Illumina Inc. and a certified public accountant, and her close friend, Donald Blakstad, whom Bustos allegedly illegally tipped with confidential information in advance of her company’s quarterly performance announcements. The alleged insider trading Read More
GUEST BLOG Over the years, Big Four audit and consulting firm PwC has provided great value through their annual commentaries and reports on internal auditing. However, in their 2019 State of the Internal Audit Profession Study, they are advising internal auditors to adopt approaches and practices with which I disagree. Read More
Internal auditors have always had a role to play in the detection and prevention of fraud. A recent paper from the Institute of Internal Auditors (IIA) looks to shed some more light on just what that role is and how internal audit teams can do a better job at fighting Read More
