The Federal Deposit Insurance Corporation (FDIC) has announced a $335 million settlement with PricewaterhouseCoopers to resolve professional negligence claims arising out of audits PwC conducted of the failed Colonial Bank, located in Alabama. On December 28, 2017, the United States District Court for the Middle District of Alabama held PwC Read More
The Institute of Internal Auditors has released a new guide to help internal auditors assess the risk management process, one of the fundamental audits that internal audit must conduct. The IIA says the latest practice guide will help chief audit executives navigate an evolving risk management environment and deliver on Read More
After accusations of wage discrimination against Google for underpaying women for doing similar jobs that men were doing, the tech giant began conducting internal audits in 2012 to look for pay disparity between the genders and with other minority groups. But Google didn’t stop there. It also set up a Read More
GUEST BLOG POSTIt’s human nature to rush to judgment. We take the information we are presented with and fill in the gaps and unknowns with assumptions based on our experiences and intuition. This is how our brains are wired. Not only is it usually beneficial to make these kinds of Read More
Health care providers have some new guidance on adopting a solid internal control framework. The Committee of Sponsoring Organizations (COSO), along with advisory firm Crowe LLP and Common Spirit Health have published an updated version of its COSO Integrated Framework specifically for the health care provider industry. COSO says the Read More
Global consulting firm Protiviti has expanded its member firm network to South Africa. The provider of internal audit services announced today that it has added SekelaXabiso CA (SkX) as its newest member firm. SkX is one of the largest internal audit and risk consulting firms in South Africa with more Read More
A seminal guide for structuring internal audit and carrying out internal audits is getting a refresh. First published in 1973, Sawyer’s Guide for Internal Auditors emphasizes the philosophy that internal auditors should watch for emerging trends. In this significantly revamped update, Sawyer’s Internal Auditing: Enhancing and Protecting Organizational Value, 7th Read More
Nearly two-thirds of corporate controllers feel pressure to “cook the books,” according to a new international survey, and many of them feel that misrepresenting their company’s performance is just part of their job. The survey, by FloQast, a provider of close management software for corporate accounting departments, found that 64 Read More
Could a decades old management strategy that helped U.S. and European companies respond to the gains in quality made by Japanese manufacturers in the 1980s somehow help internal audit shops improve their game? The answer is yes, and not only can it improve internal audit, it can push the function Read More
The most recent skirmish in the ongoing battle between Lyft and Uber played out in the finance and internal audit executive offices of the ride sharing services. Today, Lyft announced in a blog post that it had hired away Michelle DeBella, who, until last month, had been global head of Read More
