Many internal audit shops include a rating or grade at the end of an audit report intended to summarize the findings and bring attention to the most important conclusions of the report. Ratings may be scored with a number—from one to five, for example; a color—often red, yellow, and green; Read More
A new study examines the biggest challenges impacting IT audit professionals as they navigate an evolving risk landscape in an era of digital transformation. The 2019 Global IT Audit Benchmarking Study is the eighth annual audit research project conducted by consulting firm Protiviti and ISACA, a professional association for IT Read More
A flash poll conducted by Baker Tilly Virchow Krause, LLP indicates 67% of respondents have been researching agile internal audit and are considering implementation. “In this disruptive age, risks are evolving bigger and faster, requiring increased responsiveness from organizations’ internal audit functions.” John Romano, partner in Baker Tilly’s risk advisory Read More
The Institute of Internal Auditors’ Core Principles for the Professional Practice of Internal Auditing, taken as a whole, characterize the effectiveness of the internal audit activity. The IIA has now released a new practice guide to help internal auditors further apply the principles in their work as auditors. According to Read More
It is difficult today to avoid news about allegations and subsequent investigations. First, it was a slew of high profile allegations about sexual misconduct—which continues. More recently, it’s about abuse of power in the government. And rarely a day goes by without some news of a financial fraud, bribery, or Read More
Boards are significantly overconfident when it comes to addressing the most difficult issues their companies face, party because they are underinformed on top risks, finds a new survey. According to the report, there is a gap between how board members view key risks and how executive management does, due to Read More
When the Securities and Exchange Commission announced last week that it was settling charges against printing and graphics company Quad/Graphics Inc., it cited multiple internal audit and compliance failures as contributing factors in securities law and bribery violations by the company. The Wisconsin-based digital and print marketing provider has agreed Read More
The Institute of Internal Auditors released a new Global Knowledge Brief, “Solving Key Challenges for the Smaller Audit Group—Plan, review processes, and utilize resources.” The report outlines how small audit departments can leverage their resources, improve flexibility, evaluate their processes, and gain better support from colleagues. It includes unique challenges Read More
Insurance company CNA has announced the appointment of Joyce Bellows as senior vice president, internal audit. In this role, Bellows will lead CNA’s internal audit risk management and investigations functions. She will report to CFO James Anderson. “Joyce’s experience in financial services and proven track record of providing independent and Read More
The Securities and Exchange Commission has announced that Herbalife Nutrition—a direct selling company with operations in over 90 countries— has agreed to pay $20 million to settle charges that it made false and misleading statements about its China business model in numerous U.S. regulatory filings over a six-year period. According Read More
