Alexandra was a young manager in a small audit department of a manufacturing company. Her department was facing time-management issues, as the audit engagements could not adhere to the timeframes included in the annual audit plan, which had been developed in line with the Institute of Internal Auditor’s International Professional Read More
Security pros know that compliance does not equal security, yet compliance continues to be a top driver for security investment. Given that compliance and audit mandates are more tangible measures for non-security executives, requesting support for tools and processes that help meet these requirements is an excellent lever to pull Read More
The Institute of Internal Auditors’ Internal Audit Foundation has issued a new guide on data analysis and sampling. It says the guide, Data Analysis and Sampling Simplified: A Practical Guide for Internal Auditors, is designed to live on the desks of internal auditors, not on the bookshelves. “In short, this Read More
A professor at the University of Pennsylvania’s Wharton School is warning that the Securities and Exchange Commission’s proposal to exempt smaller companies from having to comply with a key provision of the Sarbanes Oxley Act (SOX) could do more harm than good. The SEC proposed in May to exempt relatively Read More
A Massachusetts Department of Transportation project manager responsible for auditing the state’s Merit Rating Board told lawmakers during testimony this week that she had flagged thousands of unprocessed out-of-state traffic violations in her preliminary audit findings in April. Brie-Anne Dwyer, who testified before the Joint Committee on Transportation on Tuesday, Read More
A former CVS employee has pleaded guilty to fraud after an internal audit, triggered by suspicious activity, uncovered a $2.5 million scam to resell stolen merchandise, the U.S. Attorney’s Office for the Western District of New York announced last week. The perpetrator, Antonio Rivera of Williamsville, NY, was employed Read More
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
