If the Tazewell County Board wins in its quest to replace the elected auditor position with a hired internal auditor it could spend much more than it is spending now for the elected position. But the Illinois county hopes to add more experience and skill with a credentialed internal auditor. Read More
KPMG’s audit work in the United Kingdom is of an unacceptable standard, Britain’s accounting regulator said, fueling calls to reform the industry, including dismantling Big Four firms. In an unprecedented assessment, the Financial Reporting Council said auditors at KPMG don’t challenge management enough, aren’t sufficiently skeptical, and are inconsistent in Read More
The additional professional judgment required by the new revenue recognition standard could expose companies to an increased level of fraud, given the inherent opportunity for bias created by a principles-based framework. The new standard moves companies away from a rules-based framework to a more principles-based approach as it relates to Read More
The global members of the Institute of Internal Auditors (IIA) have approved changes to the organization’s governance structure, reducing the number of members on its global board of directors to 17 from 38 and establishing a six-member supervisory committee. “With tremendous support from our more than 190,000 members worldwide, we Read More
A definitive guide to producing, using, and improving a risk heat map at your organization. A good risk assessment is an important part of the process of putting together a solid internal audit plan. But gathering risk information from throughout the company and organizing it into manageable and actionable material Read More
A new survey finds that corporate boards are expected to ask IT, IT audit, and other functions responsible for securing the company’s data and systems for more information on the effectiveness of cybersecurity programs. The survey, by Deloitte, found that 62.7 percent of C-suite and other executives expect board directors’ Read More
An internal audit has found some major accounting woes in the City of Brotherly Love. An audit report, released Tuesday by City Controller Rebecca Rhynhart, cites $924 million in accounting errors last year alone. The city is also missing $33 million from its main bank account, a discrepancy that came Read More
The global internal audit services market was valued at $33.6 billion in 2017. North America was the largest geographic region accounting for $12.3 billion or 36.7 percent of the global market. Of that, the United States was the largest country accounting for $9.9 billion or 29.4 percent of the global Read More
In this era of full employment companies are looking for an edge in holding on to top employees. Internal audit departments, in particular, are locked in a battle with peer companies for top talent, and most chief audit executives cite getting candidates with the right set of skills as one Read More
Yulia Gurman, director of internal audit and corporate security at Packaging Corporation of America, has spent more than 15 years honing her craft as an internal auditor, including stints at such companies as OfficeMax and Retail Properties of America. At PCA she is working to improve the use of advanced Read More
