President Donald Trump signed an executive order that directs the Attorney General, Pam Bondi, to cease enforcement of the Foreign Corrupt Practices Act (FCPA) a law that prohibits American companies from bribing foreign officials. President Trumps said he believes that by issuing such an order, he will restore American competitiveness Read More
The Institute of Internal Auditors has released the Cybersecurity Topical Requirement, the first of several “Topical Requirements” to be published this year. Incorporating feedback from global practitioners and stakeholders, the Cybersecurity Topical Requirement provides a baseline approach to assessing the design and implementation of cybersecurity governance, risk management and control Read More
W ith the rise of AI and regulatory uncertainty, Chief Audit Executives (CAEs) are expected to face mounting pressure from the board to address emerging risks and strengthen mitigation efforts. According to Gartner, a technological research and consulting firm, as AI has emerged as both a valuable business asset and Read More
The Securities and Exchange Commission chairman, Gary Gensler, will step down from his position on January 20, 2025, the SEC announced on Thursday. The move will allow President Elect Trump to replace him at the start of his term. It had been widely expected that Trump would replace Gensler immediately. Read More
Canadian-based TD Bank will pay more than $3 billion in a historic settlement with U.S. authorities who said that the financial institution’s lax practices allowed significant money laundering over multiple years. The bank pleaded guilty to conspiracy to commit money laundering, the largest bank in U.S. history to do so, Read More
The Chartered Institute of Internal Auditors has issued its long-awaited new Internal Audit Code of Practice. The new Code is designed to “equip organizations with the tools to navigate today’s increasingly complex risk environment,” the organization said in a statement. The document sets a higher standard for internal audit practices Read More
The Institute of Internal Auditors has announced that Terry Grafenstine will serve as the new Chair of its global board of directors for the next two years. The IIA announced the news following its annual business meeting and 2024 International Conference, held in Washington, DC this week. Grafenstine has more Read More
The Securities and Exchange Commission charged Silvergate Capital, its former CEO Alan Lane, and former Chief Risk Officer Kathleen Fraher with misleading investors about the strength of the Bank Secrecy Act/Anti-Money Laundering (BSA/AML) compliance program and the monitoring of crypto customers, including FTX. The SEC also charged Silvergate and its Read More
In a landmark case, the Supreme Court has struck down the Securities and Exchange Commission’s authority to use in house-tribunals when seeking civil penalties against those accused of securities fraud. The Court, in the case of SEC v. Jarksey, ruled that when the SEC seeks civil penalties from defendants for Read More
Taking a holistic view in internal audit means understanding the entirety of a process from start to finish, including its various interconnections and implications. This approach involves thoroughly comprehending the activities involved, the individuals responsible, and the broader impact on the organization. By mapping out the complete beginning-to-end cycle of Read More
