The building blocks of reliable, comparable and relevant environmental, social, and governance (ESG) information begin with a foundation of quality reporting by company management. Now companies have a new resource to improve ESG reporting. The American Institute of CPAs and Center for Audit Quality teamed up to provide audit practitioners Read More
If the COVID-19 pandemic has highlighted anything in corporate America, it is that the need for good governance structures is vital to effectively navigating these trying times. So how good are governance practices at major American companies? Not terrible, but not great either, says a new report from the Institute Read More
The Institute of Internal Auditors has named Anthony Pugliese as the association’s new president and CEO, succeeding Richard Chambers in the role he has held since 2009. Pugliese will take over the job at the end of March. Pugliese most recently was CEO of the California Society of CPAs, the Read More
The Reserve Bank of India called on India-based banks to align their internal audit functions with international best practices, such as those issued by the Basel Committee on Banking Supervision (BCBS). According to a 2002 guidance note, India banks are required to put in place a risk-based internal audit system Read More
The Securities and Exchange Commission has awarded more than $300,000 to an internal auditor whistleblower. The SEC said the individual’s “high-quality information and continuing assistance” significantly contributed to a successful enforcement action, earning the whistleblower award. The agency did not reveal the identity of the whistleblower or the company that Read More
General Electric Co. has struck a deal with the Securities and Exchange Commission to pay a $200 million penalty to settle charges for disclosure failures in its power and insurance businesses in financial reports filed in 2017 and 2018. According to the SEC’s order, GE misled investors by describing its Read More
The Securities and Exchange Commission has settled charges against The Cheesecake Factory for making misleading disclosures about the impact of the COVID-19 pandemic on its business operations and financial condition. The action is the SEC’s first charging a public company for misleading investors about the financial effects of the pandemic. Read More
A former internal auditor at NJ Transit claims in an email sent to state and federal officials this week that the agency has slipshod controls that have allowed fraud to take place, lacks transparency for internal investigations, and has no established standards for bus maintenance. “As a NJT Internal Audit Read More
The Securities and Exchange Commission voted this week to adopt amendments that will modernize, simplify, and enhance certain financial disclosures, including the Management’s Discussion and Analysis requirement. The changes are intended to enhance the focus of financial disclosures on material information for the benefit of investors, while simplifying compliance efforts Read More
According to new survey findings, risks will continue to be largely unpredictable in 2021, and the shift to remote work wont be ending anytime soon. The survey results, released by software platform AuditBoard, find that the risk landscape will continue to greatly fluctuate next year rather than returning to more Read More
