Plug Power said it found accounting errors in results for 2018, 2019, and the first three quarters of 2020 and that it will restate earnings for those periods. The company, a maker of hydrogen fuel cells, had been flying high, with its stock up nearly 1,400 percent is just the Read More
A new book is calling for a faster and deeper transformation of the internal audit profession. The book, by Richard Chambers, president and CEO of the Institute of Internal Auditors, asserts that internal auditors must not only embrace change, but become a catalyst for transformation in order to be ready Read More
The Securities and Exchange Commission has announced the creation of a Climate and ESG Task Force in the Division of Enforcement. The task force will be led by Kelly L. Gibson, the Acting Deputy Director of Enforcement, who will oversee a Division-wide effort, with 22 members drawn from the SEC’s Read More
The Institute of Internal Auditors sent the Secretary of Defense a letter expressing “deep concern” over a proposal that would “effectively demolish” the U.S. Navy’s Internal Audit Service through a 70 percent budget reduction. The budget cut, proposed during the previous administration and currently under review, would “disproportionately divest crucial Read More
The results of an internal audit initiated by content streaming service Netflix to see how it was doing on the question of diversity in its original programming found some good news and some work to do. While the streaming service found that there has been progress in the representation of Read More
A high-quality internal audit function can have a huge influence on a business. “Actually, we have a dual role to play,” David Jardine, senior vice president, internal audit at BP plc noted recently. “We’re a custodian of value for shareholders and we’re here to hold management to account. We help Read More
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
