The results of a new survey indicate that internal audit’s ongoing digital transformation could accelerate in 2021. The survey, conducted by AuditBoard and the Institute of Internal Auditors’ Internal Audit Foundation (IAF), finds that internal audit functions plan to increasingly adopt cloud-based software platforms. Nearly a quarter (22 percent) of Read More
The Institute of Internal Auditors is considering revisions to its International Professional Practice Framework (IPPF), which acts as a set of practice and conduct standards for the internal audit profession. As part of an ongoing process, and to continue to meet the demands of internal audit professionals and the expectations Read More
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
