Due to the coronavirus stay at home orders, conducting actual inventory counts that might be required by an internal audit can be very difficult. In many areas right now, we are likely unable to go out to a client location and physically observe inventory like we’ve done in the past. Read More
The Institute of Internal Auditors has released a new report to assist internal auditors in assessing their current level of preparedness regarding privacy and data protection issues. The first guide in a three-part series, “Privacy and Data Protection — Internal Audit’s Role in Establishing a Resilient Framework,” provides guidance on Read More
The Securities and Exchange Commission awarded a whistleblower “with compliance-related responsibilities” $450,000 for providing information that helped in a successful enforcement action. While the SEC didn’t name the whistleblower, the company involved, or provide his or her title—in keeping with its confidentiality protections—it did say in a statement that it Read More
As the global COVID-19 pandemic worsens, security firms and law enforcement, including the FBI, are warning of increasing phishing and other cybercriminal scams targeting a largely at-home workforce. Meanwhile, researchers also are finding that cyber-criminals are continuing to spoof organizations that are providing COVID-19 updates to the public. For example, Read More
The Securities and Exchange Commission announced that it is extending the filing periods covered by its previously enacted conditional reporting relief for certain public company filing obligations under the federal securities laws, and that it is also extending regulatory relief previously provided to funds and investment advisers whose operations may Read More
The 2020 Pulse of Internal Audit, a report released this week by the Institute of Internal Auditors reveals serious gaps in internal audit’s coverage, with audit plans deficient in key risk areas, including: Almost one-third of respondents did not include cybersecurity and information technology in their audit plans. More Read More
According to a new internal audit survey report, the percentage of women in internal audit leadership roles increased significantly over the last three years. A study of internal auditors found that 40 percent of chief audit executive respondents identified themselves as female, up from 33 percent of chief auditors who Read More
AuditBoard, a provider of cloud-based software for managing and automating risk, audit, and compliance work, has announced the release of a new risk management offering, RiskOversight. AuditBoard says the new product, an expansion of its platform, was built to elevate and execute risk management programs across the enterprise—including risk identification, Read More
The Securities and Exchange Commission has announced that Ohio-based pharmaceutical company Cardinal Health has agreed to pay more than $8 million to resolve charges that it violated the books and records and internal accounting controls provisions of the Foreign Corrupt Practices Act (FCPA). According to the SEC’s order, Cardinal’s internal Read More
The Securities and Exchange Commission announced charges against alcohol producer Diageo plc for failing to disclose its knowledge of high-pressure sales tactics to ship excess products to distributors to meet internal sales targets at its North American distributors. Diageo has agreed to pay $5 million to settle the enforcement action. Read More
