With most office workers still toiling from the confines of their home offices and kitchen tables, and some unhappy with their current circumstances, many organizations are concerned about the potential for a rise in fraud. Yesterday, to address that heightened risk, the Institute of Internal Auditors released the report A Read More
The Department of Justice and the Securities and Exchange Commission released the second edition of the Resource Guide to the Foreign Corrupt Practices Act on July 3, its first update in eight years. The resource guide details the government’s expectations for an internal control system, highlighting that it should “take Read More
The largest electric utility in Illinois, Commonwealth Edison Company (ComEd), has agreed to a $200 million settlement with the District Attorney’s Office of the Northern District of Illinois to resolve a bribery investigation. ComEd admitted to monetary payments and arranging jobs and subcontracts for associates of longtime Illinois house speaker, Read More
An internal audit found that the Louisville Metro Police did not properly monitor how the department spent overtime funds. The audit was ordered in 2018 by the city council of Louisville, Ky., after the police department acknowledged $1.2 million in abuse of overtime funds from December of 2016 to 2018. Read More
Universal Health Services has agreed to a settlement with the Department of Justice to pay $122 million for alleged false claims for behavioral health treatments that were unnecessary and failed to provide adequate care for patients admitted to UHS facilities. UHS, headquartered in Pennsylvania, owns and operates nearly 200 psychiatric Read More
P acific Gas and Electric Co. is establishing a chief audit officer role and making changes to the job profiles and responsibilities of those who oversee and manage risk at the San Francisco-based energy company. PG&E is expected to exit bankruptcy later this month, after a turbulent time in the Read More
A New York financial watchdog fined Deutsche Bank $150 million for its connections to Jeffrey Epstein and correspondent relationships with Dankse Estonia and FMBE Bank. The move is the first enforcement action of a regulator against a financial institution for dealings with Jeffrey Epstein, who was arrested last year under Read More
While organizations often rely on internal auditors to identify the characteristics of a hostile workplace and bring them to management’s attention, one internal audit chief stands accused of creating one. Last month, the city of Hartford, Conn.’s human resources director, Thulani LeGrier, recommended the firing of Hartford’s chief internal auditor, Read More
In a video, Richard Chambers, IIA president and CEO, highlighted the importance of effective communication to persuade organizations to listen and effect positive changes, even as working from home has made communication more difficult. Chambers pointed out that aggression and divisive fighting are not conducive to proper persuasion, and that Read More
Love and passion aren’t always the words that come to mind when talking about internal audit and accounting, but a new documentary Making It Balance: Will the Work Be Worth It explores just those aspects of the professions and discusses the very humanity behind the audit industry. The documentary, which Read More
