Hertz Global Holdings has agreed to pay $16 million in fines to settle charges by the Securities and Exchange Commission over accounting errors at the rental car giant that led to financial misstatements. According to the SEC filing, from February 2012 to March 2014 Hertz’s public filings “materially misstated pre-tax Read More
The Chartered Institute of Internal Auditors, a professional association for internal auditors in the United Kingdom and Ireland, announced the winners of its Audit and Risk Awards 2018 this week. The awards recognize excellence in internal audit, including innovation and leaders in certain sectors. “As in previous years, the excellent Read More
The Institute of Chartered Accountants of India (ICAI) has released a new set of professional standards on conducting internal audits that are intended to provide guidance to its members on issues that may emerge during the course of the audit process. The standards, titled “Basic Principles of Internal Audit” and Read More
The Department of Defense announced preliminary results of its first ever comprehensive audit earlier this month. It is likely the largest audit of any organization, public or private, ever conducted. The first Defense Department-wide audit covered $2.7 trillion in assets and $2.6 trillion in liabilities for fiscal year 2018, the Read More
The 2018 fiscal year was an active one for the Securities and Exchange Commission’s Whistleblower program. In fact, the agency received more tips and paid out more in rewards than in any year since the SEC Whistleblower Office opened its doors in 2011. In its 2018 annual report to Congress, Read More
A new report is giving many global companies poor marks for their performance on protecting human rights. The study, conducted by the U.K. non-profit organization Corporate Human Rights Benchmark (CHRB), finds that 40 percent of the 101 large companies it reviewed failed to show evidence of identifying or mitigating human Read More
The Securities and Exchange Commission pursued an increased number of enforcement actions in fiscal year 2018 and fined companies and individuals nearly $4 billion in the same period. The SEC said in its annual report that total enforcement actions totaled 821, up 9 percent from 754 in fiscal 2017. Meanwhile, Read More
The Institute of Internal Auditors has issued a new practice guide to help audit third-party risk management. This latest practice guide informs chief audit executives and their audit teams on how to understand and assess risks related to the use of third-party providers. Risks related to vendors, suppliers, resellers, and Read More
A new survey of chief audit executives in the United Kingdom finds that more than one in three organizations has yet to do any Brexit scenario planning, despite the impending deadline for the U.K. to leave the EU. According to the Brexit Preparedness Survey, conducted by the Chartered Institute of Read More
The Securities and Exchange Commission has issued an investigative report urging public companies to consider cyber-threats when implementing internal accounting controls.
