The Institute of Internal Auditors (IIA) a professional association for internal auditors, has announced upcoming changes to its continuing professional education (CPE) reporting policy. In a statement, the IIA says the changes, which were approved by the IIA’s Professional Certification’s Board (PCB), were made to “ensure internal auditors are regularly Read More
Mattel has agreed to a cease-and-desist order and will pay a $3.5 million civil penalty to settle charges brought by the Securities and Exchange Commission relating to misstatements the U.S. multinational toy company made in its third and fourth quarter 2017 financial statements. The SEC separately has initiated litigation against Read More
The Institute of Internal Auditors has announced its “2022 Emerging Leaders” — a group of young professionals who were nominated as innovators, collaborators, and professional accelerators in the internal audit profession. “The contributions and achievements of this year’s recipients are diverse and impressive. Many of these young professionals have transformed Read More
The Public Company Accounting Oversight Board (PCAOB) has fined four audit firms for failing to file Form APs and, thus, failing to disclose who led specific audits for the firm and whether any other firms were involved in those audits. Failure to file Form APs in a timely manner is Read More
A new series of reports takes a close look at the internal audit profession in a post-COVID world, where many employees continue to work remotely, many organizations are still limiting travel, and new technologies have been developed to improve remote internal auditing. The reports, published in three parts by the Read More
The top U.S. audit regulator has signed an agreement with China that marks the first step toward gaining access to complete inspections and investigations of public accounting firms headquartered in mainland China and Hong Kong. The Public Company Accounting Oversight Board inspects and investigates public accounting firms in more than Read More
Internal auditors are getting bullied and sanctioned when they present uncomfortable findings to management and the recent Star Casino money launderingcase is just one example, according to a survey by the Australian chapter of the Institute of Internal Auditors. One in seven internal auditors – 14 per cent – said Read More
The U.K. Financial Reporting Council announced July 18 it has imposed financial and non-financial sanctions, as well as a “severe reprimand,” against Grant Thornton UK and a former audit partner of the firm for failures during 2016 and 2018 audits of the financial statements of British retail company Sports Direct Read More
The University of Missouri says that an internal audit has led to the discovery of stolen funds and financial mismanagement, as well as employee terminations at the college. The internal audit was initiated following allegations of financial mismanagement in the College of Engineering. As a result of information uncovered during Read More
Cyberattacks are among the most debilitating events that companies and other organizations can experience, and internal auditors and risk managers consistently rank them among the biggest risks to the business. They know that how companies respond and react to such attacks can be the difference between a small blip and Read More
