The ongoing COVID-19 pandemic has created a drain on organizational resources, including in internal audit departments, and unleashed new risks on a global basis. A recent survey finds that internal audit is addressing such challenges by increasing budgets and hiring additional auditors. The survey, conducted by AuditBoard, a cloud-based platform Read More
Legislators in Greece have floated an amendment to legislation that would require internal auditors to register with the Economic Chamber of Greece, a quasi-governmental agency that oversees the professions of economists, accountants, tax professionals, and others. The measure would give the Chamber a greater role in overseeing the internal audit Read More
The Securities and Exchange Commission appears to be making a new effort to pass rules that would require executives to pay back compensation that was obtained by hitting incentive goals that were later found to be false or inaccurate. The rule was included in the Dodd-Frank Wall Street Reform and Read More
The Chartered Institute of Internal Auditors has issued a new guide intended to help company audit committees make better use of their internal audit functions in “identifying, managing, and mitigating the risks and opportunities associated with climate change.” The guide, issued along with the British Standards Institution and titled “Harnessing Read More
The AICPA Auditing Standards Board issued a new Statement on Auditing Standards (SAS) that is intended to clarify its views on how auditors should determine which areas pose the most risks of material misstatement in an audit engagement. Statement on Auditing Standards (SAS) No. 145, Understanding the Entity and Its Read More
A new survey finds that many internal audit functions are not leveraging the latest technology to supercharge their internal audit activities. According to the report, from the Institute of Internal Auditors’ Internal Audit Foundation and Refinitiv, more than 50 percent of internal audit functions are not taking advantage of the Read More
An internal audit of the Washington Department of Fish and Wildlife conducted by the Office of the Washington State Auditor, found problems with communication, bullying, and internal accountability at the state agency, according to a publicly released audit report. The culture audit, however, which is the first of its kind Read More
A new internal audit finds that Fresno police officers continue to work second jobs on city time even after a previous internal audit brought such “moonlighting” problems to light. A six month internal audit review found that some officers exceeded the maximum 16 hours of outside work nine times. One Read More
The Institute of Internal Auditors has published a new guide to aid internal auditors in auditing business applications. It says the new guide will help internal auditors provide assurance and consulting services related to business applications. The practice guide also describes how to identify and assess the risks and standardized Read More
Regardless of the geographic location, industry, or type of organization or program, opportunities for corruption present significant risks. Approximately six billion people around the world live in a country with a serious corruption problem. Worldwide, corruption puts businesses and governments at risk and affects organizations, private individuals, and public officials. Read More
