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
A short while ago, I was talking to an internal audit manager whom I had been helping with her audit of enterprise risk management at her company. Not surprisingly, her team found a great many issues. Communicating her opinion, that the risk management team and related activities were not seen Read More
Are most internal audit reports the right length? For many consumers of audit reports in the executive suite and boardroom, the answer is probably that they’re “too long!” Audit reports may run to extraordinary lengths these days. For example, I recently talked to one organization where they could easily extend 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
One of the big outcomes of the last several months under the pandemic is that we have learned that work-from-anywhere models really do work. It’s always been a fallacy that workers are less productive from home—that they somehow are too sucked into watching The View, or too busy tending to 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
We all know that internal auditors play a unique and complex role at the organizations where they work. They must serve many constituencies and customers, including the operating units they audit, the board and senior managers they report to, not to mention fellow employees, consumers, regulators, and citizens at large Read More
