The Securities and Exchange Commission charged Big Four firm Ernst & Young, one of its partners, and two of its former partners with improper professional conduct for violating auditor independence rules in trying to become the auditor of Sealed Air, a publicly held company with close to $5 billion in Read More
The Office of Inspector General and Department of Homeland Security found in an audit last week that the Science and Technology Directorate failed to adequately meet all internal purchase card policies and procedures. The Government Charge Card Abuse Prevention Act of 2012 requires the OIG to conduct an annual risk Read More
A federal judge in San Francisco dismissed charges against Big Four firm PwC, after a former employee had claimed the firm terminated him for blowing the whistle about conflicts of interest with audit clients. In November 2016, former PwC employee Mauro Botta went to the Securities and Exchange Commission with Read More
Activision Blizzard, one of America’s largest video game developers, has received widespread criticism from several employees and a lawsuit in California for what some call a “frat boy” workplace culture. Now its CEO is promising a full review and series of initiatives to address the problems. Employees at the video Read More
The Financial Reporting Council, Britain’s audit regulator, admonished KPMG once again for conducting poor audits. The FRC says the Big Four firm’s banking audits are not up to acceptable standards for the third year in a row. And KPMG isn’t alone as a target of the regulator’s criticism: Out of Read More
The Information Commissioner’s Office, the United Kingdom’s independent authority established to uphold information rights in the public interest, has released beta guidance on managing artificial intelligence and data protection risks. The guidance, which the ICO calls a “toolkit,” contains risk statements to help organizations that are using AI to process Read More
In the current business environment, senior management is asking some internal audit functions to do more work that resembles quality assurance. There are several reasons for this, but generally those reasons fall under the heading of business process disruption in one form or another. These may be disruptions to the Read More
Those who are practicing internal audit in the same way they were before the COVID-19 pandemic are in the minority, according to a new study. Between remote auditing, newly implemented technology, and a heightened focus on cybersecurity, internal audit has changed. Approximately 70 percent of auditors have had to change Read More
The Securities and Exchange Commission has released its 2021 “Agency Rule List” to give companies an idea of the regulations in its pipeline and when they can expect them to move forward. The list includes a schedule of proposed and final rules on such topics such as climate change disclosures, Read More
KPMG unveiled a new program, KPMG Impact, to provide its clients with assistance in improving performance and reporting in environmental, social, and governance areas. The new unit will help clients improve their ESG performance while also carrying out KPMG’s own ESG commitments. The program builds off efforts from last year, Read More
