The Public Company Accounting Oversight Board (PCAOB) announced that it has censured Friedman LLC, a New York-based accounting firm, and imposed a $100,000 civil penalty for the firm’s failure to reasonably supervise two unregistered Chinese affiliate firms in audits of 12 different public companies with operations in China. Friedman consented Read More
The LSU Center for Internal Auditing, a university-based internal audit education program, is expanding to include a greater focus on cybersecurity risk and environmental, social, and governance (ESG) issues. In recognition of these changes, the program has been renamed the LSU Center for Internal Auditing & Cybersecurity Risk Management (LSUCIA&CRM). Read More
The Institute of Internal Auditors (IIA) inducted three of its members into its “Hall of Distinguished Audit Practitioners,” during its annual General Audit Management conference this week in Grapevine, Texas. “The IIA honored three individuals who have made significant contributions to the internal audit profession with induction to the American Read More
The internal audit profession faces stiff competition for talent, especially talent capable of addressing a broadening array of risks and well-versed in emerging technologies that can drive the function into the future, according to a recent survey. Protiviti’s 2023 Next-Generation Internal Audit Survey found that 43 percent of chief audit Read More
GUEST BLOG POST Assessing the level of any business risk is not nearly as simple as most appear to make it. Just look at any risk register or heat map (or “risk profile” in COSO language, which is the same thing) and you will see a single point for each Read More
The Institute of Internal Auditors (IIA) released a draft on proposed changes to the International Professional Practices Framework (IPPF) for public comment, with focus on the International Standards for the Professional Practice of Internal Auditing. The 90-day public comment period opens today and runs through May 30. The public comment Read More
What is the fastest-growing challenge facing accounting firms and internal audit departments today? More than 90 percent point to hiring and retaining skilled accountants and auditors. Some are even turning away business due to a shortage of staff. That’s the finding of two newly released reports by leading software provider Read More
In a “special issue” of its Global Perspectives and Insights newsletter the Institute of Internal Auditors provided an early view of the changes it is considering to its professional practice standards, which govern how it expects its members to act as they conduct their work as internal auditors. In 2020, Read More
The San Diego Association of Governments’ internal auditor, whose damning reports have exposed major policy problems and drawn scrutiny on current leadership, is retiring—and she may be the agency’s last in-house watchdog. SANDAG board leaders are considering replacing Independent Performance Auditor Mary Khoshmashrab with outside consultants when she leaves later Read More
According to history, our cave-dwelling predecessors, the Neanderthals, went extinct for a reason–they couldn’t adapt to their changing environment. Maybe they wanted to, but they couldn’t and unfortunately, they didn’t. Eventually, they were replaced by us humans, of course, who were better able to adapt to changing weather, hunting patterns, Read More
