Despite global uncertainty, internal audit leaders believe their teams are well-positioned to weather the challenges presented by COVID-19 and help their organizations embrace digital transformation, according to a new report from Protiviti. Organizations whose internal audit functions had already implemented new technologies, tools, and methodologies before the onset of the Read More
Internal audit professional standards require each department to establish a risk-based internal audit plan. When focusing on the highest organizational risks, however, they are often likely to find a gap in the talents and skills needed to execute that plan. Although it may be tempting, ignoring risk-based audit projects when Read More
Amidst a wide range of challenges in 2020, including a global pandemic and social unrest, cybersecurity and data security risks remain top-of-mind for chief audit executives and audit committee members in Europe, the annual Risk in Focus survey from the Chartered Institute of Internal Auditors (IIA) finds. For the third Read More
The Securities and Exchange Commission and Fiat Chrysler Automobiles N.V., a London-based public company that sells vehicles through its Michigan-based subsidiary, agreed to settle charges that Fiat made misleading disclosures about an internal audit of its emissions control systems, according to a SEC press release. The SEC found that in Read More
The Securities and Exchange Commission has accused Evolution Lighting Technologies Inc. of committing accounting fraud and falsely inflating its reported revenues over a four-year period. The SEC announced the charges against the Connecticut-based company in a statement released this week. Four Revolution Lighting executives—CEO Robert LaPenta, former CFO James DePalma, Read More
What is that second phase of COVID-19 risk? How can risk management teams adapt to that world? Matt Kelly explains in this can’t-miss guide: DOWNLOAD NOW >>
New guidance from the U.S. Commodity Futures Trading Commission (CFTC) to its Division of Enforcement staff outlines factors to consider when evaluating companies’ compliance programs during enforcement investigations. The guidance reflects a principles-based approach that avoids prescribing specific guidelines for compliance program structures. The CFTC aims to encourage companies to Read More
Compliance officers are increasingly seeking technology solutions that improve their teams’ access to financial and operational data, and that provide risk monitoring and mitigation. Earlier this year, the U.S. Justice Department instructed prosecutors to evaluate data access and analysis at the companies they investigate. Recent settlement trends indicate that regulators Read More
There are few aspects of the chief audit executive (CAE) job that are more anxiety inducing than the executive session of a board or audit committee meeting. Audit leaders can often find themselves pulled in different directions, questioning their loyalties, and put in the precarious position of having to discuss Read More
Auditors at San Diego’s transportation and planning agency are accusing management of improperly making severance and sick time payments to employees, and failing to report the expenditures to the agency’s board of directors. The San Diego Association of Governments (SANDAG) Executive Director Hassan Ikhrata supervises an annual budget of nearly Read More
