The Securities and Exchange Commission has awarded more than $500,000 to a whistleblower who raised concerns internally before submitting a tip to the Commission. The whistleblower’s information and assistance allowed the Commission and another agency to quickly file actions, shutting down an ongoing fraudulent scheme. The whistleblower’s information prompted an Read More
The Institute of Internal Auditors is considering revisions to its International Professional Practice Framework (IPPF), which acts as a set of practice and conduct standards for the internal audit profession. As part of an ongoing process, and to continue to meet the demands of internal audit professionals and the expectations Read More
With internal auditors increasingly pressured to boost the value they bring to their organizations, some are asking whether artificial intelligence (AI) may help them meet this goal. Artificial intelligence, which leverages algorithms to identify and understand patterns and anomalies within data sets, can help internal auditors more efficiently identify areas Read More
Plug Power said it found accounting errors in results for 2018, 2019, and the first three quarters of 2020 and that it will restate earnings for those periods. The company, a maker of hydrogen fuel cells, had been flying high, with its stock up nearly 1,400 percent is just the Read More
As the vaccination effort continues and hope is spreading that we might be nearing the end of the COVID-19 pandemic, it’s still too early to assess the long-term impact the past year of crisis will have on daily life, the economy, and—as it relates here—the internal audit profession. Now, a Read More
A new book is calling for a faster and deeper transformation of the internal audit profession. The book, by Richard Chambers, president and CEO of the Institute of Internal Auditors, asserts that internal auditors must not only embrace change, but become a catalyst for transformation in order to be ready Read More
Most internal audit functions spend somewhere between 80 and 100 percent of their time doing traditional internal audits, generally known as “assurance work.” Yet, many also do some level of advisory work, and aspire to do more. Many chief audit executives fret over how to allocate internal audit’s limited resources Read More
The Securities and Exchange Commission has announced the creation of a Climate and ESG Task Force in the Division of Enforcement. The task force will be led by Kelly L. Gibson, the Acting Deputy Director of Enforcement, who will oversee a Division-wide effort, with 22 members drawn from the SEC’s Read More
The Institute of Internal Auditors sent the Secretary of Defense a letter expressing “deep concern” over a proposal that would “effectively demolish” the U.S. Navy’s Internal Audit Service through a 70 percent budget reduction. The budget cut, proposed during the previous administration and currently under review, would “disproportionately divest crucial Read More
At the start of last year, no one could possibly have predicted how 2020 would play out, and how we all, individuals and organizations alike, would be dealing with one of the most disruptive forces to arise in most of our lifetimes. It’s a safe bet that “pandemic” wasn’t on Read More
