The Securities and Exchange Commission has received a dramatic increase in the number of whistleblower tips, likely due to the circumstances created by the coronavirus pandemic, including an increase in layoff and furloughs, and many employees working from home. According to Steven Peikin, co-director of the division of enforcement of Read More
An internal audit of the Lancaster County Drug Task Force in Pennsylvania revealed that as much as $150,000 was missing from the drug task force headquarters. The funds, first found missing in April, were originally seized from less than a dozen drug arrests between 2017 and 2019. As the funds Read More
A new survey finds that while internal audit leaders have been involved in the planning for reopening their workplaces, as the threat from COVID-19 appears to lessen across the nation, many say their companies are behind on addressing several safety measures important to reopening their doors. The poll of 371 Read More
A new survey finds that companies aren’t moving to advanced technologies in big numbers to address the difficult work of complying with the Sarbanes-Oxley Act (SOX). The survey also finds that nearly 20 years after SOX took effect, companies are spending more time and money to comply with the regulations. Read More
As companies look to reopen facilities and make accommodations for operating under the “new normal” of doing business during the coronavirus pandemic, internal audit leaders are assessing the risks and helping their organizations prepare to unlock the doors. Some are still just trying to get their bearings. “I’ve been through Read More
The Public Company Accounting Oversight Board released a new advisory report to provide information for auditors and audit committees about audits involving cryptoassets, such as Bitcoin and other digital currencies. The Spotlight document, Audits Involving Cryptoassets – Information for Auditors and Audit Committees, calls for a greater focus by some Read More
Risk appetite is a critical link between strategy and performance. In an effort to help executives and managers better understand and communication risk appetite, the Committee of Sponsoring Organizations (COSO) issued new guidance, on how organizations can promote risk appetite as an integral part of decision-making. The guidance, titled “Risk Read More
The Securities and Exchange Commission has settled charges against three former KPMG LLP audit partners for improperly sharing answers to internal training exams and for actions that attempted to impede an investigation into the misconduct. The SEC previously charged KPMG with violations connected to the exam sharing scandal, as well Read More
By now, it’s clear to most internal auditors and to those who follow the profession that internal audit is changing very rapidly. The strategies that have worked in the past will no longer be enough to carry out internal audit’s new mandate. Boards and senior management expect internal audit shops Read More
These are strange days. Many of us may feel like we are living out a dystopian movie as we walk around the neighborhood waving to neighbors, but knowing we can’t stop to chat and must keep at least six feet away. Grocery shopping has become an act of courage, and Read More
