P acific Gas and Electric Co. is establishing a chief audit officer role and making changes to the job profiles and responsibilities of those who oversee and manage risk at the San Francisco-based energy company. PG&E is expected to exit bankruptcy later this month, after a turbulent time in the Read More
GUEST BLOG Instituting and maintaining effective control systems is costly and challenging in even the best of times. Add in the instability that results from such difficulties as financial crises, regional political instability, pandemics, and others crises, and the costs and challenges are magnified. Effective control systems are costly because Read More
A New York financial watchdog fined Deutsche Bank $150 million for its connections to Jeffrey Epstein and correspondent relationships with Dankse Estonia and FMBE Bank. The move is the first enforcement action of a regulator against a financial institution for dealings with Jeffrey Epstein, who was arrested last year under Read More
While organizations often rely on internal auditors to identify the characteristics of a hostile workplace and bring them to management’s attention, one internal audit chief stands accused of creating one. Last month, the city of Hartford, Conn.’s human resources director, Thulani LeGrier, recommended the firing of Hartford’s chief internal auditor, Read More
Whether you opt for remote audits during the ongoing COVID-19 outbreak or for other reasons, there is no denying that there are some unique obstacles to overcome. Remote internal audit work may facilitate distractions, unforeseen work schedules, or even a decline in your internal audit team’s productivity. With that in Read More
elegram Group Inc. has settled with the Securities and Exchange Commission and will pay $18.5 million in civil penalties, as well as $1.22 billion back to investors, according to a news release. Telegram, a startup known for its encrypted messaging platform, sold $1.7 billion in digital tokens to investors world-wide, Read More
In a video, Richard Chambers, IIA president and CEO, highlighted the importance of effective communication to persuade organizations to listen and effect positive changes, even as working from home has made communication more difficult. Chambers pointed out that aggression and divisive fighting are not conducive to proper persuasion, and that Read More
Love and passion aren’t always the words that come to mind when talking about internal audit and accounting, but a new documentary Making It Balance: Will the Work Be Worth It explores just those aspects of the professions and discusses the very humanity behind the audit industry. The documentary, which Read More
An internal audit found that the City of Pasadena’s public safety departments had significant issues in their handling of petty cash and purchasing cards, but no illegal activity. The audit was recommended by auditor KPMG in 2014 to enforce “corrective actions to strengthen the City’s oversight of cash disbursements” and Read More
The coronavirus crisis has upended all areas of corporate America and its effects are likely to linger long after the pandemic has passed. A new study indicates that the internal audit profession is no exception and is undergoing some vast changes, due to the current crisis. According to a survey Read More
