The professional association for internal auditors in the United Kingdom and Ireland has issued a draft version today of a new “Code of Practice” that is says will promote more extensive access for internal auditors. The draft, issued by the Chartered Institute of Internal Auditors, is intended to strengthen corporate Read More
The Securities and Exchange Commission filed insider trading charges against Martha Patricia Bustos, a former accountant at Illumina Inc. and a certified public accountant, and her close friend, Donald Blakstad, whom Bustos allegedly illegally tipped with confidential information in advance of her company’s quarterly performance announcements. The alleged insider trading Read More
GUEST BLOG Over the years, Big Four audit and consulting firm PwC has provided great value through their annual commentaries and reports on internal auditing. However, in their 2019 State of the Internal Audit Profession Study, they are advising internal auditors to adopt approaches and practices with which I disagree. Read More
Internal auditors have always had a role to play in the detection and prevention of fraud. A recent paper from the Institute of Internal Auditors (IIA) looks to shed some more light on just what that role is and how internal audit teams can do a better job at fighting Read More
GUEST BLOG Choosing the right Governance, Risk, and Compliance (GRC) tool can be a daunting task. There are several software solutions that can help companies leverage technology to increase their GRC capabilities and efficiencies. Certainly, in this age of doing more with less, a comprehensive GRC solution is increasingly a Read More
After a study found that nearly one-in-five internal auditors in South Africa said they would not feel safe if they exposed questionable activities to law enforcement agencies, some internal audit leaders and others are calling on the state to do more to protect internal auditors, in both the public and Read More
A new academic research study indicates that companies with women serving as chief financial officers are significantly less likely to misreport financial results. The study, by three professors from the University of Alabama, a professor from the University of Missouri, and one from St. Louis University used a “financial statement Read More
Ever since the Sarbanes-Oxley Act passed in 2002, compliance with the law, known as “SOX,” has been a bit of a thorn in the side of many companies. In earlier years, companies spent millions of dollars and hundreds of employee-hours each to ensure the sophisticated controls over financial reporting that Read More
GUEST BLOG My journey into the internal audit profession has had many twists and turns, but along the way I’ve learned a great deal and improved, not just as a professional, but also as a person. As an advocate for the internal audit profession, I’ve encouraged young people to pursue Read More
Ten things that internal audit can do when working with compliance to leverage the qualities of both functions There has been plenty written about the relationship between internal audit and compliance—from analyzing functional differences to advocating integration between the two. This continued discussion is mainly because the two functions have Read More
