An internal audit of marketing practices at the U.S. unit of Korean electronics giant Samsung may have found some unsavory business practices. According to a report in the Wall Street Journal, Samsung abruptly laid off several marketing employees shortly after an internal audit report was released inside the company that Read More
GUEST BLOG One thing I know for certain … the times they are a-changin’ … and internal audit is no exception. I spent the last several months interviewing many chief audit executives (CAEs) from all over the world to gain a better understanding of the current state of internal audit. Read More
Writing for Inside Higher Ed, Ryan Craig, a managing director at University Ventures, an investment firm focused on the global higher education sector, provided an interesting take on the recent college admissions scandal that unfolded last week. His conclusion? University internal audit functions should be scouring the admissions process for Read More
Internal audits are great at identifying problematic or even fraudulent transactions, whether in audits of payables to third parties, travel and expense audits, or other assessments. But when an internal audit uncovers improper transactions, it’s often too late. The funds have already been spent and reversing that process is never Read More
After accusations of wage discrimination against Google for underpaying women for doing similar jobs that men were doing, the tech giant began conducting internal audits in 2012 to look for pay disparity between the genders and with other minority groups. But Google didn’t stop there. It also set up a Read More
GUEST BLOG POSTIt’s human nature to rush to judgment. We take the information we are presented with and fill in the gaps and unknowns with assumptions based on our experiences and intuition. This is how our brains are wired. Not only is it usually beneficial to make these kinds of Read More
Health care providers have some new guidance on adopting a solid internal control framework. The Committee of Sponsoring Organizations (COSO), along with advisory firm Crowe LLP and Common Spirit Health have published an updated version of its COSO Integrated Framework specifically for the health care provider industry. COSO says the Read More
Could a decades old management strategy that helped U.S. and European companies respond to the gains in quality made by Japanese manufacturers in the 1980s somehow help internal audit shops improve their game? The answer is yes, and not only can it improve internal audit, it can push the function Read More
The most recent skirmish in the ongoing battle between Lyft and Uber played out in the finance and internal audit executive offices of the ride sharing services. Today, Lyft announced in a blog post that it had hired away Michelle DeBella, who, until last month, had been global head of Read More
As part of its continued efforts to put a series of massive scandals behind it, Wells Fargo recently outlined some changes it has made to how the internal audit function is structured, including adopting a more centralized system of internal audit. The troubled bank also named a new chief audit Read More
