Starting in April, a new regulation will require public companies and certain government owned business in Vietnam to conduct internal audits. Under a government decree (Decree 05/2019/NĐ-CP), which was issued last month, companies that are listed on a public stock exchange and those that are owned at least 50 percent Read More
The Securities and Exchange Commission has settled charges against four public companies for failing to maintain internal control over financial reporting (ICFR) for several annual reporting periods. Two of the charged companies also failed to complete the required evaluation of the effectiveness of ICFR for two consecutive annual reporting periods. Read More
It’s good to be an audit manager in Britain these days…very good! In fact, it’s so good that online jobs and recruiting site, Glassdoor, has named audit manager the best job in the United Kingdom in its annual 25 Best Jobs in the U.K. for 2019 survey. The title finished Read More
French data protection regulator CNIL has imposed a €50 million ($57 million) fine on tech giant Google for failing to comply with the EU’s General Data Protection Regulation (GDPR). The EU privacy law, which took effect last May, is among the most strict set of data privacy regulations in the Read More
Guest Blog PostThere’s been no shortage of criticism of the role of internal audit over the years. We’ve heard them all: Those who can’t do, audit; The department of “no;” Corporate America’s hall monitors; and many others. Some have had a tint of validity, but most demonstrate a fundamental misunderstanding Read More
It’s been well established that internal audit must seek to add value if it is to prove its worth in the organization. In the first article in this series, “Many Internal Audit Failures Stem from Misalignment with the Company Strategy,” I defined the Internal Audit Value Chain (IAVC) and its Read More
Editor’s Note: This is part four of a six-part series on the Internal Audit Value Chain, which can act as a blueprint for building a successful internal audit function. Click here for the other articles in the series. Quality is such an important aspect to achieving success in business that Read More
An internal investigation launched at the behest of the audit committee of USA Technologies, a cashless payments processor for vending machines, has found revenue recognition and other accounting problems. The company is working to remediate the problems and enhance internal controls and governance. The probe found that for some transactions Read More
Among the many things that may keep internal auditors up at night are cybersecurity, compliance, and data security and protection, according to a recent survey by the Chartered Institute of Internal Auditors. These top three concerns significantly outrank other risk categories like human resources, regulatory change, and digitalization, although, of Read More
Philippines President Rodrigo Duterte launched a tirade against the country’s Commission on Audit, which he claims is hampering the work of his administration. In a speech in Manila, Duterte, who is known for incendiary rhetoric, railed against state auditors in an expletive-filled rant. The Commission on Auditing, known as the Read More
