An internal audit conducted by NASA’s Office of Inspector General’s Office of Audits found major problems with the aerospace agency’s Space Launch System (SLS), a program that is working on a rocket that could return NASA astronauts to the moon and eventually go to Mars.
South African power company Eskom suspended its head of internal audit, Molefi Nkhabu, as it investigates a series of suspicious transactions that he signed off on. According to a statement from the company, the questionable transactions “contain inferences or conclusions which had the effect of exonerating certain previous Eskom executives Read More
Two leaders of BDO’s Nonprofit & Education Advisory Services practice, Ken Eye and Andrea Wilson, recently provided a list of “top 10 challenges keeping internal auditors up at night, and possible remedies to help continue the critical work.”
Internal auditors, compliance officers, and other “lines of defense” professionals are in unique positions to spot fraud and wrongdoing at the companies where they work. In most cases it is enough to report the problems to senior management or to the board of directors in situations where senior executives may Read More
(PHOTO: Commonwealth Bank Branch office, by Maksym Kozlenko, used under CC BY-SA 4.0, Wikimedia Commons) Still reeling from a series of scandals and failures, Australian internal auditors are demanding some changes that would give them more power to obtain information and more independence from management. According to a report in Read More
Good corporate governance doesn’t happen automatically, even when a great board and senior management are in place. Effective corporate governance is the result of several elements and functions coming together, including organizational policies, processes, and cross-functional interactions. And internal audit has an important job to do to ensure those elements Read More
Please consider making a donation to the Red Cross. We will for the next days, focus on what we can do to help out. We value our global audience, and appreciate your efforts to help our internal audit friends in the Carolina area. Go here to help out: Click Here Read More
Editor’s Note: This is part three of a six-part series we are doing 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. There are few efforts company leaders love more than Read More
A new report from the U.S. General Accounting Office examines the causes of the massive 2017 data breach by Equifax that compromised the personal data of more than 148 million Americans. The report contributes the debacle to the company’s failure to use common cybersecurity best practices, poor internal controls, and Read More
A new report out from the Institute of Internal Auditors’ research arm provides some needed insight on how internal audit can better align itself with the rapidly changing strategic direction of the company. The research, conducted by the IIA’s Internal Audit Foundation, finds that while internal audit has made some Read More
