Former KPMG partner, David Middendorf, was sentenced this week to a year and a day in prison for his role in a fraudulent scheme to acquire a regulator’s confidential plans in an attempt to get a leg up on audit firm inspections. The ex-KPMG exec was also sentenced to three Read More
Christina Murray, chief internal audit and global compliance at Nissan Motor Corp., resigned abruptly last week, after leading an investigation into improper compensation practices and other wrongdoing at the automaker. Reports indicate that Murray resigned in frustration when the results of the investigation led to the ouster of only a Read More
Ever wonder why incidents of fraud, wrongdoing, and other calamities in various forms continue at organizations year after year, decade after decade, and even seem to be increasing in frequency? Inevitably, after such crises someone asks, “Where were the auditors?” As much as I hate to admit it, the answer Read More
A new survey of top business risks, as identified by chief internal auditors in Europe, has found that companies there are most concerned about cybersecurity and data security, increased regulation, and disruptive technology. The survey of 528 chief internal auditors conducted by a group of eight internal audit professional associations Read More
Look over any list of big-company chief audit executives, and you will see several that also have the title of chief compliance officer, head of risk management, and other roles. With so much responsibility already residing with those who oversee internal audit, it’s a wonder they have time for anything Read More
The SOX & Internal Controls Professionals Group today released the findings of its “ 2019 State of the SOX and Internal Controls Market Survey.” The survey, which was conducted in partnership with Workiva, measures the costs, execution, challenges and priorities faced by companies that comply with the Sarbanes-Oxley Act (SOX). Read More
GUEST BLOG Compliance officers and internal auditors are natural partners and allies in the compliance governance landscape. As the compliance profession and its influence grew, compliance officers often leaned on internal auditors for help in assessing risks, uncovering financial misconduct, and assessing compliance functions and controls. Recently, however, I have Read More
The board of the Federal Deposit Corp. voted to approve changes to the Volcker Rule, which could ease some restrictions under the regulations and provide more clarity on what types of trades are and are not permitted. The Volcker Rule, which is part of the Dodd-Frank Act, generally prohibits banks Read More
Businesses today cannot be separated from their digital assets. Data drives every aspect of business, from strategic decisions to tactical operations, and all that data is stored in, accessed by, and transmitted across networked systems. Keeping cyber risks under control is a critical issue for any company. Even small, non-tech-oriented Read More
More than $8 million in construction cost increases tied to the El Paso Independent School District’s 2016 bond program did not go before the board for approval as required, according to a new internal audit report. As a result, auditors warn final costs are likely to exceed the figures the school board Read More
