The American Institute of CPAs and the Center for Audit Quality submitted comments to the Securities and Exchange Commission expressing support for improved climate change disclosures by companies. The SEC requested input regarding expanded climate change disclosure requirements in a public letter in March. The SEC is ramping up its Read More
Democrats in the Senate have called on Google, and its parent company Alphabet, to conduct an internal audit on racial equity. The goal of the requested audit, according to Sen. Corey Booker (D-N.J.), would be to investigate how Google and its products may perpetuate racial bias. “We are concerned about Read More
According to an audit from the Secretary of State, Oregon’s books show the state incorrectly counted billions of dollars in federal funding in 2020, a state government news organization the Center Square reported last week. A total of 14 federal programs incorrectly accounted for $6.4 billion in funds. While the Read More
Laura Soileau, the Institute of Internal Auditor’s (IIA) 2021-2022 North American Board chairperson, said in an article that getting younger individuals hooked on internal auditing is key to the sustainability of the profession. A big focus of Soileau’s in her new role will be investing in the next generation of Read More
Due to inflationary pressures, COVID-19 impacts, and acquisitions and divestitures, external audit fees are expected to increase at many organizations this year, a new survey finds. While the survey, conducted by Gartner, found that 62 percent of companies said they expect their external audit fees to increase this year, it Read More
The Massachusetts Office of State Auditor (OSA) released an audit showing improvements in oversight of lottery sales and game integrity at the Massachusetts State Lottery Commission (MSLC), television news station WWLP reported. The audit, which studied April 2019 through March 2020, found deficiencies in criminal background record checks for lottery Read More
On Friday, the Securities and Exchange Commission announced the removal William Duhnke from the Public Company Accounting Oversight Board (PCAOB) without providing a reason for his dismissal in the official press release. The PCAOB regulates audits conducted on publicly traded companies. Board member Duane DesParte will serve as the acting Read More
With a large potential payout on the horizon for the Commodity Futures Trading Commission (CFTC), the Senate reached a bipartisan agreement to pass a bill that temporarily creates a separate account to pay for the agency’s whistleblower program, the Wall Street Journal reported. “The CFTC whistleblower program has become far Read More
Investors and regulators are pushing for more comprehensive and uniform reporting on environmental, social, and governance (ESG) efforts. Some organizations are even tying incentive compensation metrics to ESG goals. In March, the Securities and Exchange Commission said it would be looking more closely at ESG disclosures and also announced the Read More
Supporting greater attention on the important issue of sustainability, The Institute of Internal Auditors (IIA) delivered a message to U.S. Securities and Exchange Commission Chair Gary Gensler last week, encouraging uniform climate disclosure by corporations and recognition of the role internal audit plays in providing assurance around complete, accurate, and Read More
