A bleak analysis of the Denver Regional Transportation District’s (RTD) internal audit division was shared earlier this month with RTD’s board, which pledged to make immediate changes. The report, conducted as a peer review by the American Public Transportation Association (APTA), did not pull punches. The report listed 17 Read More
President Biden signed an executive order Wednesday aimed at hardening the federal government’s cybersecurity defenses, as his administration tackles a slew of overlapping cyber hacks, including a ransomware attack on a major fuel artery that has caused gas shortages in at least seven states across the Southeast. The executive order Read More
AuditBoard, a cloud-based platform for managing audit, risk, and compliance programs, announced that it is partnering with former president and CEO of the Institute of Internal Auditors, Richard Chambers. He will hold the role of senior internal audit advisor at AuditBoard. “This relationship establishes a dynamic pairing of two industry Read More
The Securities and Exchange Commission has charged sports apparel manufacturer Under Armour Inc. with misleading investors as to the bases of its revenue growth and failing to disclose known uncertainties concerning its future revenue prospects. Under Armour has agreed to pay $9 million to settle the action. According to the Read More
The D.C. Housing Authority’s former internal auditor resigned after she says she faced retaliation and intimidation from agency heads over an audit that found $1.3 million in wasted funds. In deposition testimony, the former director of DCHA’s internal audit office, Joanne Wallington, says DCHA Director Tyrone Garrett, chief operating officer Read More
The Navy has been queueing up a 70 percent budget cut to the Naval Audit Service, led by special interests and without Congressional approval. The move is unprecedented, and it could lead to significant misuse and even greater waste. With the Navy’s goal to have over 355 ships in its fleet Read More
The U.S. Senate voted 53-45 on Wednesday to confirm former derivative markets regulator Gary Gensler as head of the country’s top securities markets regulator, spelling a tougher regulatory regime for Wall Street. Gensler is expected to be sworn in as U.S. Securities and Exchange Commission (SEC) chairman in the coming Read More
Grant Thornton LLP has launched cta.x, an app that allows companies and auditors to rapidly develop and deploy automated internal-controls tests, helping them comply with laws and regulations such as Sarbanes-Oxley. It will also help companies garner new insights from their internal-compliance efforts and increase the return-on-investment in their controls Read More
The Institute of Internal Auditors (IIA) has signed a Memorandum of Understanding (MOU) with the Vietnam Ministry of Finance (MOF) Accounting and Auditing Supervisory Department for cooperation and collaboration in establishing and advancing the internal audit profession in Vietnam. The IIA said, in a statement, that it is well-positioned to Read More
The results of a new survey indicate that internal audit’s ongoing digital transformation could accelerate in 2021. The survey, conducted by AuditBoard and the Institute of Internal Auditors’ Internal Audit Foundation (IAF), finds that internal audit functions plan to increasingly adopt cloud-based software platforms. Nearly a quarter (22 percent) of Read More
