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
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
