The Institute of Internal Auditors sent the Secretary of Defense a letter expressing “deep concern” over a proposal that would “effectively demolish” the U.S. Navy’s Internal Audit Service through a 70 percent budget reduction. The budget cut, proposed during the previous administration and currently under review, would “disproportionately divest crucial Read More
The results of an internal audit initiated by content streaming service Netflix to see how it was doing on the question of diversity in its original programming found some good news and some work to do. While the streaming service found that there has been progress in the representation of Read More
A high-quality internal audit function can have a huge influence on a business. “Actually, we have a dual role to play,” David Jardine, senior vice president, internal audit at BP plc noted recently. “We’re a custodian of value for shareholders and we’re here to hold management to account. We help Read More
The building blocks of reliable, comparable and relevant environmental, social, and governance (ESG) information begin with a foundation of quality reporting by company management. Now companies have a new resource to improve ESG reporting. The American Institute of CPAs and Center for Audit Quality teamed up to provide audit practitioners Read More
The Securities and Exchange Commission announced today that President Joseph R. Biden, Jr. has designated Allison Herren Lee as Acting Chair of the agency. “It’s an honor to continue my service on the Commission in this new role,” Acting Chair Lee said. “I have tremendous respect for my colleagues on Read More
The Institute of Internal Auditors, an internal audit professional association, has launched a new tool specifically designed to give boards and audit committees assurance that internal auditors are performing their job effectively. The assessment tool offers suggestions for issues to be addressed in an evaluation based on established best practices. Read More
The Institute of Internal Auditors has named Anthony Pugliese as the association’s new president and CEO, succeeding Richard Chambers in the role he has held since 2009. Pugliese will take over the job at the end of March. Pugliese most recently was CEO of the California Society of CPAs, the Read More
The Reserve Bank of India called on India-based banks to align their internal audit functions with international best practices, such as those issued by the Basel Committee on Banking Supervision (BCBS). According to a 2002 guidance note, India banks are required to put in place a risk-based internal audit system Read More
To aid in the process of assessing market risk at financial institutions, the Institute of Internal Auditors has released a new practice guide titled, “Auditing Market Risk in Financial Institutions.” The new supplemental guidance is intended to support internal auditors in the financial services sector with auditing investments in financial Read More
The Securities and Exchange Commission has announced whistleblower awards in connection with three separate enforcement actions totaling over $3.6 million. In the first order, the SEC awarded a whistleblower over $1.8 million for providing significant information about a fraudulent scheme. The whistleblower took immediate steps to mitigate the harm to Read More
