Despite global uncertainty, internal audit leaders believe their teams are well-positioned to weather the challenges presented by COVID-19 and help their organizations embrace digital transformation, according to a new report from Protiviti. Organizations whose internal audit functions had already implemented new technologies, tools, and methodologies before the onset of the Read More
The Securities and Exchange Commission today announced charges against technology company HP, Inc. for misleading investors by failing to disclose the impact of sales practices undertaken in an effort to meet quarterly sales and earnings targets. HP has agreed to pay $6 million to settle the charges. According to the SEC, Read More
The Institute of Internal Auditors (IIA) is launching a new, comprehensive framework to support internal auditors pursuing professional development, as well as a new global survey to assess internal audit practitioners’ competency levels, the organization announced in a press release. The IIA’s Internal Audit Competency Framework provides career advancement direction Read More
The Securities and Exchange Commission today announced settled charges against Manitex International, Inc., a Bridgeview, Illinois manufacturer and distributor of cranes, forklifts, and heavy equipment, and three of its former senior executives for two accounting fraud schemes that resulted in the issuance of materially misstated financial statements. According to the Read More
Amidst a wide range of challenges in 2020, including a global pandemic and social unrest, cybersecurity and data security risks remain top-of-mind for chief audit executives and audit committee members in Europe, the annual Risk in Focus survey from the Chartered Institute of Internal Auditors (IIA) finds. For the third Read More
The Securities and Exchange Commission and Fiat Chrysler Automobiles N.V., a London-based public company that sells vehicles through its Michigan-based subsidiary, agreed to settle charges that Fiat made misleading disclosures about an internal audit of its emissions control systems, according to a SEC press release. The SEC found that in Read More
The Institute of Internal Auditors (IIA) is offering a new Global Knowledge Brief to help internal auditors understand how to approach assessments of social equity and corporate social responsibility within their organizations’ strategies and cultures. “At an increasingly rapid rate, social equity and justice movements garner global attention and power,” Read More
The Securities and Exchange Commission has accused Evolution Lighting Technologies Inc. of committing accounting fraud and falsely inflating its reported revenues over a four-year period. The SEC announced the charges against the Connecticut-based company in a statement released this week. Four Revolution Lighting executives—CEO Robert LaPenta, former CFO James DePalma, Read More
New guidance from the U.S. Commodity Futures Trading Commission (CFTC) to its Division of Enforcement staff outlines factors to consider when evaluating companies’ compliance programs during enforcement investigations. The guidance reflects a principles-based approach that avoids prescribing specific guidelines for compliance program structures. The CFTC aims to encourage companies to Read More
Compliance officers are increasingly seeking technology solutions that improve their teams’ access to financial and operational data, and that provide risk monitoring and mitigation. Earlier this year, the U.S. Justice Department instructed prosecutors to evaluate data access and analysis at the companies they investigate. Recent settlement trends indicate that regulators Read More
