The Information Commissioner’s Office, the U.K.’s data watchdog, got a rating of “adequate” from an internal audit as the agency faces uncertainty regarding enforcement because of Brexit and COVID-19. The Coronavirus Crisis has disrupted the body’s work and the organization had announced that it will take a more relaxed approach Read More
An internal audit found fraud, bullying, and sabotaged vehicles at an English city’s rubbish and recycling department Cityclean. Brighton and Hove’s city council audit began after a whistleblower complaint, but the auditors were so concerned that they called in the county police. The auditors found the budget was overspent by Read More
The Internal audit profession will be bidding adieu to one of its top long-term leaders. The Institute of Internal Auditors announced today that longtime president and CEO Richard Chambers will be stepping down from his role next March. Chambers said that his decision comes from many months of consideration about Read More
Is your company transacting in Bitcoin or using blockchain to secure the custody records of digital assets? Some new guidance from the AICPA could help you get a handle on auditing them. The American Institute of CPAs updated its practice guide Accounting and Auditing Digital Assets on July 17 with Read More
Startups focused on risk management and security have risen in the interest of venture capitalists as remote work has brought along concerns of higher risk. As businesses become more interested in risk management, startups that cater to this need flourish. Software for cybersecurity, data governance, and other risk-management factors are Read More
With most office workers still toiling from the confines of their home offices and kitchen tables, and some unhappy with their current circumstances, many organizations are concerned about the potential for a rise in fraud. Yesterday, to address that heightened risk, the Institute of Internal Auditors released the report A Read More
The Department of Justice and the Securities and Exchange Commission released the second edition of the Resource Guide to the Foreign Corrupt Practices Act on July 3, its first update in eight years. The resource guide details the government’s expectations for an internal control system, highlighting that it should “take Read More
The largest electric utility in Illinois, Commonwealth Edison Company (ComEd), has agreed to a $200 million settlement with the District Attorney’s Office of the Northern District of Illinois to resolve a bribery investigation. ComEd admitted to monetary payments and arranging jobs and subcontracts for associates of longtime Illinois house speaker, Read More
An internal audit found that the Louisville Metro Police did not properly monitor how the department spent overtime funds. The audit was ordered in 2018 by the city council of Louisville, Ky., after the police department acknowledged $1.2 million in abuse of overtime funds from December of 2016 to 2018. Read More
Universal Health Services has agreed to a settlement with the Department of Justice to pay $122 million for alleged false claims for behavioral health treatments that were unnecessary and failed to provide adequate care for patients admitted to UHS facilities. UHS, headquartered in Pennsylvania, owns and operates nearly 200 psychiatric Read More
