A unit of finance and insurance corporation American International Group has agreed to a $20 million settlement with the Securities and Exchange Commission regarding sales practices in affiliation with Florida teachers’ unions. The parent company of Valic Financial Advisors, Inc. paid hundreds of thousands of dollars to an entity owned Read More
Businesses will need to find new ways of transferring data from the European Economic Area (EEA) to the United States after European courts struck down the EU-U.S. Data Privacy Shield program. The rulings sets new hurdles for companies trying to operate across borders, especially as data and information are increasingly Read More
The city of Palo Alto is looking to hire an independent contractor as city auditor to save money and bring consistency to the city. The city is interviewing four auditing firms to replace the city’s last auditor, Harriet Richardson, who left in February 2019 with the staff in the auditor’s Read More
The Securities and Exchange Commission has sent notice to sports apparel company Under Armour and two of its executives that they could face regulatory enforcement actions for past accounting practices at the company. The company revealed this week that it received a “Wells Notice” of possible enforcement action from the Read More
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
