While organizations often rely on internal auditors to identify the characteristics of a hostile workplace and bring them to management’s attention, one internal audit chief stands accused of creating one. Last month, the city of Hartford, Conn.’s human resources director, Thulani LeGrier, recommended the firing of Hartford’s chief internal auditor, Read More
The Financial Reporting Council in the U.K. has ordered the Big Four audit firms to separate audit units from other functions by 2024 as shortcomings led to the collapses of several big firms recently. The industry watchdog mandated that the firms separate their units so not to have different areas Read More
In a video, Richard Chambers, IIA president and CEO, highlighted the importance of effective communication to persuade organizations to listen and effect positive changes, even as working from home has made communication more difficult. Chambers pointed out that aggression and divisive fighting are not conducive to proper persuasion, and that Read More
The Institute of Internal Auditors announced the appointment of Patricia K. Miller, veteran internal auditor and former IIA global chairman as its representative on the board of directors of the Committee of Sponsoring Organizations of the Treadway Commission (COSO) according to a news release. The IIA is one of the Read More
The Broadway League, the trade association governing the Broadway entertainment industry, has pledged an audit of diversity in the industry amid calls for racial justice across the country. The audit will encompass all aspect of the industry, from the offices of officials to the backstage stage crew, to assess diversity Read More
The Office of the Comptroller of Currency has said that it will take into account the impact of the COVID-19 pandemic on compliance as it considers examinations and enforcement. Banks face heightened compliance risks during the Coronavirus Crisis as staff reductions coincide with a large influx of loan requests, making Read More
Germany is terminating its contract with its existing financial regulator Financial Reporting Enforcement Panel (FREP) after 2021 in an overhaul of its accounting oversight as a result of the Wirecard balance sheet scandal. The Federal Ministry of Justice and Consumer Protection is setting up a new framework for financial regulations Read More
Love and passion aren’t always the words that come to mind when talking about internal audit and accounting, but a new documentary Making It Balance: Will the Work Be Worth It explores just those aspects of the professions and discusses the very humanity behind the audit industry. The documentary, which Read More
A Swedish financial regulator fined Skandinaviska Enskilda Banken 1 billion Swedish konor ($107.3 million) for lax anti-money laundering governance after an investigation. Finansinspektionen, the regulator, found that SEB did not comply with rules on monitoring business relationships and transactions, and such deficiencies opened the bank up to potential risks. The Read More
An internal audit found that the City of Pasadena’s public safety departments had significant issues in their handling of petty cash and purchasing cards, but no illegal activity. The audit was recommended by auditor KPMG in 2014 to enforce “corrective actions to strengthen the City’s oversight of cash disbursements” and Read More
