A new survey of financial executives indicates that corporate America is gearing up for more layoff and belt-tightening. Companies are also putting investments and other spending on hold. The third release of PwC’s COVID-19 CFO Pulse Survey reveals 26 percent of U.S. chief financial officers anticipate layoffs, a marked increase Read More
Securities and Exchange Commission officials issued a unprecedented statement this week urging companies to be forthright and open in their earnings reports, calls with investors, and other disclosures during this time of economic upheaval. The statement underscores the unusual times companies are facing and the disruption the Coronavirus Crisis has Read More
The Institute of Internal Auditors has released a new report to assist internal auditors in assessing their current level of preparedness regarding privacy and data protection issues. The first guide in a three-part series, “Privacy and Data Protection — Internal Audit’s Role in Establishing a Resilient Framework,” provides guidance on Read More
The Securities and Exchange Commission awarded a whistleblower “with compliance-related responsibilities” $450,000 for providing information that helped in a successful enforcement action. While the SEC didn’t name the whistleblower, the company involved, or provide his or her title—in keeping with its confidentiality protections—it did say in a statement that it Read More
As the global COVID-19 pandemic worsens, security firms and law enforcement, including the FBI, are warning of increasing phishing and other cybercriminal scams targeting a largely at-home workforce. Meanwhile, researchers also are finding that cyber-criminals are continuing to spoof organizations that are providing COVID-19 updates to the public. For example, Read More
The Securities and Exchange Commission announced that it is extending the filing periods covered by its previously enacted conditional reporting relief for certain public company filing obligations under the federal securities laws, and that it is also extending regulatory relief previously provided to funds and investment advisers whose operations may Read More
Singapore-based construction and engineering company Tee International is undergoing a review of its policies, aiming to enhance existing internal controls in light of unauthorized compensation paid to ex-company director Phua Chian Kin, the company said in a regulatory filing. Following an external investigation, Phua admitted to using company funds for Read More
AuditBoard, a provider of cloud-based software for managing and automating risk, audit, and compliance work, has announced the release of a new risk management offering, RiskOversight. AuditBoard says the new product, an expansion of its platform, was built to elevate and execute risk management programs across the enterprise—including risk identification, Read More
An audit report resulting from an internal investigation conducted by the internal audit department of Southern Texas University indicates that at least $14,000 to $32,000, and potentially far more, was missing from admissions office revenue. The report, which was obtained by the Texas Monitor, also found improprieties in admissions practices Read More
Daniel Yao Domelevo, the Auditor General of the African nation of Ghana, called for greater independence for internal auditors to help end corruption in the country. He said internal auditors were the custodians of accountability, yet were weakened by “employer dominance and political interference,” and must be granted full independence Read More
