Toy company Mattel announced this week that has completed an independent investigation, led by its audit committee, into the allegations by a whistleblower of accounting improprieties and a lack of independence by the company’s external auditor. The investigation determined that income tax expense was understated by $109 million in the Read More
Former internal auditor for the town of Greenwich, Conn., Melinda Frame, is suing the town. Her complaint was filed last week in State Superior Court in Stamford. Frame, who was hired in August of 2016, says the town interfered with her internal audit work and covered up problems in town Read More
In a letter to Parliament, the Chartered Institute of Internal Auditors called on the U.K. government for new legislation to reform how the audit industry is regulated in the wake of a series of major corporate collapses. The professional association, which represents internal auditors in the United Kingdom and Ireland, Read More
The Institute for Internal Auditors has published a new practice guide to help public sector internal auditors improve the work they do to audit public institutions and municipalities. Incorporating the International Standards for the Professional Practice of Internal Auditing and insights for internal audit practitioners in the public sector globally, Read More
A new study examines the biggest challenges impacting IT audit professionals as they navigate an evolving risk landscape in an era of digital transformation. The 2019 Global IT Audit Benchmarking Study is the eighth annual audit research project conducted by consulting firm Protiviti and ISACA, a professional association for IT Read More
A flash poll conducted by Baker Tilly Virchow Krause, LLP indicates 67% of respondents have been researching agile internal audit and are considering implementation. “In this disruptive age, risks are evolving bigger and faster, requiring increased responsiveness from organizations’ internal audit functions.” John Romano, partner in Baker Tilly’s risk advisory Read More
The Institute of Internal Auditors’ Core Principles for the Professional Practice of Internal Auditing, taken as a whole, characterize the effectiveness of the internal audit activity. The IIA has now released a new practice guide to help internal auditors further apply the principles in their work as auditors. According to Read More
Boards are significantly overconfident when it comes to addressing the most difficult issues their companies face, party because they are underinformed on top risks, finds a new survey. According to the report, there is a gap between how board members view key risks and how executive management does, due to Read More
The Institute of Internal Auditors released a new Global Knowledge Brief, “Solving Key Challenges for the Smaller Audit Group—Plan, review processes, and utilize resources.” The report outlines how small audit departments can leverage their resources, improve flexibility, evaluate their processes, and gain better support from colleagues. It includes unique challenges Read More
Insurance company CNA has announced the appointment of Joyce Bellows as senior vice president, internal audit. In this role, Bellows will lead CNA’s internal audit risk management and investigations functions. She will report to CFO James Anderson. “Joyce’s experience in financial services and proven track record of providing independent and Read More
