The United Automobile Workers union has announced that it is revving up its internal audit function in response to a federal investigation into its finances. The UAW’s former president, Gary Jones, resigned earlier this month as a federal corruption probe into bribery and other wrongdoing at the major autoworkers union Read More
A data breach at health care provider Nebraska Medicine came to light during an internal audit of the system’s electronic medical record system. The hospital notified the Nebraska Attorney General’s office on November 27, and notified affected patients on December 2. The breach involves unauthorized access by an employee, who Read More
The Institute of Internal Auditors has issued new guidance on auditing social media. The paper, “Auditing Social Media: Adding Value by Improving Governance,” examines internal audit’s involvement in the implementation and evaluation of social media strategy. Audit executives can assess organizational social media capabilities and social media’s role in the Read More
The U.S. Justice Department has announced the formation of a new unit to combat fraud in government procurement and in grant and program funding. The unit, labeled the Procurement Collusion Strike Force (PCSF) will focus on deterring, detecting, investigating and prosecuting antitrust crimes, such as bid-rigging conspiracies and related fraudulent Read More
Under Armour, the sportswear brand that went from basement start-up to billions, confirmed that its accounting practices are under federal investigation, the latest in a series of blows for a brand that is already struggling to turn around its business. A spokesperson said Sunday that Under Armour has been cooperating Read More
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
