The City of New Orleans’ Inspector General found that the former management at the Sewerage and Water Board interfered with internal auditors, rendering them completely ineffective. Inspector General Derry Harper said the S&WB auditors weren’t able to provide effective oversight of the agency’s operations between 2016 and 2018. The IG’s Read More
A report by British Columbia’s auditor general has revealed several holes in the safety net that restricts access to provincial government systems with the discovery that some ministries weren’t following the rules. Auditor general Carol Bellringer’s report released this week looked at five ministries and how each allowed employees and Read More
The Institute of Internal Auditors’ Internal Audit Foundation has issued a new guide on data analysis and sampling. It says the guide, Data Analysis and Sampling Simplified: A Practical Guide for Internal Auditors, is designed to live on the desks of internal auditors, not on the bookshelves. “In short, this Read More
A professor at the University of Pennsylvania’s Wharton School is warning that the Securities and Exchange Commission’s proposal to exempt smaller companies from having to comply with a key provision of the Sarbanes Oxley Act (SOX) could do more harm than good. The SEC proposed in May to exempt relatively Read More
A Massachusetts Department of Transportation project manager responsible for auditing the state’s Merit Rating Board told lawmakers during testimony this week that she had flagged thousands of unprocessed out-of-state traffic violations in her preliminary audit findings in April. Brie-Anne Dwyer, who testified before the Joint Committee on Transportation on Tuesday, Read More
A former CVS employee has pleaded guilty to fraud after an internal audit, triggered by suspicious activity, uncovered a $2.5 million scam to resell stolen merchandise, the U.S. Attorney’s Office for the Western District of New York announced last week. The perpetrator, Antonio Rivera of Williamsville, NY, was employed Read More
Facebook will pay a record-breaking $5 billion penalty, and submit to major new privacy restrictions and a modified corporate structure, to settle Federal Trade Commission charges that the company violated a 2012 FTC order by deceiving users about their ability to control the privacy of their personal information. The whopping Read More
Equifax has agreed to pay at least $575 million, and potentially up to $700 million, as part of a global settlement with the Federal Trade Commission, the Consumer Financial Protection Bureau (CFPB), and 50 U.S. states and territories, which alleged that the credit reporting company’s failure to take reasonable steps Read More
The IIA, in collaboration with the Internal Audit Foundation and Crowe, conducted a limited survey of IIA members to get a read on current understanding and preparedness around their role in adopting blockchain. The resulting report, Blockchain and Internal Audit, answers the question, “What steps, if any, should the profession Read More
The Institute of Internal Auditors (IIA), a professional association for internal auditors, honored former Global Chairmen Lawrence J. Harrington (2015-16) and Philip D. Tarling (2012-13) with the 2019 Victor Z. Brink Award for Distinguished Service. The award, annually recognizing individuals for their outstanding contributions to the internal audit profession and Read More
