As a high-level government auditor, Beth Kennedy has investigated or reviewed the spending of many city of Los Angeles departments without serious incident, she says. But now, Kennedy, a chief internal auditor for City Controller Ron Galperin, is alleging that she was warned not to delve too deeply into controversial Read More
The SOX & Internal Controls Professionals Group today released the findings of its “ 2019 State of the SOX and Internal Controls Market Survey.” The survey, which was conducted in partnership with Workiva, measures the costs, execution, challenges and priorities faced by companies that comply with the Sarbanes-Oxley Act (SOX). Read More
An internal audit by the Gary, Indiana city audit staff revealed $13,000 in stolen funds from the city’s Genesis Convention Center, according to a statement by Gary’s mayor, Karen Freeman-Wilson released yesterday. The stolen funds were diverted from federal grant money to the convention center by an accountant working for Read More
The demand for internal auditors with financial services knowledge and experience is growing rapidly, propelled by regulatory pressures to appropriately staff internal audit programs with the right volume and caliber of professionals. This has led many internal audit activities within the highly regulated financial services industry to increase their staff Read More
More than $8 million in construction cost increases tied to the El Paso Independent School District’s 2016 bond program did not go before the board for approval as required, according to a new internal audit report. As a result, auditors warn final costs are likely to exceed the figures the school board Read More
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
