There’s no debate about the value of using open source software (OSS) when building new business applications—cost, flexibility, quality and ease of use, to name a few—but its use comes with legal obligations and security vulnerabilities that can pose significant risks to organizations. To effectively pre-empt such risks, proactive OSS Read More
Two-thirds of Canadian banks examined by regulators had “significant levels” of noncompliance with anti-money laundering rules, according to report to lawmakers reviewed by the Wall Street Journal. The Royal Canadian Mounted Police estimated in 2011 that between $3.8 billion to $11.5 billion is laundered in the country annually. Critics of Read More
Japan’s financial watchdog, the Financial Services Agency, is conducting onsite inspections of the internal audit functions of the country’s regional banks to ensure they are functioning properly. The probe comes after a failure by internal audit at one of the banks, Higashi-Nippon Bank, to identify and stop improper practices, including illegally Read More
While Internal Audit 360° is a completely non-political entity, we are, at heart, editors and journalists, and we believe whole-hardheartedly in the idea of a free and unencumbered press. When a leader calls the press “the enemy of the people” we feel a need to speak up and disagree. We Read More
A recent article from Deloitte in the Wall Street Journal notes the opportunity for internal audit to take advantage of Big Data and data analytics. Sure, it’s a sponsored article as part of Deloitte’s relationship with the WSJ, but the article nonetheless has some good nuggets of wisdom on how Read More
Pizza restaurant chain Papa John’s has hired mega law firm Akin Gump to conduct an independent audit of the company’s programs for diversity and inclusion, as well as the company’s culture. The move comes after the company’s chairman and founder, John Schnatter, resigned earlier this month over allegations that he Read More
The final version of the fiscal 2019 Massachusetts state budget, released this week, will include reforms to the state police that were proposed by the Massachusetts House. The final bill includes a new state police internal audit unit and the creation of a new commission to review state police hiring Read More
The U.S. Army wasted tens of millions of dollars on marketing programs that failed to demonstrate significant returns in fiscal year 2016, according to an internal audit review conducted over nearly two years and acquired by Adweek through a Freedom of Information Act request. The findings follow an earlier version of Read More
Dow Chemical has agreed to pay $1.75 million to settle charges that it failed to properly disclose around $3 million in perks for former CEO Andrew Liveris in its proxy statements. The Securities and Exchange Commission said Dow applied an incorrect standard in deciding not to disclose perks including personal Read More
Gov. Jerry Brown signed the California Consumer Privacy Act of 2018 last week, hours after its unanimous approval by the State Assembly and Senate. When it takes effect, it will be the toughest data privacy law in the United States, with many similar provisions as the European Union’s General Data Read More
