Yesterday, AuditBoard, a cloud-software provider for risk, audit, and compliance work, announced that it had secured a $40 million investment from venture capital firm Battery Ventures. The Los Angeles-based company says it plans to use the funds to support product development, accelerate sales and marketing, and build new business partnerships. Read More
The Institute of Internal Auditors issued a new guide on insider threat programs that is designed help internal auditors understand insider threats and related risks by providing an overview of common traits of main players, key risks, and potential impacts. The guide also covers security frameworks, techniques, considerations, and resources Read More
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
