The Committee of Sponsoring Organizations of the Treadway Commission (COSO) and the Association of Certified Fraud Examiners (ACFE) jointly announced the release of the Fraud Risk Management Guide: Second Edition, a new publication that offers a blueprint for helping organizations establish an overall Fraud Risk Management Program. The Guide updates Read More
A bill limiting the state auditor’s access to certain information heads to Governor Kim Reynolds’ desk this week, despite concerns from Democrats and auditing groups that the measure will hamper investigations of waste and fraud and put federal funding at risk. The bill limits the state auditor’s ability to access Read More
The U.K. Financial Reporting Council (FRC) announced it has launched two separate investigations in relation to audits conducted by Ernst & Young. On April 20, the FRC said it has commenced an investigation in relation to an audit conducted by Ernst & Young of the consolidated financial statements of Made.com Read More
Augusta, Georgia city departments appear likely to get an internal forensic audit after leaders found out in the past month that the city owes the IRS at least $2 million. In an Augusta Commission committee meeting this week, commission member Catherine Smith McKnight pressed forward with a motion for next Read More
Reports of mismanagement and voucher fraud at the D.C. Housing Authority (DCHA) continue to pile up, At-large Councilmember Robert White insisted at a press conference on March 30. White, who has chaired the council’s Housing Committee since January, highlighted four instances of alleged wrongdoing within DCHA — three of which Read More
The Public Company Accounting Oversight Board (PCAOB) announced that it has censured Friedman LLC, a New York-based accounting firm, and imposed a $100,000 civil penalty for the firm’s failure to reasonably supervise two unregistered Chinese affiliate firms in audits of 12 different public companies with operations in China. Friedman consented Read More
The LSU Center for Internal Auditing, a university-based internal audit education program, is expanding to include a greater focus on cybersecurity risk and environmental, social, and governance (ESG) issues. In recognition of these changes, the program has been renamed the LSU Center for Internal Auditing & Cybersecurity Risk Management (LSUCIA&CRM). Read More
The Institute of Internal Auditors (IIA) inducted three of its members into its “Hall of Distinguished Audit Practitioners,” during its annual General Audit Management conference this week in Grapevine, Texas. “The IIA honored three individuals who have made significant contributions to the internal audit profession with induction to the American Read More
What is the fastest-growing challenge facing accounting firms and internal audit departments today? More than 90 percent point to hiring and retaining skilled accountants and auditors. Some are even turning away business due to a shortage of staff. That’s the finding of two newly released reports by leading software provider Read More
The San Diego Association of Governments’ internal auditor, whose damning reports have exposed major policy problems and drawn scrutiny on current leadership, is retiring—and she may be the agency’s last in-house watchdog. SANDAG board leaders are considering replacing Independent Performance Auditor Mary Khoshmashrab with outside consultants when she leaves later Read More
