In his latest blog post, internal audit and risk expert, Norman Marks, writes about the need to perform an audit that assesses whether management has a system of internal control that provides reasonable assurance of compliance. “There’s a lot of talk about auditing culture and other significant sources of risk,” Read More
Facebook on Sunday faced a backlash about how it protects user data, as lawmakers demanded that the social media giant explain how a political data firm with ties to President Trump’s 2016 campaign was able to harvest private information from more than 50 million Facebook profiles without the social network’s Read More
Overall compliance with Apple’s code of conduct for suppliers is improving, but the number of serious violations of its policies doubled in 2017, the company reported, based on a series of audits of major suppliers conducted in 2017. For its latest Supplier Responsibility Progress Report, Apple audited 756 suppliers spanning Read More
President Donald Trump’s announcement that his administration plans to impose tariffs on foreign-imported steel and aluminum threatens to land the United States and its trading partners into a global trade war. That prospect raises serious risks for U.S. companies in several industries that internal audit leaders and risk managers may Read More
The most pressing concerns for internal audit this year will hinge on cybersecurity preparedness, updating internal audit amidst rapid business innovation, culture risk management, and new regulatory reporting compliance. It will therefore be important for chief audit executives to chart a path toward impacting and influencing their organizations. But to Read More
When Steve Wynn became the subject of allegations that he committed a series of sexual assaults, shares in his eponymous gaming company plunged 18 percent. Wynn is just the latest in a raft of sexual harassment and gender-based violence claims that have spread through the finance, technology, media, and other Read More
Based on a software development framework, agile internal audit is the mindset an internal audit function adopts to focus on stakeholder needs, accelerate audit cycles, drive timely insights, reduce wasted effort, and generate less documentation. Agile prompts internal auditors and stakeholders to determine up front the value to be delivered Read More
A new report from CFO magazine highlights the dangers of hiring former executives from the same firm that conducts your external audit. “Requiring top corporate executives to be only a year or two removed from a prior job with the company’s auditor is insufficient,” writes author, David McCann. The report Read More
Reuters is reporting that the new head of the Consumer Financial Protection Bureau may be behind the lack of progress in the investigation in the Equifax data breach that occurred last fall. “Mick Mulvaney, head of the Consumer Financial Protection Bureau, has pulled back from a full-scale probe of how Read More
Research firm Audit Analytics is predicting that more than a few companies will struggle with the new revenue recognition rule changes. “We have been asked several times whether or not the adoption of the new revenue recognition standard will cause an increase in the number of restatements and control failures. Read More
