Governor of Bank of Jamaica (BOJ), Richard Byles, says the central bank will continue to insist on the development of strong, capable and well-resourced internal audit functions in all financial institutions that the bank regulates, including commercial banks, merchant banks, building societies, and, in the near future, credit unions, securities Read More
The U.S. Department of Commerce’s National Institute of Standards and Technology (NIST) has released its Artificial Intelligence Risk Management Framework (AI RMF 1.0), a guidance document for voluntary use by organizations designing, developing, deploying, or using AI systems to help manage the many risks of AI technologies. The AI RMF Read More
The Chartered Institute of Internal Auditors, a professional organization for internal auditors in the United Kingdom and Ireland, has appointed Anne Kiem as its new chief executive. Kiem has extensive leadership experience in the business, educational, and non-profit sectors. She joined the Chartered IIA from the Chartered Association of Business Read More
Companies based in the United States are the number one target for ransomware, with nearly half (46 percent) of all ransomware attacks happening there, new research by cybersecurity company NordLocker reveals. The study examined several databases of ransomware incidents that affected more than 5,000 companies worldwide. With a joint revenue Read More
The Institute of Internal Auditors (IIA) has expressed serious concerns regarding an internal auditor provision in the Public Company Accounting Oversight Board’s (PCAOB) recently published proposed standard, entitled: “The Auditor’s Use of Confirmation, and Other Proposed Amendments to PCAOB Standards.” The PCAOB’s proposed standard “unfairly and inaccurately places internal auditors Read More
A recent internal audit of the Boulder Police Department has resulted in a determination of officer misconduct in the force’s investigations unit. As part of her ongoing reform efforts since she was hired, Police Chief Maris Herold requested the department review its case management system. While upgrading data and transitioning Read More
The D.C. Housing Authority illegally contracted with a Virginia-based software company, spending about $1 million without competitive bidding and splitting the amount into smaller purchases to escape scrutiny from the agency’s board, according to a report by the Housing Authority’s internal auditor. The review alleges that DCHA under its previous Read More
The Institute of Internal Auditors (IIA) a professional association for internal auditors, has announced upcoming changes to its continuing professional education (CPE) reporting policy. In a statement, the IIA says the changes, which were approved by the IIA’s Professional Certification’s Board (PCB), were made to “ensure internal auditors are regularly Read More
Mattel has agreed to a cease-and-desist order and will pay a $3.5 million civil penalty to settle charges brought by the Securities and Exchange Commission relating to misstatements the U.S. multinational toy company made in its third and fourth quarter 2017 financial statements. The SEC separately has initiated litigation against Read More
The Institute of Internal Auditors has announced its “2022 Emerging Leaders” — a group of young professionals who were nominated as innovators, collaborators, and professional accelerators in the internal audit profession. “The contributions and achievements of this year’s recipients are diverse and impressive. Many of these young professionals have transformed Read More
