The Public Company Accounting Oversight Board (PCAOB) has fined four audit firms for failing to file Form APs and, thus, failing to disclose who led specific audits for the firm and whether any other firms were involved in those audits. Failure to file Form APs in a timely manner is Read More
A recent audit of a Louisiana agency that manages flood protection in three parishes found a variety of human resources issues, from alleged discrimination, to civil service rule violations to problems with the agency’s grievance process. Louisiana Legislative Auditor Mike Waguespack issued a report this week that examined policies and Read More
The Institute of Internal Auditors (IIA), which provides standards, certification, education, research, and technical guidance to the internal audit profession, has approved the addition of four new affiliates to its global federation. The new affiliates include Bolivia, Honduras, Senegal, and Vietnam. The new affiliates “now have a legal framework to Read More
A new series of reports takes a close look at the internal audit profession in a post-COVID world, where many employees continue to work remotely, many organizations are still limiting travel, and new technologies have been developed to improve remote internal auditing. The reports, published in three parts by the Read More
The top U.S. audit regulator has signed an agreement with China that marks the first step toward gaining access to complete inspections and investigations of public accounting firms headquartered in mainland China and Hong Kong. The Public Company Accounting Oversight Board inspects and investigates public accounting firms in more than Read More
Internal auditors are getting bullied and sanctioned when they present uncomfortable findings to management and the recent Star Casino money launderingcase is just one example, according to a survey by the Australian chapter of the Institute of Internal Auditors. One in seven internal auditors – 14 per cent – said Read More
The U.K. Financial Reporting Council announced July 18 it has imposed financial and non-financial sanctions, as well as a “severe reprimand,” against Grant Thornton UK and a former audit partner of the firm for failures during 2016 and 2018 audits of the financial statements of British retail company Sports Direct Read More
Leidos, a Reston, Va.-based defense contractor, has appointed Thomas Sanglier as its new chief audit executive to oversee the company’s internal audit function. In a statement announcing the move, Leidos says Sanglier will deliver “independent, objective assessments and assurance.” “We are pleased to welcome Tom to Leidos and excited to Read More
The University of Missouri says that an internal audit has led to the discovery of stolen funds and financial mismanagement, as well as employee terminations at the college. The internal audit was initiated following allegations of financial mismanagement in the College of Engineering. As a result of information uncovered during Read More
Cyberattacks are among the most debilitating events that companies and other organizations can experience, and internal auditors and risk managers consistently rank them among the biggest risks to the business. They know that how companies respond and react to such attacks can be the difference between a small blip and Read More
