If the COVID-19 pandemic has highlighted anything in corporate America, it is that the need for good governance structures is vital to effectively navigating these trying times. So how good are governance practices at major American companies? Not terrible, but not great either, says a new report from the Institute Read More
A former internal auditor at NJ Transit claims in an email sent to state and federal officials this week that the agency has slipshod controls that have allowed fraud to take place, lacks transparency for internal investigations, and has no established standards for bus maintenance. “As a NJT Internal Audit Read More
Amidst a wide range of challenges in 2020, including a global pandemic and social unrest, cybersecurity and data security risks remain top-of-mind for chief audit executives and audit committee members in Europe, the annual Risk in Focus survey from the Chartered Institute of Internal Auditors (IIA) finds. For the third Read More
Audit committees are disclosing more information about their auditors and audits in shareholder reports this year, according to an annual analysis from the EY Center for Board Matters. Ernst & Young found a dramatic increase in disclosures in most categories over the last eight years, Accounting Today reports. Audit committees Read More
There are few aspects of the chief audit executive (CAE) job that are more anxiety inducing than the executive session of a board or audit committee meeting. Audit leaders can often find themselves pulled in different directions, questioning their loyalties, and put in the precarious position of having to discuss Read More
Furloughs and redeployments during the COVID-19 pandemic and resulting lockdowns are wreaking havoc on the work of internal auditors in the United Kingdom and Ireland, a new survey conducted by the Chartered Institute of Internal Auditors finds. Chartered IIA surveyed more than 225 chief audit executives to assess the impact Read More
Boards are significantly overconfident when it comes to addressing the most difficult issues their companies face, party because they are underinformed on top risks, finds a new survey. According to the report, there is a gap between how board members view key risks and how executive management does, due to Read More
The professional association for internal auditors in the United Kingdom and Ireland has issued a draft version today of a new “Code of Practice” that is says will promote more extensive access for internal auditors. The draft, issued by the Chartered Institute of Internal Auditors, is intended to strengthen corporate Read More
The State Bank of Pakistan has issued some new standards for financial firms on internal audit and the oversight of the function. The new internal audit guidelines set forth several requirements for how the function is structured and governed. Banks and other companies that meet the state definition of a Read More
The Center for Audit Quality reminded internal auditors that they have a role to play in the regular assessment of the job that the external auditor is doing. In an update to its External Auditor Assessment Tool, released today, the CAQ states that while the audit committee should lead the Read More
