A new survey finds that corporate boards are expected to ask IT, IT audit, and other functions responsible for securing the company’s data and systems for more information on the effectiveness of cybersecurity programs. The survey, by Deloitte, found that 62.7 percent of C-suite and other executives expect board directors’ Read More
Internal auditors are seeing their audit reports get “diluted or suppressed” by senior executives or even having their careers derailed when they raise red flags within large corporations, according to an Australia internal auditor. The allegations, by Peter Jones, head of the Institute of Internal Auditors’ Australia chapter, comes in Read More
Elizabeth Johnstone, the chairman of the ASX Corporate Governance Council in Australia, has a frank message for internal auditors: stop being intimidated by company executives and board members. While Johnstone was addressing risk and governance failures in Australia, including multiple scandals at the Commonwealth Bank of Australia, her words serve Read More
Recent corporate scandals linked to problematic company cultures have led directors to look for ways to better monitor corporate culture, while trying to understand potential cultural risks and address problems before they get out of control. By treating culture risk as part of an integrated process of oversight that addresses Read More
Symantec investors are turning on the cyber-security company after it revealed its board’s audit committee will be conducting an internal audit investigation. Shares are down more than 35 percent, and on track to post their worst day since the tech bubble burst in 2001. The internal audit investigation was reportedly Read More
University of Michigan officials say that a 2014 internal audit of its investment office, which controls a $10 billion endowment, reached several faulty conclusions. The university disputed the audit, which found more than a dozen problems with oversight of the endowment, arguing that the audit department, University Audits, didn’t have Read More
The Center for Audit Quality is offering some guidance to audit committees on how to ensure that senior management is ready to adopt the new lease accounting standards that take effect at the start of next year. Preparing for the Leases Accounting Standard: A Tool for Audit Committees is designed Read More
According to a new survey conducted by the National Association of Corporate Directors, board members say they are not getting enough information from corporate functions, including internal audit, on such issues as cyber-risk, corporate culture, and strategic risks. According to the survey, it was rare for a director to get Read More
