(Photo: Audit Report by Nick Youngson CC BY-SA 3.0 ImageCreator) The Center for Audit Quality has issued some much-needed guidance on critical audit matters (CAMs), a new reporting requirement that external auditors will need to start including in their audit reports as early as next year. While the new requirements Read More
The U.S. Army wasted tens of millions of dollars on marketing programs that failed to demonstrate significant returns in fiscal year 2016, according to an internal audit review conducted over nearly two years and acquired by Adweek through a Freedom of Information Act request. The findings follow an earlier version of Read More
Former Irish Nationwide Building Society (INBS) managing director Michael Fingleton has admitted he failed to read internal audit reports at the failed building lender and signed letters to the financial regulator without reading them. A Central Bank of Ireland inquiry into the lender’s €5.4 billion ($6.24 billion) collapse is looking Read More
People’s Trust Insurance is blocking public release of an internal audit report on an investigation into its current CEO’s claims that its former CEO used company funds illegally before his January 2014 death. The audit was ordered by the state office of Florida after current CEO George Schaeffer alleged that 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
Internal audit and risk expert Norman Marks recently blogged on the topic of why internal audit findings sometimes go ignored. Indeed, there have been several recent examples where an organization experienced a public failure even though the issue had previously been identified and reported by the internal audit team. “When Read More
