An internal audit of marketing practices at the U.S. unit of Korean electronics giant Samsung may have found some unsavory business practices. According to a report in the Wall Street Journal, Samsung abruptly laid off several marketing employees shortly after an internal audit report was released inside the company that Read More
Guest Blog Post by Norman Marks One of the findings in a new report by Deloitte, stated in their 2018 Global Chief Audit Executive research survey, is that only 33 percent of chief audit executives (CAEs) believe their internal audit function is seen in a positive light. This is awful, Read More
As internal audit teams work on their audit plan for 2019, a new report sheds light on where some of the trouble spots are likely to occur for companies, and where internal audit may want to consider focusing its scrutiny and assurance efforts. Last week, technology research firm Gartner issued Read More
An internal audit conducted by NASA’s Office of Inspector General’s Office of Audits found major problems with the aerospace agency’s Space Launch System (SLS), a program that is working on a rocket that could return NASA astronauts to the moon and eventually go to Mars.
While the dog days of summer have typically been a fairly quiet time for internal audit news, there is one place where internal audit is creating some heat these months—on university campuses. There have been a string of university officials and professors who have been implicated of wrongdoing after an Read More
(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
