The Institute of Internal Auditors has announced that it is supporting new rules proposed by the Securities and Exchange Commission that would require public companies to say much more about their environmental, social, and governance initiatives. “The Institute of Internal Auditors applauds this week’s release by the U.S. Securities and Read More
The increasing number of organizational failures in government and non-government sectors have resulted in major reforms in corporate governance codes and practices worldwide. The reforms, such as the Sarbanes Oxley Act in 2002 and The Cadbury Report in 1992, focused mainly on enhancing transparency, accountability, and responsibility at various organizational Read More
The Securities and Exchange Commission has proposed two amendments to the rules governing its whistleblower program. The first proposed amendment concerns award claims for related actions that would be otherwise covered by an alternative whistleblower program. The second affirms the Commission’s authority to consider the dollar amount of a potential Read More
Legislators in Greece have floated an amendment to legislation that would require internal auditors to register with the Economic Chamber of Greece, a quasi-governmental agency that oversees the professions of economists, accountants, tax professionals, and others. The measure would give the Chamber a greater role in overseeing the internal audit Read More
The Securities and Exchange Commission appears to be making a new effort to pass rules that would require executives to pay back compensation that was obtained by hitting incentive goals that were later found to be false or inaccurate. The rule was included in the Dodd-Frank Wall Street Reform and Read More
Springfield’s internal auditor said this week he will examine the process for selecting cannabis companies, as requested by City Councilor Justin Hurst. Hurst said he hopes the audit “will shed light on any improprieties that may have taken place.” Mayor Domenic J. Sarno and consultant Julie E. Steiner said the process Read More
With a large potential payout on the horizon for the Commodity Futures Trading Commission (CFTC), the Senate reached a bipartisan agreement to pass a bill that temporarily creates a separate account to pay for the agency’s whistleblower program, the Wall Street Journal reported. “The CFTC whistleblower program has become far Read More
Top executives at companies hit by accounting scandals could lose their bonuses under U.K. proposals for beefed-up regulation after a wave of corporate collapses including Carillion Plc and travel firm Thomas Cook Group Plc. The government proposed creating a new regulator with the power to wield a range of sanctions, Read More
A new report from Transparency International finds that corruption levels have increased around the world, including in some of the countries that have typically scored well, such as Canada, Australia, and the United States. Indeed, among the top 25 least corrupt countries, according to TI’s Corruption Perception Index (CPI), 15 Read More
The Securities and Exchange Commission has awarded more than $300,000 to an internal auditor whistleblower. The SEC said the individual’s “high-quality information and continuing assistance” significantly contributed to a successful enforcement action, earning the whistleblower award. The agency did not reveal the identity of the whistleblower or the company that Read More
