According to a recent MISTI survey, internal auditors say their internal audit seniors and managers most lack data analytic skills, understanding of IT auditing concepts, and ability to influence and persuade.
More than eight years removed from the start of the financial crisis that caused a full-on risk management freak-out across Corporate America, it appears risk management programs are still not up to snuff.
It's often said that the regulatory response to a large financial scandal or series of frauds will be swift and sweeping and that it will do absolutely nothing to stop the next series of frauds or scandals.
Companies might want to review their severance agreements and other employment contracts in light of a recent Securities and Exchange Commission ruling. The SEC is taking issue with language that discourages employees or former employees from raising concerns about wrongdoing to its whistleblower office.
One of the big themes of the Audit, Risk and Governance Africa conference held by MIS Training Institute in Accra, Ghana last week was how to position internal audit for the future and how to ensure that the function continues to add value in the organization and remain relevant.
The Securities and Exchange Commission has charged South American-based LAN Airlines with making illegal payments to attempt to settle a labor dispute, in violation of the Foreign Corrupt Practices Act.
A new report finds that the majority of large, multinational companies based in emerging markets, including China and Brazil, are falling down on their responsibility to provide transparent corporate reporting.
If you thought that the upheaval in the internal audit profession and the rapid pace of change that has recast the internal audit function at many companies is starting to settle down, think again. A new report from Big Four audit firm EY finds that the transformation of internal audit is really just beginning.
The first chief of the Securities and Exchange Commission's whistleblower office, Sean McKessy, announced that he is stepping down later this month. Depending on his successor, the office could become more aggressive in spurring whistleblowers to come forward.
Corporate frauds are cyclical, meaning that they tend to come in waves, particularly when the markets perform poorly or a recession hits. (That is, when the scandals themselves aren't the actual cause of the recession as we saw in the financial crisis of 2008.)
Just 10 percent of companies are prepared to adopt the new Financial Accounting Standards Board (FASB) lease accounting standards, according to a recent report by audit firm Deloitte. And it's not that many companies are just procrastinating.
Companies are paying a huge price for worldwide corruption and bribery, even if they are adopting practices to fight against it. That's because the cost of corruption takes many forms, including loss of business to less scrupulous companies, and regulatory requirements.
The Securities and Exchange Commission has approved a plan by the Public Company Accounting Oversight Board to require audit firms to disclose the names of audit engagement partners and to provide more information about other firms that participate in audits.
During the past several years that I have covered corporate compliance, auditing, accounting, and other functions that intersect with government regulation the executives and company representatives I've talked to have always chosen their words very carefully.