All Internal Audit articles
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News Brief
CPSC fines Google-owned Fitbit $12M for failing to report smartwatch burn hazard
The U.S. Consumer Product Safety Commission ordered Google-owned Fitbit to pay more than $12 million and comply with certain undertakings to settle allegations the company knowingly failed to report a serious burning hazard with its Ionic smartwatches.
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News Brief
FCA fines Macquarie Bank $16M for control failures that allowed fake trades
The U.K. Financial Conduct Authority fined the London branch of Australian-based Macquarie Bank Limited more than 13 million pounds (U.S. $16.3 million) for “serious control failures” that allowed a trader to conceal hundreds of fictitious trades over a 20-month period.
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Article
Internal audit’s role in cyber-security testing: Where to start
Nathan Anderson, senior director of internal audit at McDonald’s, discusses ways internal audit can better answer management questions about cyber-risks and become a more independent cyber-security testing function overall.
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Resource
Survey Report: IIA Three Lines Model: Reading between the lines
This report has the results of a recent joint survey between Compliance Week and Workiva, which show companies could benefit from the IIA’s updated Three Lines Model—especially in light of the pandemic.
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Article
Fiat Chrysler fined $9.5M for ‘misleading disclosures’ on diesel emissions
Fiat Chrysler Automobiles has agreed to pay $9.5 million to settle allegations from the SEC that it made “misleading disclosures” regarding an internal audit of emission control systems for diesel vehicles it sold in the United States.
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Article
New survey highlights internal audit’s vital role in fraud risk management
The more internal audit plays a key role in the strategic management of fraud, the more effective and robust organizations’ fraud risk management processes seem to be, according to the results of a recent Kroll/IIA survey.
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Article
PG&E makes organizational changes to risk, audit, and safety
A month after admitting guilt in the wildfire deaths of 84 Californians, PG&E announced organizational changes to its risk, audit, and safety leadership teams.
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Resource
e-Book: Trends, tips, and transparency: Internal Audit
In this e-Book, Compliance Week explores auditor reporting standards issued in May by the Auditing Standards Board to help companies get a head start on their rapidly approaching 2020 reports.
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Sponsored
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Groundbreaking research into the methodology and maturity of internal audit functions around the globe. Participate today.
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Article
Chartered IIA publishes new Internal Audit Code of Practice
The Chartered Institute of Internal Auditors announced the publication of new guidance intended to serve as an industry benchmark to improve the effectiveness of internal audit functions.
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Article
IIA seeks comments on update to ‘three lines’ model
Internal auditors are buffing up their longstanding Three Lines of Defense model for how to provide organizations with optimal coverage of risk and control functions.
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Blog
IIA reviews ‘three lines’ model, plans new paper
The Institute of Internal Auditors is performing a new review of the “three lines of defense” model it has long embraced as a basis for sound risk management.
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Blog
Internal audit lags business in RPA adoption, poll says
Business operations may be adopting robotic process automation technology at a faster clip than internal auditors, a new poll suggests.
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Article
Internal auditors hear call to innovate, take up technology
The newest intelligence is calling on audit leaders to embrace their new normal—that nothing is normal—and innovate with technology to face it.
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Blog
Barclays trying not to be the U.K.’s Wells Fargo
As one of the U.K.'s top banks struggles with numerous scandals, its audit committee shows there is still a way forward.
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Blog
PwC internal audit study centers on need for innovation
Technology and innovation should be a priority for internal auditors, in terms of both the risks it produces and how auditors use it to address risks.
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Blog
Newest IIA study will focus on transformation of internal audit
The newest internal audit will suggest chief audit executives need to focus on developing talent to meet a mandate regarding fast-paced changes in business risks.
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Blog
‘CAE Checkup’ evaluates effectiveness of AI-based audit investigations
QuantaVerse has launched a new service, CAE (Chief Audit Executive) Checkup, that enables companies and financial institutions to evaluate the effectiveness of an artificial intelligence (AI)-based approach to audit investigations.
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Article
2018’s internal audit agenda: culture, technology, and change
Internal audit plans for the coming year will reflect more consideration of corporate culture and the risks it might pose to the company’s success.
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Blog
Cooper Standard names vice president of internal audit and compliance
Cooper Standard, a global supplier of systems and components for the automotive industry, has appointed Annemarie Kleabir to vice president, internal audit and compliance, effective Oct. 2.