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Internal Investigations Increasingly Falling on Audit Committees' Plate

Tammy Whitehouse | May 20, 2014

A growing number of audit committees are finding themselves in charge of overseeing internal investigations, and some may be ill-prepared to take on the duty.

A recent report from EY and law firm Squire Sanders says more than 70 percent of all public companies undertake some kind of internal investigation. “With the enactment of the Dodd-Frank Act, the increase in whistleblower claims filed in its wake, and the downturn in the world economy, few public companies will escape the need to conduct an occasional internal investigation, and companies in certain sectors will face such activity on a recurring basis,” the report states.

With that growing number of investigations, companies have struggled with where in the organization they should originate and what departments should be involved in carrying them out, including legal, human resources, internal...

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