A survey by the Big Four audit firm finds that a startling number of audit leaders are concerned about the skills and expertise their teams have to deliver on stakeholder expectations for efficient audits, insightful reports, and effective decision-support in the years ahead.

Read more

The fury over the increasing use of non-GAAP accounting measures when companies report earnings is building, and now the Securities and Exchange Commission is weighing in with some guidance on practices that are and aren’t acceptable.

Find out more...

The Financial Accounting Standards Board issued a proposed Accounting Standards Update that is intended to enhance disclosure requirements on business income taxes. The proposal would require public and private companies to change the way they report income taxes on their financial statements to include more information about country-by-country tax reporting and more about the cash they hold overseas to avoid paying U.S. taxes on foreign earnings.

Read more

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; only 15 percent of respondents say they expect compliance to go smoothly when requirements begin kicking in as early as next year.

Read more...

Senior management and boards are asking internal audit to do a lot of things, and that is also a good thing. But financial reporting assurance can’t become an afterthought. If it does, you’ll likely get exposed. And when the tide goes out, that warm sunlight will be shining on places where it hasn't shined before.

Read more...

Companies are increasingly turning to outside service providers to help out with their internal audit activities, especially when it comes to specialized work, according to a recent report.

An annual survey of global internal audit professionals finds that, on average, one in three corporate internal audit departments worldwide outsource some of that work to third-party services. 

Read more...

No organization is 100 percent safe from hacks, cybercrime, or boneheaded employee actions that can expose the company to data breaches. Most companies have shifted from a purely prevention mindset to one of a risk-based approach to cybersecurity with a robust incident response plan.

Read more

All organizations know that flexibility, productivity, and personalization were drivers of the BYOD movement that started to take hold five, six years ago. Mobile device usage is ubiquitous, and even office-based employees reap the benefits of the ability to logon at any time from a tiny computer toted around in his or her pocket. 

Find out more...

There isn't a company out there, big or small, that doesn't have some concerns about cybersecurity. Some have called it the biggest problem of our time for companies. Given the potential for the types of disasters Target, Sony, and so many others have experienced, it's no surprise that internal audit has played an important role in ensuring that cybersecurity systems are in place and functioning.

Read more

U.S. regulators have expanded the role of the audit committee in recent years to oversee the hiring and performance of the external auditor in the hopes of improving audit quality. In many ways, the United States was just catching up with audit governance practices that were already common in Europe. 

Read more

The massive cyber heist affecting more than 100 financial institutions in some 32 countries is only the latest in a spate of data security breaches worldwide. Losses from the attack, disclosed last year, eventually could exceed $1 billion. During the past 10 years, hackers have...

Read more...

Risk assurance today is nothing like what it used to be.

Gone are the early days of risk assurance, where the external audit firm inspected financial statements and corporate compliance officers (assuming your firm had one) worked strictly on regulatory filings. The board simply reviewed the accuracy of audit and regulatory filings, and then talked strategy with the CEO.

Read more...

A new research report from The Institute of Internal Auditors (IIA) Research Foundation finds a wide variety of factors influence the maturity levels of internal audit functions around the world. The age and size of the internal audit function, industry type, organizational size, and other variables often influence how quickly internal audit functions can operate to deliver a high level of value.

Read more

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, regulatory requirements, and lost opportunities in regions where corruption risks are too high. Discover more...

Earlier this month the Securities and Exchange Commission took the next step in its year’s-long campaign to reform the vast dump of information we collectively call financial disclosure. It issued a concept release seeking public comment on...

Read more...

Event Search

MIS|TI Tweets

Please choose your region

Submit
Select a Region
United States
United Kingdom/Ireland
Africa
Americas
Asia-Pacific
Europe
Middle East

By continuing to use misti.com you will be agreeing to the website Terms and Conditions, the Privacy Policy, and the Use of cookies while using the website.