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July 28, 2016
We’ve all seen them shared across our social media circles: the emotional stories of people and charities in need, the heartfelt pleas for help in funding a startup or pet project, and then a link to a webpage where we can donate to lend a financial hand. In most cases these stories are legitimate... Read More »
July 27, 2016
As I looked across the conference floor at the IIA International Conference in New York last week, I am amazed at the changes in the internal auditing profession and the institute. In 1997, only 25,000 people had earned the certified internal auditor (CIA) designation from the IIA, but the number... Read More »
July 21, 2016
Two council workers in Spain have found themselves out of employment after the local town hall discovered that they had been absent from their jobs for 15 years—but continued to collect their paychecks. Attention initially turned to the pair after it was discovered that they had been paid but had... Read More »
July 20, 2016
As auditors continue to deal with increasingly complex projects, accelerating change and increasing reliance on data and analytics, most would agree that a good data analysis program helps manage these challenges. To make your data analysis program a reality, you need three key things: buy-in,... Read More »
July 15, 2016
Town officials in Spring Lake, North Carolina are feeling the heat after the N.C. Office of the State Auditor released a report alleging that thousands of dollars were used inappropriately by the officials. As detailed in the report, 63 town employees could potentially have misspent almost $500,... Read More »
July 12, 2016
Analytics, fraud and insurance companies; new AML rules for NY financial institutions; and charges for P-Card abuse Here is a roundup of some of the news we’re following in the audit, compliance and financial crime spaces: Anti-Money Laundering (AML) European Commission plans tougher AML rules... Read More »
July 7, 2016
A recent online discussion involving researchers from around the globe addressed the question of whether or not Microsoft Excel is a good statistical tool for analyzing data. While most agreed that Excel offers some standard analysis and graphing capabilities, many of the users had the opinion that... Read More »
July 5, 2016
In yet another example of the constantly changing nature of anti-money laundering (AML) regulations, the U.S. Treasury Department’s Financial Crimes Enforcement Network (FinCEN) has recently published the final rule that will fall under the Bank Secrecy Act (BSA). The rule codifies new customer due... Read More »
June 28, 2016
Chase Bank found itself in the media earlier this year after it was revealed that its African branch had irregularly advanced 16.6 billion shillings (Sh) to a variety of entities, many of which were associated with bank insiders, and all without proper security. The Central Bank of Kenya (CBK)... Read More »
June 22, 2016
Immigration, Refugees and Citizenship Canada (IRC) recently faced criticism from Canada’s Auditor-General for having gaps in its citizenship program that led to a review of approximately 700 potential cases of citizenship fraud as of January this year. One issue involved 50 different citizenship... Read More »