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April 15, 2016
If you’re using data analysis software to help conduct your audits, then you already know the significant value it offers. You’re also most likely all too aware that the success of your data analytics program rests on your ability to effectively use those tools, to plan their use, and to accurately... Read More »
April 14, 2016
It’s a busy time of year for accountants: tax season is here, and many organizations are now wrapping up their fiscal years. For accountants, this means large volumes of data that must be reviewed, processed and analyzed. More and more often we’re seeing auditors and accountants alike turn to data... Read More »
April 12, 2016
The State of Georgia is back in the spotlight for further allegations of purchasing card (P-Card) misuse and abuse. Following an audit in March, it came to light that a staff member in the Secretary of State’s office potentially misused a taxpayer-funded P-Card to purchase a ticket for a flight for... Read More »
April 8, 2016
If you’ve been following the Canadian Senate scandal, you probably have an opinion on the matter. But if you can put the personalities aside and forget about the total cost of the audit to taxpayers ($23.6 million), you may find yourself asking, “Why were these expense irregularities not flagged... Read More »
April 6, 2016
Making history today, an unnamed Canadian bank has been fined $1.1 million by FinTRAC—the Financial Transactions and Reports Analysis Centre of Canada—for not reporting a suspicious transaction and a number of money transfers. Other banks and financial institutions across the country are taking... Read More »
April 5, 2016
Alison Gordon from Washoe County, Nevada is like many other internal auditors: she is an “internal auditor of one”. That is, she’s the only person in her organization tasked with the responsibility of addressing high-risk issues such as disbursement controls, segregation of duties, continuity of... Read More »
March 31, 2016
According to Ernst & Young’s Annual 2016 Global Forensic Data Analytics Survey, Shifting into High Gear: Mitigating Risks and Demonstrating Returns, cyber breaches and insider threats is one of the fastest growing fraud risks for companies across various sectors. The survey, which polled 665... Read More »
March 30, 2016
With our recent snowy weather here in Ottawa, Canada, we’re missing the sunny weather we found in Miami, Florida earlier this month when we attended the 16th Annual FIBA Anti-Money Laundering (AML) Compliance Conference. With more than 1,400 participants, 21 panel discussions, and 100 relevant... Read More »
March 29, 2016
When it comes to VAT—value-added tax—big names spanning the globe are making recent headlines. Heavy hitters such as Amazon and eBay have made the news after the UK Treasury announced the two corporations will be held liable for VAT fraud committed by overseas sellers using these sites to sell... Read More »
March 22, 2016
According to the country’s Auditor General, the Nigerian National Petroleum Corporation (NNPC) held back $16 billion in revenues from the federal government—and they want what they’re owed. Allegations in the report include: 1) accruals from gas sales to the Nigerian Liquefied Natural Gas (NLNG)... Read More »