Commentary: 6 elements of a comprehensive anti-money-laundering plan | Organizations fail to understand breadth, impact of GDPR | Starbucks plans bias training for 175K staffers
April 19, 2018
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CAQ publication offers cyberrisk guidance for boards
A new publication from the Center for Audit Quality aims to provide public company board members with guidance for addressing cyberrisk management. The CAQ offers four categories of questions that board members can ask to examine such issues as the strategies that management and the financial-statement auditor use to deal with cyberrisk.
Accounting Today (4/12) 
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Whitepaper: Improve your working papers process.
Working papers are fundamental to the audit management process, despite many auditors traditionally considering them separate from that of audit project management. This whitepaper explores common misconceptions with traditional working papers and how technology can help you overcome them. Get access now >>
Internal Audit Watch
Commentary: 6 elements of a comprehensive anti-money-laundering plan
Companies need to be proactive about staying in compliance with anti-money-laundering regulations by creating a comprehensive plan to recognize, audit and report violations, writes Deanna Murray of Digital Intelligence Systems. Murray outlines the need for internal control reviews and five other key components of a strong anti-money-laundering plan.
Financial Executives International Daily (4/18) 
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Navigate business change with these SOX process improvement techniques.
The internal audit function must be constantly optimized to stay efficient. What can companies do to improve their SOX processes and prove tangible value? By reevaluating your SOX process, you can save time, effort, and money. Read this white paper to find out more.
Risk & Compliance
Organizations fail to understand breadth, impact of GDPR
Many organizations are not prepared for the upcoming General Data Protection Regulation, as many fail to understand the broad scope of the new rules. Consent processes alone will not be enough to meet the EU regulation.
Bloomberg Professional Services (4/12) 
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Starbucks plans bias training for 175K staffers
Starbucks plans bias training for 175K staffers
(Saul Loeb/AFP/Getty Images)
Starbucks will shutter more than 8,000 US stores during the afternoon of May 29 to hold racial-bias training for almost 175,000 employees. "Closing our stores for racial-bias training is just one step in a journey that requires dedication from every level of our company and partnerships in our local communities," CEO Kevin Johnson says.
CNBC (4/17),  PBS/The Associated Press (4/17) 
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Court backs OSHA's willful safety violation citation of HVAC contractor
The 11th Circuit Court of Appeals has ruled that the Occupational Health and Safety Administration's willful safety violation citation against an HVAC contractor was justified. The contractor unsuccessfully argued that since the site foreman on duty was ignorant of fall protection rules when a worker fell to his death in 2015, a willful safety violation was inappropriate.
JD Supra/Saul Ewing Arnstein & Lehr (4/9) 
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Independence, objectivity and strategic relationships.
Organizations that employ a thoughtful approach to using the same third party for internal audit and other services have the opportunity to more strategically leverage trusted advisors. These advisors, and their exposure to industry leading practices, can provide insights that help companies protect, grow, optimize and innovate their businesses.
Fraud & Ethics
5 reasons people stay in toxic cultures
5 reasons people stay in toxic cultures
"It's not hard to spot signs of toxic cultures," writes IIA President and CEO Richard Chambers. "They generally have poor communications, as well as distracted and unproductive employees, and there tends to be a lot of finger-pointing and blame games when things go wrong," he writes.
Internal Auditor online (4/12) 
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ACFE: Fraud case referrals to law enforcement have decreased
Fewer fraud cases are being referred to law enforcement, according to the Association of Certified Fraud Examiners. From January 2016 to October 2017, 58% of cases were given to law enforcement, down from 69% in 2008, ACFE said, noting that a typical employee fraud case results in a $130,000 loss.
Accounting Today (4/17) 
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Early Registration Is Open - Save $200!
Save $200 by registering today for GRC 2018 being held in Nashville, TN at The Omni Hotel. Open keynote speaker, Luke Williams will address "Disruptive Thinking: How to Prepare for What's Coming Next" along with sessions on GRC, cyber risk, resilience and mitigations and much more. GRC-Register Today!
Report: Supply chain poses growing security threat to organizations
Supply chain hacks pose threats to organizations, regardless of how strong internal strategies may be, states the Cyber Threat to UK Business Industry 2017-2018 report. Because there is no guarantee that third-party suppliers and vendors follow the same cybersecurity standards as other organizations, hackers could attack vulnerable areas of the supply chain, the report notes.
ZDNet (4/10) 
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Data chiefs evolve from compliance focus to profit center
The role of a chief data officer is evolving beyond the regulatory burden that prompted its creation. Data chiefs are increasingly seen as assistants for monetizing business data troves.
Bloomberg Professional Services (4/12) 
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Insights to Quality: Successful Internal Audit Practices.
The IIA's quality assessment teams report evidence of successful internal audit practices with the help of The IIA's core principles. These emerging trends demonstrate alignment with organizational activities, objectives, risks, and provide valuable context for reported observations. Download Insights to Quality now.
Professional Development
Study: Executives overestimate their company's innovation
Executives may think their culture fosters innovation, but many employees disagree, according to an EY survey. "This should be a concern for managers, as 69% of employees said that being empowered to innovate was hugely important for them," writes Adi Gaskell.
The Horizons Tracker (4/11) 
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Strengthen Your Core
As The IIA's premier designation for more than 40 years, the CIA sets the standard for excellence within the profession. Establish your foundational core for career growth and opportunity.
IIA News
Annual IIA business meeting
The 78th Annual Business Meeting of The IIA will be held at 2:30 p.m. Gulf Standard Time on Wednesday, May 9, at the JW Marriott Marquis Hotel Dubai, United Arab Emirates, following The IIA's 2018 International Conference. Learn more.
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New public-sector virtual symposium
The IIA's American Center for Government Auditing is hosting a virtual symposium, Preparing Public Sector Auditors for Tomorrow's Terrain, from 10 a.m. to 2 p.m. Eastern on Tuesday, July 24. Learn more.
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The sea does not reward those who are too anxious, too greedy or too impatient. ... One should lie empty, open, choiceless as a beach -- waiting for a gift from the sea.
Anne Morrow Lindbergh,
author and aviator
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About The Institute of Internal Auditors
The Institute of Internal Auditors (IIA) is the internal audit profession’s most widely recognized advocate, educator, and provider of standards, guidance, and certifications. Established in 1941, The IIA today serves more than 190,000 members from more than 170 countries and territories. The association’s global headquarters are in Lake Mary, Fla. For more information, visit
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