IIA's Chambers: Collaboration helps stop financial-reporting fraud | Commentary: Employers' Form I-9 compliance is vital | The importance of EEOC compliance checklists
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March 23, 2017
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IIA report: Audit execs say flawed communication poses reputational risk
Two-thirds of the more than 500 audit professionals surveyed for The IIA's 2017 North American Pulse of Internal Audit say reputational risk is a concern with regard to inaccurate or misleading communication. "Courage is a character trait top audit leaders will need to exhibit not just in dealing with the evolving risk landscape, but also in addressing areas that may be taboo or historically overlooked," said Richard Chambers, president and CEO of The IIA.
Accounting Today (3/20) 
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ebook: Increase Audit's relevance to the business
Internal Audit leaders know they need to be more relevant, more valuable, and have a better seat at the table. But, how? In this eBook, we outline how Audit teams can align siloed processes, apply factual data to big picture risks and ultimately, enhance their value proposition to the organization and C-Suite. Access the eBook here >>
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Internal Audit Watch
IIA's Chambers: Collaboration helps stop financial-reporting fraud
Robust accounting policies and internal controls are crucial parts of an organization's defense against fraud and financial restatements, according to a Center for Audit Quality report published on behalf of the Anti-Fraud Collaboration. "Successfully battling fraud in financial reporting requires strong collaboration among all the principal players," said Richard Chambers, president and CEO of The IIA.
Compliance Week (3/17),  Accounting Today (3/16) 
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Risk & Compliance
Commentary: Employers' Form I-9 compliance is vital
New administration's immigration focus highlights need for better I-9 compliance
(Robert MacPherson/AFP/Getty Images)
President Donald Trump's crackdown on illegal immigration likely means more Immigration and Customs Enforcement audits for companies, highlighting a need for employers to enhance Form I-9 compliance, two attorneys write. Employers can face civil and criminal penalties if they file paperwork improperly.
JDSupra.com/Ogletree, Deakins, Nash, Smoak & Stewart (3/17) 
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The importance of EEOC compliance checklists
Checking boxes on a list is no substitute for compliance, but Equal Employment Opportunity Commission member Chai Feldblum recently reiterated that agency-approved anti-harassment checklists play a vital role in promoting equality in the workplace. The EEOC offers four lists to employers, covering accountability and leadership, investigation and reporting, anti-harassment policies, and compliance training.
Workforce online (3/21) 
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Senate overturns Volks rule
The Senate overturned the Obama administration's Volks rule, which would have given the Occupational Safety and Health Administration the ability to cite record-keeping violations of workplace injuries for five years instead of six months. The House had already passed the measure, and President Donald Trump is expected to sign it.
The National Law Review/Jackson Lewis P.C. (3/22),  The Washington Post (tiered subscription model) (3/22),  The Hill (3/22) 
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4 critical steps for implementing revenue recognition
Even those companies that expect to see little change in the numbers still face changes in accounting processes. Read this white paper to learn major concerns from regulators and auditors on implementation of the new revenue recognition standard, four next steps for companies, and consequences of delayed implementation. Download the white paper.
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Fraud & Ethics
Fake SEC report highlights threat to markets
A hoax report to the Securities and Exchange Commission, filed by a little-known artist saying his company had been acquired by Google parent Alphabet, making him the world's richest man -- with a net worth of $3.6 trillion -- has highlighted a fundamental flaw in the SEC reporting process. The SEC accepts reports filed online without question, which raises concerns over the possibility of fraud.
Bloomberg (3/22) 
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Commentary: Governance committees help manage internal data properly
Companies wanting to get serious about ethical use of employee data and other information should form a governance committee that includes C-suite compliance, risk and data officers, writes Kon Leong, CEO of ZL Technologies.
Harvard Business Review online (tiered subscription model) (3/13) 
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Advance Your Career with Anti-Fraud Skills
Learn anti-fraud best practices from global leaders in the fight against fraud at the 28th Annual ACFE Global Fraud Conference, June 18-23. Join forces with more than 3,000 professionals in Nashville (and save $200 through April 5!) or watch online from your home or office. Register now.
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Technology
N.Y. cybersecurity rules might become template
Cybersecurity rules introduced by the New York Department of Financial Services could be adopted for wider use as the industry struggles with conformity amid a welter of conflicting standards, experts say. Many financial firms have to devote unnecessary energy to cybersecurity compliance, an industry group says, and the New York initiative has earned praise for its consultative approach.
Bloomberg BNA (free content) (3/21) 
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Compliance increasingly relies on data management
Regulators are increasingly requiring financial institutions to affirm the reliability of risk models, valuation and pricing. The requirement puts data management front and center.
Bloomberg for Enterprise (3/15) 
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Are your internal controls in harmony with your business?
Has your internal control program kept pace with changes in the business and regulatory landscapes? Read EY's latest thought leadership paper to learn how the three lines of defense can work in concert to help your organization improve its performance.
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Professional Development
Employees will go the extra mile if they trust you
An environment of trust means challenging employees to grow and being caring and empathetic while coaching them along that journey, writes Paul Zak. The case for trust isn't just about being nice but has been backed up by research, he notes.
The CEO Magazine (3/17) 
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When culture goes awry, even the strongest, most promising companies can suffer brand and reputational damage. Read "Uber: Hot New Company, Same Old Problem -- Culture," one of the latest blog posts from IIA President and CEO Richard Chambers.
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IIA News
IIA Bookstore super sale ends soon
From now until Sunday, March 26, save at The IIA Bookstore -- up to 75% off member pricing on many popular products, including Quality Assessment Manual for the Internal Audit Activity. Take advantage of savings on the resources essential for your internal audit library. Shop now.
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Members-Only Webinar -- Trusted Advisors: Key Attributes of Outstanding
Internal Auditors
Based on his new book, "Trusted Advisors: Key Attributes of Outstanding Internal Auditors," IIA President and CEO Richard Chambers presents the character and leadership traits shared by great internal auditors. Plus, attend the Tuesday, March 28, webinar for a chance to win a signed copy of his book. Save your spot today.
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Nothing great will ever be achieved without great men, and men are great only if they are determined to be so.
Charles de Gaulle,
military leader and statesman
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About The Institute of Internal Auditors
Established in 1941, The Institute of Internal Auditors (The IIA) is the international professional association serving the Internal Audit profession globally. As the internal audit profession’s global voice, recognized authority, acknowledged leader, chief advocate, and principal educator, the IIA’s International Standards and Code of Ethics unite a global community of over 185,000 internal auditors in 170 countries working in myriad areas including internal auditing, risk management, governance, internal control, information technology audit, education, and security. Our mission is to provide dynamic leadership for the global profession of internal auditing. To learn more, visit The IIA’s website, www.theiia.org.
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