IIA President and CEO Richard Chambers discusses new thought leadership from the Anti-Fraud Collaboration that explores the need to "trust but verify." Regarding automatic assumptions, he cautions, "Distrust fosters distrust: Auditors who seem suspicious soon find that they have clients who don't trust them."
The AICPA Auditing Standards Board has published a standard that creates an engagement known as a direct examination. Under the standard, practitioners can measure or evaluate underlying subject matter against criteria and provide an examination opinion that conveys the result of that measurement or evaluation without another party having first measured or evaluated the underlying subject matter.
The Internal Revenue Service has issued final and proposed regulations covering a wide variety of issues involving deductions and credits for foreign taxes.
It's always beneficial to know where you stand. As we've seen this year, our expectations about the future can be upended for reasons we never would have imagined. Take time to make sure your succession plans are in order.
Economic recovery could be at risk as personal incomes dropped 2.7% in August. Spending gains slowed to 1.5% for the month.
A search for a successor to IIA President and CEO Richard Chambers has officially started, with Korn Ferry collaborating with a committee headed by former IIA global Chair J. Michael Joyce Jr. "We are seeking a highly qualified and transformational leader who will build upon The IIA's strategic vision toward addressing the dynamic trends impacting internal auditors globally," global Chair Jenitha John says.
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