Chief audit executives have given corporate governance an average grade of C+ in a survey by The IIA and the Neel Corporate Governance Center. The American Corporate Governance Index is based on eight principles, including a need for strong interaction among stakeholders and for transparency when determining and explaining policies.
Dealers of heavy-duty trucks need an internal audit function for risk mitigation in matters including taxes, repair orders, and leases and rentals, according to a white paper from DHG Dealerships. The paper advises using internal audit to gauge compliance with rules, because "[t]rusting that policies are being followed without testing such compliance is a recipe for bad surprises."
Civil and criminal charges have been filed against William Meek, former chief operating officer of trucking company Celadon, and Bobby Peavler, former chief financial officer of the company, who are accused of accounting fraud that has cost shareholders more than $60 million. The indictment alleges that Meek and Peavler inflated prices of trucks in a complex scheme, allowing avoidance of an impairment charge worth at least $20 million.
Enforcement of the California Consumer Privacy Act, set to take effect on Jan. 1, will be based on companies' level of effort toward compliance, state Attorney General Xavier Becerra said. Becerra plans to "make an example of" companies that make insufficient efforts to comply with the law, he said.
Mentally strong people carry themselves differently when they're affected by a negative state of mind, and it's possible for anyone to do so, says Christina DesMarais. To move through frustration or anxiety quickly and smoothly, get over the issue rather than ruminate on it, avoid dramatic people when possible, and let things go rather than hold a grudge, she writes.
Culture and career growth are top factors that members of Generation Z -- those born between 1996 and 2010 -- look for when choosing accounting internships, a survey found. Firms can gain an edge by following good communication practices and using a recruiting team that includes people from different backgrounds.
Employee diversity has increased at CPA firms since the AICPA Council passed a resolution in 1969 designed to unlock opportunities in the profession. Fifty years later, firms can continue the progress by taking several steps, including addressing unconscious bias and gathering feedback about the obstacles that still exist.
Organizations are now recognizing that fostering diversity and inclusion (D&I) in the workplace is both the right thing to do and a way to improve business. In this 20-minute video, Barry Melancon, CEO and president of the AICPA, and Michele C. Meyer-Shipp, principal and chief diversity and inclusion officer, KPMG, discuss how D&I has evolved and the impact it has had on organizations.
Focusing on facts rather than feelings can help overcome unconscious bias. To separate facts from assumptions, ask yourself what concrete information you have about other people -- not how you feel or what you've heard about them.