A guest post by an intern in Internal Audit was recently featured on another accountant’s blog, I Want To Be A CA, and I was first alerted to it by Krupo’s post title bait. The post is not complimentary about internal audit, but the support for its thesis is so flimsy and based on purelyContinue reading “Dueling perspectives on internal audit”
Author Archives: Neil
IIA: Keep internal and external audit separate
AccountancyAge is reporting that the UK and Ireland IIA’s chief executive Ian Peters recently made a statement on the contentious issue of having external auditors provide internal audit services: Internal auditors answer to management and the non-executive directors… external audit reports to shareholders. Merging these two important functions has the potential to cause serious conflictsContinue reading “IIA: Keep internal and external audit separate”
Foreign acquisitions and the FCPA
The Metropolitan Corporate Counsel, a publication dedicated to legal issues relevant to corporate lawyers, recently interviewed Alfredo Avila, Assistant General Counsel at Monsanto about how they approach FCPA compliance for acquisitions. Monsanto recently acquired a US-based company with a Turkish subsidiary, and found during the due diligence the sub had made inappropriate payments to TurkishContinue reading “Foreign acquisitions and the FCPA”
Political risk for market dominance
A recent article on the New York Times about the political costs that Google is facing due to its market dominance, and their strategy to reduce those costs, caught my interest: Google has begun this public-relations offensive because it is in the midst of a treacherous rite of passage for powerful technology companies — regulatorsContinue reading “Political risk for market dominance”
IFRS for small and medium-sized enterprises
I received an email late yesterday from the IASB with the following message: The International Accounting Standards Board (IASB) issued today an International Financial Reporting Standard (IFRS) designed for use by small and medium-sized entities (SMEs), which are estimated to represent more than 95 per cent of all companies. The standard is a result ofContinue reading “IFRS for small and medium-sized enterprises”