Hunger strikes and supporting documentation

One of the bigger news stories in Canada of late is the ongoing hunger strike of a First Nations chief, ostensibly being carried out to force a meeting with the Prime Minister to discuss conditions on the remote northern Ontario Attawapiskat reservation. The legacy of the “discovery” and settlement of North America by Europeans and […]

Outsource internal audit for greater objectivity

That’s the recommendation from the Institute of Chartered Accountants of India (ICAI), as reported by The India Express: “In the high-powered committee report on Satyam scam, we have proposed that internal audit should be outsourced and not be in house so that there is more independence. If the auditor is from the organisation, it is […]

Internal audit at Satyam

New charges in the Satyam scandal were laid by India’s Central Bureau of Investigation, for “creating fake invoices to inflate revenues by US$94 million and forging company board resolutions to obtain unauthorised loans worth US$265 million” according to this story in Accountancy Age. This comes after charges were laid on November 21 against the former […]

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 conflicts […]