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SAN JOSE:Your honor, you're late. Again. And you're fired.
ERROL OHS article on a local listed company possibly being the first to sue its internal and external auditors (i>StarBizWeek, /i>Aug 11) had raised a plethora of issues on the distinction between the functions of internal and external audit. It is indeed right to say that “there is a universal lack of understanding of the internal audit profession …”
NEW YORK: In a rare move, New York's top bank regulator threatened to strip the state banking license of Standard Chartered Plc, saying it was a rogue institution that hid US$250 billion in transactions tied to Iran, in violation of U.S. law.
PETALING JAYA: Mid-tier accounting firm UHY Malaysia believes it has strong grounds to appeal against the Audit Oversight Board’s (AOB) reprimand on one of its partners for allegedly breaching a condition imposed when the latter registered with the board.
PETALING JAYA: After operating for more than two years, the Audit Oversight Board (AOB) has finally wielded its powers of sanction. The senior partner of a mid-tier accounting firm is the first auditor to be penalised for breaching a condition imposed when he registered with the board.
WASHINGTON: US futures industry investigators are looking into why Iowa-based collapsed brokerage PFGBest used a tiny accounting firm that appears to be operating from inside a suburban Chicago home to audit its books, according to a person familiar with the matter.
PETALING JAYA: Group audit is becoming an important topic given that many companies are operating in more than one jurisdiction and could be audited by more than one audit firm, according to a roundtable discussion on issues relating to the implementation of the International Standards of Auditing No 600 (ISA 600).