The New York State Comptroller is complaining about State agencies obstructing audits. In his 2015–2016 Annual Report on Audits of State Agencies and Public Authorities. The Comptroller complains, “For the reporting year 2015-16, four agencies significantly delayed, obstructed, or otherwise impaired the scope of six audits…” For example, the Comptroller said: “ESD [Empire State Development […]
Professional Skepticism Still Lacking in Audits
The International Forum of Independent Audit Regulators (IFIAR) was established in September 2006 by independent audit regulators from 17 countries, including the Public Company Accounting Oversight Board (PCAOB) from the United States. IFIAR has issued its third survey of regulatory inspection findings of significant audit firms in their jurisdictions. The initial survey, released in June […]
PCAOB Sanctions Five Auditors for Independence and Other Violations
Recently, the Public Company Accounting Oversight Board, that oversees the audits of public companies, sanctioned five auditors for: Violating auditor independence requirements. Providing bookkeeping and auditing services to the same client. Allowing an unqualified person to oversee quality control requirements at a CPA firm. Failing to properly audit – among other things, the auditor failed […]
80 Million Customers’ Personal Information at Risk – What Controls were in Place?
Anthem, Inc. which is headquartered in Indianapolis, Indiana, is an independent licensee of the Blue Cross and Blue Shield Association serving members in California, Colorado, Connecticut, Georgia, Indiana, Kentucky, Maine, Missouri, Nevada, New Hampshire, New York, Ohio, Virginia and Wisconsin; and specialty plan members in other states. Unfortunately, a recent cyber attack has exposed personal […]
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