Guidelines for Auditing Ethics and Compliance Programs

Written by Steven Randall, Partner, Vonya Global Auditing ethics and compliance programs ensures that an organization “walks the walk.” This is the way any business can safeguard itself against fraud by seeing that the practices that exist in its daily operations match up with the procedures it espouses in its policies and code of conduct. […]

The Risks of Conducting Business Internationally

Conducting business internationally carries many risks that domestic business does not. International business involves exposure to local economic conditions, fraud, and bribery. Business can be interrupted by political problems such as insurrections, problematic diplomatic relations, hostility from locals, and volatile foreign governments. Unstable currency exchange rates and exchange restrictions can also complicate international dealings. Finally, […]

Handling Misconduct at the Management Level the Right Way

Written by Sargon Youmara, Partner, Vonya Global Recently, the SEC awarded a whistleblower with more than $300,000. Though the employee first reported misconduct internally, the company failed to act and suffered greater consequences for inaction. This was the first such award given to a whistleblower working in compliance, and acts as a signal to the […]

Creating a Speak Up Culture

Written by Sargon Youmara, Partner, Vonya Global Research and case studies have proven that a majority of employees do not speak up when they see fraud or misconduct in the workplace. This is true across a spectrum of businesses, even when employees have great IT security, sound internal audit procedures, and other corporate resources to […]

Fraud Prevention for Venture Capital and Private Equity

Written by Steven Randall, Partner, Vonya Global It happens all the time, human capital / resource constraints at start-ups and small to medium sized companies limit the ability to have a robust accounting and finance staff. In most cases one person is typically responsible for many tasks. When these tasks overlap, like: reviewing and paying […]

Using Audit to Reduce Costs of Major Construction Projects

Written by Steven Randall, Partner, Vonya Global Organizations involved in major capital projects are missing out on significant opportunities to reduce costs. This is not to say that construction managers are fiscally irresponsible, conversely they are very reluctant to spend money where it is not absolutely necessary. So much so that in an effort to […]

Exhaustive Management Review Control (“MRC”) Testing

Written by Veronika Fritz, Partner, Vonya Global Audit Overkill, CorpGov Necessity, or Value Add? As we have discussed in previous articles, the PCAOB has come down hard on the public accounting firms for the adequacy of internal control testing when conducting the annual financial statement audit at their clients. The result in the current financial […]

Attention Audit Committee: Who Can You Rely On?

Written by Steven Randall, Partner, Vonya Global An article published in the Journal of Accountancy on December 17, 2013 highlighted that the PCAOB is focusing a lot of attention on auditing of internal control over financial reporting. The Center for Audit Quality lists internal control over financial reporting as one of its primary key risk […]

Cyber Threats – Knowledge is Prevention

Written by Steven Randall, Partner, Vonya Global There are many articles and reports published on the top risks that the organizations are facing today and the emerging risks for future. While regulatory risk, IT risk, strategic risk, and environmental risk among others seem to be the most common, cyber crime is a risk that can’t […]

The Risk Stops Here: a Story About Little Risky

This contribution to the Internal Audit Blog comes to us from the late John Landreth. We lost John a few years ago, far too early. While John spent his career in internal audit, he spent his life giving back to his family and community. He was an ambassador for the profession and a friend to […]