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Study Launched on the Strategic Role of Internal Audit
Vonya Global is surveying a cross-section of Executives and Internal Auditors from both public and private organizations in a variety of industries to evaluate their opinions regarding the strategic role of internal audit. This is a follow up study to one conducted in 2008. The results of the 2008 study revealed a expectation gap in the strategic role internal auditors play in their organizations. This follow up study will compare how expectations may have changed in light of continued risks of fraud, financial statement errors, environmental risks, security breaches, and privacy concerns.

Linking IT Spending With Business Performance
It’s A Matter Of How, Rather Than How Much, Money Is Allocated. Virtually every aspect of the business world is somehow supported or touched by IT. “Regardless if it is financial or marketing or health or even communication, it is all about IT today,” says Laura Schultz, senior IT manager with Vonya Global in Chicago.
Source: Processor Magazine

Corporate Crime Task Force Created
It was announced on November 17th that President Obama's administration has created a Corporate Crime Task Force. U.S. Attorney General Eric H. Holder Jr. said, "Mortgages, securities and corporate fraud schemes have eroded the public's confidence in the nation's financial markets and have led to a growing sentiment that Wall Street does not play by the same rules as Main Street."

Looking for Ghost Employees in a Retail Environment
Payroll Fraud, specifically “Ghost Employees” can create a significant financial burden on companies. How much? Well, according to Occupational Fraud and Abuse, by Joseph T. Wells, Obsidian Publishing Co. Inc., Ghost Employee Fraud has the highest median loss relative to all payroll fraud schemes at $275,000 per case.

Investors Opposed to Further SOX Delays
The House Financial Services Committee is considering two amendments to either delay or repeal the requirement for SOX 404(b). The first would require separate studies by the Government Accountability Office and the Securities and Exchange Commission to evaluate the costs and benefits of complying with Section 404(b) for non-accelerated filers. The second would exempt all companies with less than $700 million in market capitalization from Section 404(b).

Vonya Global Introduces Pro Bono Construction Contract Review
A construction contract will include a variety items such as project description, projecttimeline, cost estimate, payment terms, documentation requirements and sections on insurance and indemnification. However, the contract should also include certain provisions to specifically protect the owner’s interest.

Vonya Global Releases Final Report of the Executive Survey on the Strategic Plan for Fraud Prevention and Fraud Detection
Vonya Global surveyed Executives and Internal Auditors from private, public, and not-for-profit organizations, spanning many industries to gather opinions on strategic planning for fraud prevention, fraud detection, and fraud deterrence. Historically, there have been several studies conducted about fraud and fraud statistics, but none that deal directly with the strategic plans to manage fraud risks.

Vonya Global Introduces the Fraud Penetration Study – Finds Fraud Within 24 Hours
Officially launched early in 2009, the proprietary Fraud Penetration methodology developed by Vonya Global is one of the few truly proactive approaches to fraud prevention and detection. The Fraud Penetration Study is the application of specific audit procedures to detect fraud in a core business system. Initial client tests have shown that the Fraud Penetration Study finds instances of fraud within the first 24 hours.

Vonya Global Releases Final Report of the Executive Survey on the Strategic Role of Internal Audit
Vonya Global surveyed a cross-section of Executives and Internal Auditors from both public and private organizations in a variety of industries to evaluate their opinions regarding the strategic role of internal audit. The survey asked questions to determine first whether it is internal audit’s role to evaluate strategic risks and secondarily if internal audit is equipped to do so effectively. The primary goal was to provide a benchmark for Internal Auditors and Executives on the strategic role of internal audit.

Vonya Global Launches Specialized Consulting Practice for Shipping Industry
Vonya Global has created a suite of consulting services to assist shipping companies in meeting a variety of their compliance, accounting, tax, and IT needs. Specifically these include: Sarbanes-Oxley compliance services, Internal Audit Outsourcing, M&A Due Diligence, and IT and Accounting Department Support Services.

Vonya Global Awarded Exclusive Rights to SOX OnPOINT™
The US Patent and Trademark office has awarded Vonya Global the exclusive rights to SOX OnPOINT™. SOX OnPOINT™ is Vonya Global's proprietary methodology for helping companies comply with the requirements of Section 404 of the Sarbanes-Oxley Act of 2002.

In a Changing Business Environment, Vonya Global Helps Clients Maintain Effective Internal Control
If we have learned anything from Sarbanes-Oxley, it is that internal controls have to be effective. However, changes in business creates a dynamic control environment. As changes occur, control design is often compromised, sometimes with significant consequences.

Vonya Global Helps Reduce the Costs of Major Construction Projects
Organizations involved in major capital projects are missing out on significant opportunities to strengthen internal controls and reduce overall project costs. Not only will investing in audit early in the construction process save thousands or hundreds of thousands of dollars throughout the project, it enhances the control environment and mitigates the risks of other cost overruns. More info.