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	<title>Audit Profession News &#38; Events &#187; Internal Audit</title>
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		<item>
		<title>Sharman Panel Publishes Final Report and Recommendations</title>
		<link>http://inaudit.com/audit/internal-audit/sharman-panel-publishes-final-report-and-recommendations-19981/</link>
		<comments>http://inaudit.com/audit/internal-audit/sharman-panel-publishes-final-report-and-recommendations-19981/#comments</comments>
		<pubDate>Fri, 15 Jun 2012 09:54:24 +0000</pubDate>
		<dc:creator>editors</dc:creator>
				<category><![CDATA[Internal Audit]]></category>

		<guid isPermaLink="false">http://inaudit.com/?p=19981</guid>
		<description><![CDATA[The Sharman Panel of Inquiry, established at the invitation of the Financial Reporting Council to consider Going Concern and Liquidity Risks: Lessons for companies and auditors, publishes its final report and recommendations. The Panel&#8217;s key recommendations are that: The primary purpose of the going concern assessment and reporting should be to reinforce responsible behaviour in the [...]]]></description>
		<wfw:commentRss>http://inaudit.com/audit/internal-audit/sharman-panel-publishes-final-report-and-recommendations-19981/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Record Fraud Cases Against Financial Institutions</title>
		<link>http://inaudit.com/audit/internal-audit/record-fraud-cases-against-financial-institutions-17235/</link>
		<comments>http://inaudit.com/audit/internal-audit/record-fraud-cases-against-financial-institutions-17235/#comments</comments>
		<pubDate>Tue, 17 Apr 2012 17:17:47 +0000</pubDate>
		<dc:creator>michelle</dc:creator>
				<category><![CDATA[Internal Audit]]></category>

		<guid isPermaLink="false">http://inaudit.com/?p=17235</guid>
		<description><![CDATA[While the number of large fraud cases through the New Zealand courts in the second half of 2011 dipped from the last survey period, two large super-frauds committed against financial institutions have resulted in the highest dollar value ($279.7m) of large frauds recorded in a six month period since the Fraud Barometer began. The latest [...]]]></description>
		<wfw:commentRss>http://inaudit.com/audit/internal-audit/record-fraud-cases-against-financial-institutions-17235/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Q1 Google Earnings Bared, Board Proposes New Class of Stock</title>
		<link>http://inaudit.com/audit/internal-audit/q1-google-earnings-bared-board-proposes-new-class-of-stock-17114/</link>
		<comments>http://inaudit.com/audit/internal-audit/q1-google-earnings-bared-board-proposes-new-class-of-stock-17114/#comments</comments>
		<pubDate>Fri, 13 Apr 2012 16:04:17 +0000</pubDate>
		<dc:creator>editors</dc:creator>
				<category><![CDATA[Internal Audit]]></category>

		<guid isPermaLink="false">http://inaudit.com/?p=17114</guid>
		<description><![CDATA[Proposal Would Effectively Implement 2-for-1 Stock Split While Preserving Long-Term Governance Structure Google Inc. (NASDAQ: GOOG) has finally announced its financial results for the first quarter of 2012. “Google had another great quarter with revenues up 24% year on year,” said Larry Page, CEO of Google. “We also saw tremendous momentum from the big bets [...]]]></description>
		<wfw:commentRss>http://inaudit.com/audit/internal-audit/q1-google-earnings-bared-board-proposes-new-class-of-stock-17114/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Probe into Olympus Advisers&#8217; Fee Pushed</title>
		<link>http://inaudit.com/audit/internal-audit/probe-into-olympus-advisers-fee-pushed-10785/</link>
		<comments>http://inaudit.com/audit/internal-audit/probe-into-olympus-advisers-fee-pushed-10785/#comments</comments>
		<pubDate>Mon, 17 Oct 2011 09:45:41 +0000</pubDate>
		<dc:creator>michelle</dc:creator>
				<category><![CDATA[Internal Audit]]></category>
		<category><![CDATA[lawsuits]]></category>
		<category><![CDATA[PWC]]></category>

		<guid isPermaLink="false">http://inaudit.com/?p=10785</guid>
		<description><![CDATA[Japanese camera and medical equipment maker Olympus Corp. has paid questionable amount to two advisory firms in relation to a 2008 acquisition, deserving of a legal and regulatory probe. This was according to a report from accounting firm PricewaterhouseCoopers commissioned by Olympus&#8216;s former president Michael C. Woodford, who was ousted by the board for not [...]]]></description>
		<wfw:commentRss>http://inaudit.com/audit/internal-audit/probe-into-olympus-advisers-fee-pushed-10785/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>$160m Suit Filed Against Investment Group, Ernst &amp; Young</title>
		<link>http://inaudit.com/audit/internal-audit/160m-suit-filed-against-investment-group-ernst-young-9835/</link>
		<comments>http://inaudit.com/audit/internal-audit/160m-suit-filed-against-investment-group-ernst-young-9835/#comments</comments>
		<pubDate>Wed, 24 Aug 2011 07:42:37 +0000</pubDate>
		<dc:creator>michelle</dc:creator>
				<category><![CDATA[Internal Audit]]></category>
		<category><![CDATA[Deloitte]]></category>
		<category><![CDATA[Ernst & Young]]></category>
		<category><![CDATA[investment group]]></category>

		<guid isPermaLink="false">http://inaudit.com/?p=9835</guid>
		<description><![CDATA[The liquidator to the failed investment group Babcock &#38; Brown has filed a $160 million suit in damages against the company over allegations that it allowed a breach of capital reduction contravention provisions of the Corporations Act. The said breach allegedly started in 2005 until 2008, committed by the directors of Babcock &#38; Brown Ltd, according to an application [...]]]></description>
		<wfw:commentRss>http://inaudit.com/audit/internal-audit/160m-suit-filed-against-investment-group-ernst-young-9835/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>KPMG&#8217;s Audit Report &#8216;Unsatisfactory&#8217;, Says Councillor</title>
		<link>http://inaudit.com/audit/internal-audit/kpmgs-audit-report-unsatisfactory-says-councillor-7083/</link>
		<comments>http://inaudit.com/audit/internal-audit/kpmgs-audit-report-unsatisfactory-says-councillor-7083/#comments</comments>
		<pubDate>Fri, 05 Aug 2011 07:00:06 +0000</pubDate>
		<dc:creator>michelle</dc:creator>
				<category><![CDATA[Internal Audit]]></category>
		<category><![CDATA[audit report]]></category>
		<category><![CDATA[KPMG]]></category>
		<category><![CDATA[Windsor]]></category>

		<guid isPermaLink="false">http://inaudit.com/?p=7083</guid>
		<description><![CDATA[A city councillor in Windsor has criticized the audit report prepared by professional services firm KPMG for the construction of the WFCU Centre. Alan Halberstadt said yesterday KPMG could have dug &#8220;deeper&#8221; than what it had reported in its audit, which “tends to soft pedal things.” Halberstadt slammed the audit report&#8217;s usage of phrases like [...]]]></description>
		<wfw:commentRss>http://inaudit.com/audit/internal-audit/kpmgs-audit-report-unsatisfactory-says-councillor-7083/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Protest Storms KPMG&#8217;s Cost Reduction Measures for Toronto</title>
		<link>http://inaudit.com/audit/internal-audit/protest-storms-kpmgs-cost-reduction-measures-for-toronto-6981/</link>
		<comments>http://inaudit.com/audit/internal-audit/protest-storms-kpmgs-cost-reduction-measures-for-toronto-6981/#comments</comments>
		<pubDate>Mon, 25 Jul 2011 08:14:53 +0000</pubDate>
		<dc:creator>michelle</dc:creator>
				<category><![CDATA[Internal Audit]]></category>
		<category><![CDATA[cost reduction]]></category>
		<category><![CDATA[KPMG]]></category>
		<category><![CDATA[review]]></category>

		<guid isPermaLink="false">http://inaudit.com/?p=6981</guid>
		<description><![CDATA[Consultants from KPMG have proposed several belt-tightening measures for Toronto, which are expected to help the city save $25 million amid protests from different progressive groups seeking to abolish the report. In an executive committee meeting on February, the Ontario Coalition Against Poverty (OCAP) and other poverty groups protested before the city hall room, with [...]]]></description>
		<wfw:commentRss>http://inaudit.com/audit/internal-audit/protest-storms-kpmgs-cost-reduction-measures-for-toronto-6981/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>No Impairment Issue in NZ Shares Trading, KPMG Says</title>
		<link>http://inaudit.com/audit/internal-audit/no-impairment-issue-in-nz-shares-trading-kpmg-says-6915/</link>
		<comments>http://inaudit.com/audit/internal-audit/no-impairment-issue-in-nz-shares-trading-kpmg-says-6915/#comments</comments>
		<pubDate>Mon, 18 Jul 2011 08:19:29 +0000</pubDate>
		<dc:creator>michelle</dc:creator>
				<category><![CDATA[Internal Audit]]></category>
		<category><![CDATA[KPMG]]></category>
		<category><![CDATA[New Zealand]]></category>
		<category><![CDATA[stock exchange]]></category>

		<guid isPermaLink="false">http://inaudit.com/?p=6915</guid>
		<description><![CDATA[There is no indication of impairment issue with regards to the accounts of New Zealand shares trading (NZX), a KPMG review stated today, answering recent speculations. The review disqualified factors pointing to impairment issues that should be signaled in NZX’s accounts”, despite expectations for NZX&#8217;s Australian Clear grain exchange (CGX) to achieve earnings worth between [...]]]></description>
		<wfw:commentRss>http://inaudit.com/audit/internal-audit/no-impairment-issue-in-nz-shares-trading-kpmg-says-6915/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Petrochemical Company Releases Independent Report by Auditors</title>
		<link>http://inaudit.com/audit/internal-audit/petrochemical-company-releases-independent-report-by-auditors-6862/</link>
		<comments>http://inaudit.com/audit/internal-audit/petrochemical-company-releases-independent-report-by-auditors-6862/#comments</comments>
		<pubDate>Tue, 12 Jul 2011 08:43:59 +0000</pubDate>
		<dc:creator>michelle</dc:creator>
				<category><![CDATA[Internal Audit]]></category>
		<category><![CDATA[audit reports]]></category>
		<category><![CDATA[Deloitte]]></category>
		<category><![CDATA[KPMG]]></category>

		<guid isPermaLink="false">http://inaudit.com/?p=6862</guid>
		<description><![CDATA[A Chinese petrochemical company has made no inappropriate accounting of its customer transactions nor has it intended to misstate revenues, according to the report by independent auditors. Keyuan Petrochemicals, Inc. announced that its audit committee has received initial findings of its independent investigation of the Company&#8217;s 2010 sales and revenue from Deloitte Financial Advisory Services, [...]]]></description>
		<wfw:commentRss>http://inaudit.com/audit/internal-audit/petrochemical-company-releases-independent-report-by-auditors-6862/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Relocation Controversy Hounding W Dorset Council Under KPMG&#8217;s Scanner</title>
		<link>http://inaudit.com/audit/internal-audit/relocation-controversy-hounding-w-dorset-council-under-kpmgs-scanner-6807/</link>
		<comments>http://inaudit.com/audit/internal-audit/relocation-controversy-hounding-w-dorset-council-under-kpmgs-scanner-6807/#comments</comments>
		<pubDate>Tue, 05 Jul 2011 07:03:33 +0000</pubDate>
		<dc:creator>michelle</dc:creator>
				<category><![CDATA[Internal Audit]]></category>
		<category><![CDATA[England]]></category>
		<category><![CDATA[investigations]]></category>
		<category><![CDATA[KPMG]]></category>

		<guid isPermaLink="false">http://inaudit.com/?p=6807</guid>
		<description><![CDATA[Three local electors have challenged West Dorset District Council&#8217;s process of moving its office in Charles Street, citing the findings of auditors from KPMG. KPMG will investigate the claims of local electors who questioned the money presented by West Dorset District Council, which recently relocated. While looking into the claims, KPMG is reportedly likely to [...]]]></description>
		<wfw:commentRss>http://inaudit.com/audit/internal-audit/relocation-controversy-hounding-w-dorset-council-under-kpmgs-scanner-6807/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Discrepancies in Chinese Company&#8217;s Financial Statements Under Fire</title>
		<link>http://inaudit.com/audit/internal-audit/discrepancies-in-chinese-companys-financial-statements-under-fire-6804/</link>
		<comments>http://inaudit.com/audit/internal-audit/discrepancies-in-chinese-companys-financial-statements-under-fire-6804/#comments</comments>
		<pubDate>Mon, 04 Jul 2011 05:57:02 +0000</pubDate>
		<dc:creator>michelle</dc:creator>
				<category><![CDATA[Internal Audit]]></category>
		<category><![CDATA[China]]></category>
		<category><![CDATA[financial statements]]></category>

		<guid isPermaLink="false">http://inaudit.com/?p=6804</guid>
		<description><![CDATA[From about 714 million yuan of cash and bank balances as stated in its previous report, the financial statement of a Chinese company has fallen short of 15 million yuan in an update. S-chip China Gaoxian Fibre Fabric Holdings issued an update of its questionable financial statements to the the Singapore Exchange (SGX). The report [...]]]></description>
		<wfw:commentRss>http://inaudit.com/audit/internal-audit/discrepancies-in-chinese-companys-financial-statements-under-fire-6804/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Probe Iris Robinson&#8217;s Lease Agreement, Councillors Urged</title>
		<link>http://inaudit.com/audit/internal-audit/probe-iris-robinsons-lease-agreement-councillors-urged-6784/</link>
		<comments>http://inaudit.com/audit/internal-audit/probe-iris-robinsons-lease-agreement-councillors-urged-6784/#comments</comments>
		<pubDate>Thu, 30 Jun 2011 05:13:43 +0000</pubDate>
		<dc:creator>michelle</dc:creator>
				<category><![CDATA[Internal Audit]]></category>
		<category><![CDATA[investigations]]></category>
		<category><![CDATA[scandals]]></category>

		<guid isPermaLink="false">http://inaudit.com/?p=6784</guid>
		<description><![CDATA[The ongoing investigation into the alleged impropriety of a lease agreement between Iris Robinson and former teenage lover has reached higher grounds as councillors from Castlereagh Borough were asked to help in the inquiry. Allegations of impropriety have been hurled against the £50,000 lease agreement after the Castlereagh borough council awarded the contract to 19-year [...]]]></description>
		<wfw:commentRss>http://inaudit.com/audit/internal-audit/probe-iris-robinsons-lease-agreement-councillors-urged-6784/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>&#8216;Defrauded&#8217; Bonuses to Cricket SA Officials Up at Board Meeting</title>
		<link>http://inaudit.com/audit/internal-audit/defrauded-bonuses-to-cricket-sa-officials-up-at-board-meeting-6626/</link>
		<comments>http://inaudit.com/audit/internal-audit/defrauded-bonuses-to-cricket-sa-officials-up-at-board-meeting-6626/#comments</comments>
		<pubDate>Wed, 15 Jun 2011 04:49:57 +0000</pubDate>
		<dc:creator>michelle</dc:creator>
				<category><![CDATA[Internal Audit]]></category>
		<category><![CDATA[embezzlement]]></category>
		<category><![CDATA[South Africa]]></category>

		<guid isPermaLink="false">http://inaudit.com/?p=6626</guid>
		<description><![CDATA[A minister has sought to shed light on the heated controversy over bonuses at Cricket South Africa that have been allegedly awarded improperly to officials amid new allegations raised by the audit committee. South Africa&#8217;s sports minister Fikile Mbalula called for a meeting with top Cricket South Africa officials, including its chief executive Gerald Majola, [...]]]></description>
		<wfw:commentRss>http://inaudit.com/audit/internal-audit/defrauded-bonuses-to-cricket-sa-officials-up-at-board-meeting-6626/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Accounting Issues at Insurance Company Spark Auditors&#8217; Resignation</title>
		<link>http://inaudit.com/audit/internal-audit/accounting-issues-at-insurance-company-spark-auditors-resignation-6599/</link>
		<comments>http://inaudit.com/audit/internal-audit/accounting-issues-at-insurance-company-spark-auditors-resignation-6599/#comments</comments>
		<pubDate>Mon, 13 Jun 2011 05:24:24 +0000</pubDate>
		<dc:creator>michelle</dc:creator>
				<category><![CDATA[Internal Audit]]></category>
		<category><![CDATA[accounting issues]]></category>
		<category><![CDATA[Ernst & Young]]></category>

		<guid isPermaLink="false">http://inaudit.com/?p=6599</guid>
		<description><![CDATA[Amid possible court actions by the Securities and Exchange Commission against insurance company Life Partners Holdings Inc. due to accounting issues, another controversy has racked the firm leading to the resignation of its auditors. Ernst &#38; Young auditors have decided to terminate accounting services for Life Partners and withdrawn its 2010 financial report opinion after [...]]]></description>
		<wfw:commentRss>http://inaudit.com/audit/internal-audit/accounting-issues-at-insurance-company-spark-auditors-resignation-6599/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Embezzled Flood Relief Donations Under PwC&#8217;s Scan</title>
		<link>http://inaudit.com/audit/internal-audit/embezzled-flood-relief-donations-under-pwcs-scan-6540/</link>
		<comments>http://inaudit.com/audit/internal-audit/embezzled-flood-relief-donations-under-pwcs-scan-6540/#comments</comments>
		<pubDate>Tue, 07 Jun 2011 06:41:04 +0000</pubDate>
		<dc:creator>michelle</dc:creator>
				<category><![CDATA[Internal Audit]]></category>
		<category><![CDATA[investigations]]></category>
		<category><![CDATA[PWC]]></category>

		<guid isPermaLink="false">http://inaudit.com/?p=6540</guid>
		<description><![CDATA[Hundreds of thousands of pounds in flood relief donations handed by Britons to Oxfam UK have been embezzled, now under PricewaterhouseCoopers&#8217;s scanner as the accounting firm has been hired by the British charity. &#8220;Oxfam&#8217;s regular monitoring processes have found financial irregularities in an Oxfam programme for flood relief in Sindh, Pakistan,&#8221; Oxfam said in a [...]]]></description>
		<wfw:commentRss>http://inaudit.com/audit/internal-audit/embezzled-flood-relief-donations-under-pwcs-scan-6540/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Nothing Wrong with Lease Agreement Between Councillor, Ex-lover &#8211; Deloitte</title>
		<link>http://inaudit.com/audit/internal-audit/nothing-wrong-with-lease-agreement-between-councillor-ex-lover-deloitte-6474/</link>
		<comments>http://inaudit.com/audit/internal-audit/nothing-wrong-with-lease-agreement-between-councillor-ex-lover-deloitte-6474/#comments</comments>
		<pubDate>Mon, 30 May 2011 06:27:24 +0000</pubDate>
		<dc:creator>michelle</dc:creator>
				<category><![CDATA[Internal Audit]]></category>
		<category><![CDATA[Deloitte]]></category>
		<category><![CDATA[Ireland]]></category>
		<category><![CDATA[scandal]]></category>

		<guid isPermaLink="false">http://inaudit.com/?p=6474</guid>
		<description><![CDATA[The Democratic Unionist Party (DUP) said last week that the wife of Northern Ireland first minister Peter Robinson did not commit acts of &#8220;impropriety&#8221; when she awarded a lease agreement to former lover. Former DUP representative Iris Robinson, who paid tribute last week to Queen Elizabeth II at the Dublin Castle during Her Majesty&#8217;s historic [...]]]></description>
		<wfw:commentRss>http://inaudit.com/audit/internal-audit/nothing-wrong-with-lease-agreement-between-councillor-ex-lover-deloitte-6474/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Fraud at Philips Mexico Arises After KPMG Financial Accounting</title>
		<link>http://inaudit.com/audit/internal-audit/fraud-at-philips-mexico-arises-after-kpmg-financial-accounting-6443/</link>
		<comments>http://inaudit.com/audit/internal-audit/fraud-at-philips-mexico-arises-after-kpmg-financial-accounting-6443/#comments</comments>
		<pubDate>Thu, 26 May 2011 07:08:18 +0000</pubDate>
		<dc:creator>michelle</dc:creator>
				<category><![CDATA[Internal Audit]]></category>
		<category><![CDATA[fraud]]></category>
		<category><![CDATA[KPMG]]></category>
		<category><![CDATA[Mexico]]></category>

		<guid isPermaLink="false">http://inaudit.com/?p=6443</guid>
		<description><![CDATA[Following allegations of bribery at its healthcare equipment sales in Poland, electronics company Philips has said it is investigating a possible accounting error at its Mexican subsidiary. Earlier this month, three employees of Philips have been tried in the western city of Poznan for charges of corruption relating to the sale of its healthcare equipment. [...]]]></description>
		<wfw:commentRss>http://inaudit.com/audit/internal-audit/fraud-at-philips-mexico-arises-after-kpmg-financial-accounting-6443/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Conflict Between Choice of Auditors Delays Probe into Cricket SA Corruption</title>
		<link>http://inaudit.com/audit/internal-audit/conflict-between-choice-of-auditors-delays-probe-into-cricket-sa-corruption-6418/</link>
		<comments>http://inaudit.com/audit/internal-audit/conflict-between-choice-of-auditors-delays-probe-into-cricket-sa-corruption-6418/#comments</comments>
		<pubDate>Wed, 25 May 2011 07:16:11 +0000</pubDate>
		<dc:creator>michelle</dc:creator>
				<category><![CDATA[Internal Audit]]></category>
		<category><![CDATA[KPMG]]></category>
		<category><![CDATA[South Africa]]></category>

		<guid isPermaLink="false">http://inaudit.com/?p=6418</guid>
		<description><![CDATA[Inconsistent views among board members on the choice of auditors to be appointed to look into allegations of financial irregularities, including IPL2 bonuses, within Cricket South Africa have further delayed the process. Although Cricket SA has already appointed KPMG to conduct a forensic audit into the bonus scandal in the next four weeks,Ishmael Semenya, a [...]]]></description>
		<wfw:commentRss>http://inaudit.com/audit/internal-audit/conflict-between-choice-of-auditors-delays-probe-into-cricket-sa-corruption-6418/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Budget Deficit Forces Gippsland to Defer Water Services</title>
		<link>http://inaudit.com/audit/internal-audit/budget-deficit-forces-gippsland-to-defer-water-services-6347/</link>
		<comments>http://inaudit.com/audit/internal-audit/budget-deficit-forces-gippsland-to-defer-water-services-6347/#comments</comments>
		<pubDate>Thu, 19 May 2011 11:34:02 +0000</pubDate>
		<dc:creator>michelle</dc:creator>
				<category><![CDATA[Internal Audit]]></category>
		<category><![CDATA[Australia]]></category>
		<category><![CDATA[Deloitte]]></category>
		<category><![CDATA[water works]]></category>

		<guid isPermaLink="false">http://inaudit.com/?p=6347</guid>
		<description><![CDATA[A budget deficit in Gippsland water factory has forced the management to put off a water services project, blaming poor management and weak oversight as the causes of cost inflation. A damning 95-page report by accounting and consulting firm Deloitte has identified a number of areas that were said to have blown out the costs [...]]]></description>
		<wfw:commentRss>http://inaudit.com/audit/internal-audit/budget-deficit-forces-gippsland-to-defer-water-services-6347/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>&#8216;Deficient&#8217; Financial Report: KPMG on NCUA&#8217;s Accounts</title>
		<link>http://inaudit.com/audit/internal-audit/deficient-financial-report-kpmg-on-ncuas-accounts-6275/</link>
		<comments>http://inaudit.com/audit/internal-audit/deficient-financial-report-kpmg-on-ncuas-accounts-6275/#comments</comments>
		<pubDate>Tue, 17 May 2011 06:57:17 +0000</pubDate>
		<dc:creator>michelle</dc:creator>
				<category><![CDATA[Internal Audit]]></category>
		<category><![CDATA[annual reports]]></category>
		<category><![CDATA[federal agencies]]></category>
		<category><![CDATA[KPMG]]></category>
		<category><![CDATA[US]]></category>

		<guid isPermaLink="false">http://inaudit.com/?p=6275</guid>
		<description><![CDATA[The National Credit Union Administration&#8217;s (NCUA) financial report for the year ended December 31, 2010 contains &#8220;significant deficiency&#8221; in accounting for some of its funds, according to an independent audit conducted by KPMG LLP. The internal audit report, presented using the US generally accepted auditing standards and the Government Auditing Standards, gave NCUA&#8217;s financial report [...]]]></description>
		<wfw:commentRss>http://inaudit.com/audit/internal-audit/deficient-financial-report-kpmg-on-ncuas-accounts-6275/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Erroneous Accounting Prompts Helphire to Take on KPMG</title>
		<link>http://inaudit.com/audit/internal-audit/erroneous-accounting-prompts-helphire-to-take-on-kpmg-6126/</link>
		<comments>http://inaudit.com/audit/internal-audit/erroneous-accounting-prompts-helphire-to-take-on-kpmg-6126/#comments</comments>
		<pubDate>Wed, 11 May 2011 06:42:09 +0000</pubDate>
		<dc:creator>michelle</dc:creator>
				<category><![CDATA[Internal Audit]]></category>
		<category><![CDATA[accounting error]]></category>
		<category><![CDATA[KPMG]]></category>
		<category><![CDATA[motoring]]></category>

		<guid isPermaLink="false">http://inaudit.com/?p=6126</guid>
		<description><![CDATA[A recent restructuring in motoring company Helphire Group has unveiled an accounting error of up to £25 million in its accounts, prompting the board to hire KPMG accountants to investigate the matter. Shares of the company sustained an all-time low 67 percent decline on Friday last week shortly after the discovery of the accounting error. [...]]]></description>
		<wfw:commentRss>http://inaudit.com/audit/internal-audit/erroneous-accounting-prompts-helphire-to-take-on-kpmg-6126/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Unexplained Withdrawal by Former Student Association Prexy Under Fire</title>
		<link>http://inaudit.com/audit/internal-audit/unexplained-withdrawal-by-former-student-association-prexy-under-fire-5977/</link>
		<comments>http://inaudit.com/audit/internal-audit/unexplained-withdrawal-by-former-student-association-prexy-under-fire-5977/#comments</comments>
		<pubDate>Wed, 04 May 2011 05:22:03 +0000</pubDate>
		<dc:creator>michelle</dc:creator>
				<category><![CDATA[Internal Audit]]></category>
		<category><![CDATA[Deloitte]]></category>
		<category><![CDATA[forensic audit]]></category>
		<category><![CDATA[investigation]]></category>
		<category><![CDATA[New Zealand]]></category>

		<guid isPermaLink="false">http://inaudit.com/?p=5977</guid>
		<description><![CDATA[About $1 million had been drawn off from the bank accounts of a student association in Porirua, New Zealand when its then president relinquished the post, initial investigation by police authorities showed. Members of the Whitireia Independent Students Association claimed that unexplained withdrawals from the union&#8217;s bank accounts took place for 18 months, which Deloitte [...]]]></description>
		<wfw:commentRss>http://inaudit.com/audit/internal-audit/unexplained-withdrawal-by-former-student-association-prexy-under-fire-5977/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Delisted Chemical Company Faces Class Action Suit</title>
		<link>http://inaudit.com/audit/internal-audit/delisted-chemical-company-faces-class-action-suit-5961/</link>
		<comments>http://inaudit.com/audit/internal-audit/delisted-chemical-company-faces-class-action-suit-5961/#comments</comments>
		<pubDate>Tue, 03 May 2011 01:00:06 +0000</pubDate>
		<dc:creator>michelle</dc:creator>
				<category><![CDATA[Internal Audit]]></category>
		<category><![CDATA[internal controls]]></category>
		<category><![CDATA[KPMG]]></category>
		<category><![CDATA[lawsuit]]></category>

		<guid isPermaLink="false">http://inaudit.com/?p=5961</guid>
		<description><![CDATA[Following allegations of accounting and operational issues raised by KPMG, chemical company ShengdaTech, Inc. has received a letter from the Listing Qualifications Department of The NASDAQ Stock Market LLC delisting the Chinese firm. Nasdaq found that ShengdaTech&#8217;s securities were no longer warranted based on several public disclosures. Meanwhile, Holzer Holzer &#38; Fistel, LLC has filed [...]]]></description>
		<wfw:commentRss>http://inaudit.com/audit/internal-audit/delisted-chemical-company-faces-class-action-suit-5961/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Priest Questioned Over Gambling Spree After Deloitte&#8217;s Internal Audit</title>
		<link>http://inaudit.com/audit/internal-audit/priest-questioned-over-gambling-spree-after-deloittes-internal-audit-5843/</link>
		<comments>http://inaudit.com/audit/internal-audit/priest-questioned-over-gambling-spree-after-deloittes-internal-audit-5843/#comments</comments>
		<pubDate>Thu, 28 Apr 2011 04:31:24 +0000</pubDate>
		<dc:creator>michelle</dc:creator>
				<category><![CDATA[Internal Audit]]></category>
		<category><![CDATA[Canada]]></category>
		<category><![CDATA[Deloitte]]></category>
		<category><![CDATA[gambling]]></category>

		<guid isPermaLink="false">http://inaudit.com/?p=5843</guid>
		<description><![CDATA[A parish priest in Ottawa, Canada has decided to end his 14-year service to the Glebe church following an internal audit conducted by Deloitte LLP that revealed several controversies involving his gambling activities. The controversy was first reported by the Ottawa Citizen newspaper which disclosed more than $137,000 in cash advances reflected in the credit [...]]]></description>
		<wfw:commentRss>http://inaudit.com/audit/internal-audit/priest-questioned-over-gambling-spree-after-deloittes-internal-audit-5843/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Overpriced Contract Services, Substandard Work in Scotland Under Investigation</title>
		<link>http://inaudit.com/audit/internal-audit/overpriced-contract-services-substandard-work-in-scotland-under-investigation-5696/</link>
		<comments>http://inaudit.com/audit/internal-audit/overpriced-contract-services-substandard-work-in-scotland-under-investigation-5696/#comments</comments>
		<pubDate>Thu, 21 Apr 2011 08:52:44 +0000</pubDate>
		<dc:creator>michelle</dc:creator>
				<category><![CDATA[Internal Audit]]></category>
		<category><![CDATA[Deloitte]]></category>
		<category><![CDATA[investigation]]></category>
		<category><![CDATA[Scotland]]></category>

		<guid isPermaLink="false">http://inaudit.com/?p=5696</guid>
		<description><![CDATA[The Edinburgh Council has called in auditors from global accounting firm Deloitte to conduct an investigation into the alleged overpriced contract services and insufficient and substandard works in property repairs. The council has so far suspended eight of its staff tagged in the anomalous practices that involved millions of pounds worth of property repair contracts. [...]]]></description>
		<wfw:commentRss>http://inaudit.com/audit/internal-audit/overpriced-contract-services-substandard-work-in-scotland-under-investigation-5696/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>&#8216;Suspend&#8217; Share Trading, Holdings Company Pleads</title>
		<link>http://inaudit.com/audit/internal-audit/suspend-share-trading-holdings-company-pleads-5282/</link>
		<comments>http://inaudit.com/audit/internal-audit/suspend-share-trading-holdings-company-pleads-5282/#comments</comments>
		<pubDate>Fri, 25 Mar 2011 18:59:14 +0000</pubDate>
		<dc:creator>michelle</dc:creator>
				<category><![CDATA[Internal Audit]]></category>
		<category><![CDATA[China]]></category>
		<category><![CDATA[Ernst & Young]]></category>

		<guid isPermaLink="false">http://inaudit.com/?p=5282</guid>
		<description><![CDATA[Chinese holdings company Gaoxian Fibre Fabric has called for a suspension in its share trading following dubious bank balances in its subsidiaries as reported by auditors from Ernst &#38; Young. Following the call to halt its share trading way back in March 2010, China Gaoxian Fibre Fabric Holdings Ltd moves to bring the downtime to [...]]]></description>
		<wfw:commentRss>http://inaudit.com/audit/internal-audit/suspend-share-trading-holdings-company-pleads-5282/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Fraught with Corruption: Eastern Cape Health Department Grilled by Forensic Investigation</title>
		<link>http://inaudit.com/audit/internal-audit/fraught-with-corruption-eastern-cape-health-department-grilled-by-forensic-investigation-5221/</link>
		<comments>http://inaudit.com/audit/internal-audit/fraught-with-corruption-eastern-cape-health-department-grilled-by-forensic-investigation-5221/#comments</comments>
		<pubDate>Tue, 08 Mar 2011 13:46:10 +0000</pubDate>
		<dc:creator>michelle</dc:creator>
				<category><![CDATA[Internal Audit]]></category>
		<category><![CDATA[PWC]]></category>
		<category><![CDATA[South Africa]]></category>

		<guid isPermaLink="false">http://inaudit.com/?p=5221</guid>
		<description><![CDATA[PricewaterhouseCoopers&#8217;s forensic investigation has led to conclude that the department of health of Eastern Cape, South Africa lost more than $6.5 million (R45 million) in the last couple of years due to fraud and corruption committed by officials in top levels of the government. The forensic investigation all pointed to specific issues that have been [...]]]></description>
		<wfw:commentRss>http://inaudit.com/audit/internal-audit/fraught-with-corruption-eastern-cape-health-department-grilled-by-forensic-investigation-5221/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Deloitte Audit Clears Procurement Issues in Calgary</title>
		<link>http://inaudit.com/audit/internal-audit/deloitte-audit-clears-procurement-issues-in-calgary-4819/</link>
		<comments>http://inaudit.com/audit/internal-audit/deloitte-audit-clears-procurement-issues-in-calgary-4819/#comments</comments>
		<pubDate>Fri, 11 Feb 2011 09:29:02 +0000</pubDate>
		<dc:creator>michelle</dc:creator>
				<category><![CDATA[Internal Audit]]></category>
		<category><![CDATA[Canada]]></category>
		<category><![CDATA[clean audit]]></category>
		<category><![CDATA[Deloitte]]></category>
		<category><![CDATA[procurement issues]]></category>

		<guid isPermaLink="false">http://inaudit.com/?p=4819</guid>
		<description><![CDATA[CALGARY, Canada – Contrary to the initial report by city auditor alleging impropriety in the city hall&#8217;s procurement process, consultants from Deloitte found that there was no evidence of fraud and that city officials have handled the issues accordingly. City auditor Tracy McTaggart alleged in an audit report that the procurement process has been tarnished [...]]]></description>
		<wfw:commentRss>http://inaudit.com/audit/internal-audit/deloitte-audit-clears-procurement-issues-in-calgary-4819/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>KPMG: Siemens Services to SA Labor Department Substandard</title>
		<link>http://inaudit.com/audit/internal-audit/kpmg-siemens-services-to-sa-labor-department-substandard-4783/</link>
		<comments>http://inaudit.com/audit/internal-audit/kpmg-siemens-services-to-sa-labor-department-substandard-4783/#comments</comments>
		<pubDate>Thu, 10 Feb 2011 07:21:14 +0000</pubDate>
		<dc:creator>michelle</dc:creator>
				<category><![CDATA[Internal Audit]]></category>
		<category><![CDATA[internal audit]]></category>
		<category><![CDATA[KPMG]]></category>
		<category><![CDATA[South Africa]]></category>

		<guid isPermaLink="false">http://inaudit.com/?p=4783</guid>
		<description><![CDATA[CAPE TOWN, South Africa – The labor department has heeded the advice of KPMG not to give extension to the contract of the German technology firm Siemens after the audit firm has found that its services have been below standard. According to KPMG, it would be less costly to come to terms with regards to [...]]]></description>
		<wfw:commentRss>http://inaudit.com/audit/internal-audit/kpmg-siemens-services-to-sa-labor-department-substandard-4783/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
		</item>
		<item>
		<title>Trust Fund in Papua New Guinea Not Complying with Finance Management Act, Says Deloitte</title>
		<link>http://inaudit.com/audit/internal-audit/trust-fund-in-papua-new-guinea-not-complying-with-finance-management-act-says-deloitte-4704/</link>
		<comments>http://inaudit.com/audit/internal-audit/trust-fund-in-papua-new-guinea-not-complying-with-finance-management-act-says-deloitte-4704/#comments</comments>
		<pubDate>Tue, 08 Feb 2011 13:50:00 +0000</pubDate>
		<dc:creator>michelle</dc:creator>
				<category><![CDATA[Internal Audit]]></category>
		<category><![CDATA[Deloitte]]></category>
		<category><![CDATA[internal audit]]></category>
		<category><![CDATA[Papua New Guinea]]></category>
		<category><![CDATA[trust fund]]></category>

		<guid isPermaLink="false">http://inaudit.com/?p=4704</guid>
		<description><![CDATA[PAPUA NEW GUINEA – The latest in the audit reports of business consultancy and accounting firm Deloitte on the Department of Environment and Conservation (DEC) disclosed several lapses in how it has managed the coffers of its Biodiversity Trust Fund and poor compliance with the rules. The audit report, which is the second in a [...]]]></description>
		<wfw:commentRss>http://inaudit.com/audit/internal-audit/trust-fund-in-papua-new-guinea-not-complying-with-finance-management-act-says-deloitte-4704/feed/</wfw:commentRss>
		<slash:comments>0</slash:comments>
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