Fake audit in New Mexico Finance Authority

begets concerns in subsequent treatment.   Internal controls, transparency, objectivity, responsibility of the audit committee are issues to consider.  http://accounting.smartpros.com/standard/IMA/IMA_0812c.html

Internal audit survey results

In a survey conducted by E&Y, 61% of respondents acknowledged they had no documented mandate aligning internal audit with the organisational strategy.  Four steps to formalize this are presented. http://www.cgma.org/Magazine/News/Pages/20126134.aspx

Internal Audit Leaders Report

Volume 8 of Internal Auditing Around the World focuses on leading global companies and how their internal audit functions help develop others

http://www.protiviti.com/iaworld

Spikes in the number of inspection findings

by PCAOB for 2010 audits as compared to earlier years....and not limited to just one firm.  http://www.complianceweek.com/crowe-horwath-sees-spike-in-audit-inspection-findings/article/252603/

The going concern blog post generates much discussion with the comments related to the inspection processes.
http://goingconcern.com/post/crowe-horwath-may-have-worst-pcaob-inspection-report-yet

The importance of relationships

between auditors and audit committees and CFOs are highlighted in this article that summarizes a recent PCAOB report in which re-educating about the PCAOB inspection process was part of the aim.   Also the article highlights discussion from an AICPA forum.    http://www3.cfo.com/article/2012/8/auditing_pcaob-audit-rotation-audit-committee-aicpa

Cybersecurity

Mobile and cloud presents risks along with the opportunities  http://www.journalofaccountancy.com/Issues/2012/Aug/20125900.htm

Confidentiality of client information is key

This article has 7 elements to help CPAs in the area of ensuring privacy   http://www.journalofaccountancy.com/Issues/2012/Aug/20125580.htm