FIFA Appoints New Audit and Compliance Committee Chairperson - Part 4

Posted by Alexa Foxon Wed, Jul 06, 2016 @ 11:57 AM

Just a few months ago, FIFA's Chief Internal Auditor, Scala, stepped down for various reasons (here). Today, FIFA's council appointed Tomaz Vesel  as the independent chairperson of FIFA’s Audit and Compliance Committee. Mr Vesel currently serves as President of the Court of Auditors in Slovenia having been elected by the National Assembly of the Republic of Slovenia in 2013.

“The appointment of Mr Vesel as independent chairperson of FIFA’s Audit and Compliance Committee is an important development in the ongoing effort to strengthen FIFA’s governance and compliance systems,” said FIFA President, Gianni Infantino. “This is a vital role within the organization and Mr Vesel’s audit expertise and international experience will help reassure stakeholders and restore trust in FIFA.”

There is still no word about any new external auditor since KPMG stepped down last month. FIFA is still cleaning up a large mess with U.S officials. More than 40 people have been charged with crimes including racketeering and money laundering since the 2015 scandal and recent hidden bonus information. Stay tuned for details about FIFA's upcoming new external auditors. 

To veiw the full story from FIFA, click here.

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Tags: audit, internal audit, fifa, fraud, money laundering, fbi

Hong Kongs SFC Fines Company $2.7 Million

Posted by Alexa Foxon Tue, May 31, 2016 @ 11:27 AM
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Tags: Internal Controls, best-practice, internal audit, Hong Kong, deficiencies, future trading, SFC, China, Fined, compliance, Compliance in China, accounting, securities and futures commission, short sales, internal controls failures

The Power of Optimizing Your Internal Controls

Posted by Guthrie Chenon Mon, May 26, 2014 @ 03:00 PM

Let’s face it, dealing with internal controls from time to time can be a headache and can certainly get out of hand. The power of an organized internal control structure yields a plethora of benefits in terms of cost efficiency, reduced workload, fewer headaches, and happier employees – You know what they say, Organized People Play™.

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Tags: Internal Controls, segregation of duties, control reduction, SOX, auditing standards, audit costs, Controls Testing, SOX Compliance Made Simple, internal audit, Process Improvement, software, sox compliance, internal control, Sarbanes-Oxley, Vibato, audit scope, internal control tips

COSO 2013 Best Practices - What are they?

Posted by Teresa Bockwoldton Wed, Apr 30, 2014 @ 09:43 AM


Here is a great story about our customers experience with trying to switch from COSO 1992 to COSO 2013.
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Tags: Sarbanes-Oxley Articles & Information, Accounting Tip of the Day, audit, best practices, internal audit, sox compliance, Sarbanes-Oxley, COSO, COSO 2013, corporate governance

Should Internal Audit Report to the Audit Committee Directly?

Posted by Alex Roweon Wed, Apr 10, 2013 @ 08:36 AM
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Tags: audit, SOX, auditing standards, audit committee, best practices, internal audit, IIA, Institute of Internal Auditors, Sarbanes-Oxley, audit scope, Richard Chambers