British regulators mull the future of audit

AUDITS EXIST to shore up trust in financial statements. Investors look to professionals to tell them whether companies’ managers are squandering their money. What happens when trust in auditors evaporates? Britain provides an illustration. The country has seen a spate of high-profile company failures in the past year, most notably that of Carillion, a construction […]

Video game loot boxes are creating underage gambling addicts – UK audit

An audit by the UK Gambling Commission says that pushing players to buy chance-based items in video games has lead to a startling spike in gambling addiction among children. The alarming audit shows (scaling the survey results to UK population figures) some 55,000 children between the ages of 11-16 showcase telltale signs of gambling addiction, including […]

What is an audit for?

AUDITS get noticed only when things go wrong. Last week British MPs issued a scathing attack on KPMG, an auditor, for failing to avert the collapse of Carillion, a contracting company. South African authorities are looking into Deloitte’s audit of Steinhoff, a retailer. PwC, another auditor, could face a court-damages verdict for hundreds of millions […]

Facebook will conduct civil rights audit following bias allegations

Facebook has come under fire lately for accusations of racial and political bias, and it’s determined to address both of those claims head-on. The social media giant has committed to independent investigations that will scrutinize both its civil rights record and its alleged anti-conservative political bias. Civil liberties leader Laura Murphy will lead a civil […]

Tip: Always Audit Your Loyalty Program Accounts

Tip: Always Audit Your Loyalty Program Accounts Advertiser Disclosure The credit card offers that appear on the website are from credit card companies from which ThePointsGuy.com receives compensation. This compensation may impact how and where products appear on this site (including, for example, the order in which they appear). This site does not include all […]

In an audit of supply chain partners, Apple found increased labor violations in 2017

Enlarge / An iPhone assembly worker works with Apple supplier Pegatron in an image distributed by Apple. (credit: Apple) Each year, Apple releases a report called the Supplier Responsibility Progress Report detailing its audits of the labor practices of its suppliers around the world. Apple reports violations it finds at various categories of severity and […]

Child labor and debt bondage: Apple audit exposes ‘core violations’ of tech giant’s suppliers

Apple suppliers have breached the firm’s core labor rules 44 times in the last year, according to a new audit. The number of overall violations, which include debt bondage and underage employment, have doubled. The 2017 Supplier Responsibility Report includes 756 of the tech giant’s suppliers. Some 197 suppliers were audited for the first time. […]

Audit reveals Office of Fossil Energy approved millions for lobbying, spas

Enlarge (credit: Getty Images) The internal watchdog at the Department of Energy released an audit report (PDF) this month detailing profligate spending, approved by the Office of Fossil Energy, on a clean coal initiative that was supposed to result in a 400MW carbon capture-enabled plant. The Office of Fossil Energy had partnered with a private company called […]

US gold of low purity & that's why audit of reserves will never be allowed – expert tells RT

The United States doesn’t let anyone see its gold reserves. Even if the Treasury has the number of billions it claims, they are not tradable, warns Singapore’s BullionStar precious metals expert Ronan Manly. The US government claims to hold 8133.5 tonnes of physical gold in its official reserves. Fifty-eight percent is reportedly held in Fort […]