عرض العناصر حسب علامة : Big Four
الثلاثاء, 31 يناير 2023 08:26
RSM العالمية تسجل إيرادات عالمية بقيمة 8 مليارات دولار
أصدرت RSM International هذا الأسبوع نتائجها المالية لعام 2022 وأطلقت برنامجًا للنمو والتحول بهدف تحقيق نمو بنسبة 100٪ في الإيرادات بحلول نهاية العقد.
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محاسبة و مراجعة
الخميس, 20 أكتوبر 2022 11:37
صالح وبرسوم وعبد العزيز تعلن انضمامها الى جرانت ثورنتون
توصلت شركة Grant Thornton International Ltd المحدودة إلى اتفاقية مع شركة صالح وبرسوم وعبد العزيز ليتم قبولها كشركة عضو في الشبكة في مصر، اعتبارًا من 2 ديسمبر 2022.
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محاسبة و مراجعة
الأحد, 03 يوليو 2022 09:25
بسبب الغش في امتحان الأخلاقيات غرامة تاريخية على ارنست آند يونغ
فرضت السلطات الأميركية غرامة تاريخية على شركة المحاسبة "إرنست آند يونغ" بقيمة 100 مليون دولار بعد اكتشف المنظمون الحكوميون أن الشركة كانت تعرف أن بعض مدققي حساباتها كانوا "يغشون في امتحانات" الأخلاقيات لعدة سنوات ولم يفعلوا شيئا لوقف هذا التصرف.
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موسومة تحت
الإثنين, 27 سبتمبر 2021 10:34
برايس ووترهاوس كوبرز تضيف 100 ألف وظيفة!
تستثمر شركة برايس ووترهاوس كوبرز 12 مليار دولار عبر أعمالها العالمية في إصلاح شامل يستهدف عمليات تدقيق أفضل
معلومات إضافية
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المحتوى بالإنجليزية
PwC to add 100K jobs in $12B strategic revamp
PricewaterhouseCoopers LLP is investing $12 billion across its global business in an overhaul targeting better audits, digitization of services and greener operations.
The professional-services provider will hire 100,000 employees and develop the skills of existing staff over the next five years as it seeks to respond to the post-pandemic operating environment, it said in an emailed statement on Tuesday.
“We will continue to evolve our ways of working, and expand our capabilities in the areas that matter most for the future, while remaining steadfast in our commitment to quality,” PwC Chairman Bob Moritz said. “We want our people to be the most sought after in the market.”
Auditors are grappling with managing quality amid a shift in ways of working introduced by the COVID-19 pandemic. The International Auditing and Assurance Standards Board has revised standards for auditors, coming into effect in 2022, to boost technology use, help manage new risks, and improve quality management.
PwC is also seeking ways to address growing calls for transparency in the profession from stakeholders after several accounting scandals among the Big Four auditing firms knocked public trust. In South Africa, for example, KPMG has put in place a variety of reforms after it came under fire in 2017 for work done for a politically connected family accused of plundering the government’s coffers.
The South African unit of PwC will add at least 2,500 new employees over the next five years, Chief Executive Officer in the region Dion Shango told reporters in a conference call. Across Africa, where it has a presence in 34 countries, the firm plans to bulk up its operations with a $400 million investment. The company is also interviewing for non-executive directors to strengthen audit oversight.
PwC has also set aside $3 billion of its total global investment to help double the scale of its Asia-Pacific operations, it said. The firm’s spending will also focus on responding to environmental, social and governance trends across its operations.
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الأربعاء, 25 أغسطس 2021 17:57
التوظيف من أجل النجاح
حفز الدور الرئيسي للتدقيق الداخلي في معالجة التهديدات الرقمية الحاجة إلى خبرة في مجال الأمن السيبراني في فريق التدقيق.
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المحتوى بالإنجليزية
Internal audit's key role in addressing digital threats has spurred the need for cybersecurity expertise on the audit team.
Geoffrey NordhoffAugust 24, 2021Comments
Organizations are moving gingerly into the post-pandemic world with a heightened focus on cybersecurity, with overall cybersecurity spending projected to grow as much as 10% this year, according to IT research firm Canalys. Regulators — already concerned about cybersecurity — have ratcheted up their oversight, vividly illustrated by the U.S. Office of the Comptroller of the Currency's $80 million fine against Capital One last year (see "Capital One Data Breach" below). In fact, cybersecurity was one of the top-ranked risks identified by board members, management, and chief audit executives (CAEs) in The IIA's OnRisk 2021 report.
In this environment, internal audit, as part of its oversight function, has a critical role of helping organizations manage cyber threats by evaluating risks and providing an independent assessment of controls. In turn, this role has spurred the need for cybersecurity skills in internal audit functions.
The heightened concern around cybersecurity has inevitably increased the demand for suitably experienced auditors, says Jamie Burbidge, founder of Bickham Montgomery, a London-based internal audit recruiting firm. "Due to cybersecurity being a relatively recent concern for business leaders, the number of internal auditors at the senior level with relevant experience is quite small," he noted. At present, potential internal audit hires who have the experience and a good grasp of cybersecurity likely are coming from the Big Four accounting firms at slightly more junior levels.
Regardless of the talent source, experts point to several skills and qualifications to look for when hiring. They also cite the importance of soft competencies, the need to plan ahead for resource needs, and the advantages of developing skills internally.
The Right Expertise
Shawna Flanders, director, IT Curriculum Development, at The IIA, says two general skills are important for internal auditors who will be involved in cybersecurity audits: data analysis capabilities and critical thinking. "Deploying critical thinking skills gives auditors the ability to determine how a cyber threat in the wild could impact their organization," Flanders says. Plus, they need to be able to use data to discover unusual activity, inappropriate access, and fraud, and possess a broad understanding of IT general controls as well as application, network, and information security controls, she adds.
In addition, practitioners need to have a deep understanding of relevant threats, such as malware, ransomware or spyware, denials of service, phishing, and password attacks. Given the demands, internal audit functions should consider building dedicated expertise on their team, says Jim Enstrom, senior vice president and CAE at Cboe Global Markets of Chicago. The type of person who can fill this role probably has come up through a technology, cybersecurity, or consulting background, rather than internal audit, he adds.
Ongoing training and an emphasis on more technical cybersecurity-related certifications should also be a focus area, Enstrom says. Certifications demonstrate a basic level of aptitude and indicate that a person is motivated for self-improvement and self-learning. The IIA offers several seminars on IT topics, including cybersecurity, as well as more than a dozen IT courses on-demand. In mid-July, The Institute launched its IT General Controls Certificate, demonstrating the certificate holder's ability to assess IT risks and controls.
In addition, more universities are offering advanced degrees in cybersecurity, in which students also are learning the principles of assurance, as well as how to evaluate controls and risk. For example, the University of Central Florida in Orlando, which offers a certificate in cybersecurity, will begin offering a master's degree in cybersecurity and privacy this fall that will include a technical track covering topics such as hardware, software, and security, and an interdisciplinary track that addresses the human aspects of cyberattacks. These types of programs are an opportunity for recruiting, Enstrom says.
Robert Berry, former executive director of internal audit at the University of South Alabama and now president of consulting firm That Audit Guy, says hands-on experience in cybersecurity is important in considering a hire. Berry says he would look for someone experienced in technology, especially with experience in how networks operate and are secured. "You want to look for somebody who is actively engaged and involved in the craft," he adds — the kind of person who builds his or her own network and tinkers with it, and who is active in chat rooms and forums.
Capital One Data Breach
The U.S. federal government's enforcement actions against Capital One in August 2020, which included an $80 million fine from the Office of the Comptroller of the Currency (OCC), illustrates its increased oversight of cybersecurity issues. The actions stemmed from a 2019 cyberattack that stole the personal information of about 100 million individuals. The OCC fine was the first significant penalty against a bank in connection with a data breach or alleged failure to comply with OCC guidelines. The OCC specifically called out Capitol One's internal audit function, saying it failed to identify numerous control weaknesses and gaps and did not effectively report them to the audit committee.
Training, Sourcing, and Collaboration
Rather than hiring from outside, developing skills internally is sometimes a better option, especially in small- to moderate-size departments, Berry says. That way, the auditor is already familiar with the organization and with the procedures involved in conducting engagements, he explains. This approach also might be advantageous for a small department in an industry that does not pay well, which likely will have a hard time recruiting cybersecurity expertise, Berry adds.
In a midsize department or a midsize organization with a small audit department, audit staff might not have the necessary IT knowledge. Keeping in mind The IIA's International Standards for the Professional Practice of Internal Auditing, the organization might consider a co-source provider, Enstrom says, adding that training, skill building, and certifications also are important for these departments. In addition, where the Standards allow, internal audit should consider collaboration with the organization's information security department, he says. Standard 1210: Proficiency, and Standard 2050: Coordination and Reliance, provide guidance in these areas.
Seek Out Soft Skills
"Curiosity is the cornerstone of internal audit," Berry says. "If you can't be curious and ask really good questions, you will fail in your career in audit." Soft skills are probably the most important skills, he says, because a person who possesses them can be taught audit skills. Critical thinking and other soft skills give internal auditors, especially those dealing in a technical area such as cybersecurity, the ability to communicate outside their area and to understand how a cyber threat could affect the organization.
When he started Bickham Montgomery about 10 years ago, Burbidge found that technical proficiency was by far the most sought-after trait for companies when hiring internal auditors. Now, he sees more emphasis on communication skills as part of an internal auditor's role. "You need to be able to communicate, need to be able to persuade, need to be able to partner with the business," he says.
Jeannie Alday, director of Internal Audit for Chatham County, Ga., says in hiring someone with an IT background, she wants to determine whether the candidate will be able to communicate with IT staff, and IT management, but also with county management and others who may have limited background in IT. "Those soft skills are huge, and they're not always easy to spot in the limited interview process," Alday says.
Looking Ahead on Hiring
Given the rapidly changing environment, cyber awareness is fundamental to the execution of an organization's strategy. "In any organization today, cybersecurity is one of the top risks," Enstrom says. In the present environment, boards, management, and other stakeholders need to focus continually on cyber risk and whether their organization has the right skills and resource strategy, he says. Importantly, organizations need to make necessary investments in skills and resources.
Post-pandemic, hiring likely will become more challenging because of pent-up demand, Enstrom says, and demand already exceeds the number of candidates. As a result, audit hiring managers should think more creatively about compensation and other job benefits. He also notes that many cybersecurity professional have had limited exposure to internal auditing and assurance, may see auditing as having limited opportunity for advancement, and might not consider going into the field.
This perception underscores the necessity of selling the opportunities and value proposition of the profession to prospective job candidates. Compared with going directly into information security, internal audit offers the potential for greater diversity of experience and breadth of opportunity — working with senior executives and board members — and exposure to different projects, Enstrom says. Moreover, because of the importance of good communication skills, time spent in internal audit can be a great learning opportunity for someone who is less comfortable in this area.
"Early in a person's career, working in internal audit really represents a great learning opportunity because you have so many different projects you can work on," Enstrom says. "I think we don't sell that enough as a profession."
As another area of focus for hiring, Enstrom emphasized the importance of partnering with outside firms, or organizations that can help with the candidate sourcing process. He highlights one example — the Greenwood Project. "The Greenwood Project is a nonprofit organization dedicated to introducing Black and Latinx students to careers within the financial industry," he says. "We've had success working with Greenwood Project and we continue to look for ways to strengthen our relationship and promote the profession of internal auditing to Greenwood students and diversity candidates. In addition to accounting and business students interested in financial services, we have been working with Greenwood to promote an interest in IT audit, data analytics, and cybersecurity roles in the internal audit profession."
Meanwhile, when recruiting through universities, internal audit functions need to look beyond the accounting and finance departments and build relationships with computer science and cybersecurity programs. "In my experience, many students in computer science or other IT disciplines are unaware of job opportunities in the internal audit profession," Enstrom says. "Given this, it's really important for the company and recruiter to understand and have relationships with faculty and staff in these colleges, not just the business schools."
The bottom line? "You have to offer competitive salaries, and you have to be very clear and crisp in your value proposition — how internal audit will benefit them in their career," Enstrom says. Moreover, companies recruiting in the post-COVID-19 marketplace will need to think more broadly and consider hiring candidates from outside their geographic area.
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الثلاثاء, 24 أغسطس 2021 14:40
تقارير برايس ووترهاوس كوبرز حول أحدث جهود جودة التدقيق
أصدرت شركة برايس ووترهاوس كوبرز تقرير جودة التدقيق لعام 2021 يوم أمس الإثنين، مشيرة إلى التقدم الذي حققته الشركة فيما يتعلق باستقلالية المدقق، إلى جانب قضايا مثل التنوع والشمول.
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المحتوى بالإنجليزية
PwC reports on its latest audit quality efforts
By Michael Cohn
August 23, 2021, 3:55 p.m. EDT
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PricewaterhouseCoopers issued its 2021 audit quality report Monday, pointing to progress that the Big Four firm has been making on auditor independence, along with issues such as diversity and inclusion.
PwC reported that 98% of its assurance professionals received consistent messaging on the importance of audit quality, and 97% understand the firm’s audit quality objectives. The Public Company Accounting Oversight Board inspected 58 of PwC’s audits in the most recent inspection cycle, and the firm anticipates that only one of the audits will be singled out in Part 1.A of the report, which spotlights significant deficiencies. In the most recent PCAOB report for 2019 inspections, 18 audits out of 60 inspected were included in Part 1.A (see story).
PwC also pointed to a 96% compliance rate of issuer audit engagements selected for internal inspection by the firm. The number of issuer audit engagements selected for internal inspection was also 96. Audit partners’ average years of experience at PwC is 23 years.
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The report comes at a time when large audit firms have come under fire for lapses in quality. In response, PwC has begun offering regular reports on its progress on audit quality, issuing an updated report earlier this year in January (see story).
PwC has also been contending with the other challenges brought by the pandemic over the past year and a half, which has forced many auditing firms to operate remotely.
“It’s been well over a year since the onset of the COVID-19 pandemic,” said PwC U.S. trust solutions co-leader Wes Bricker in a video accompanying the report. “We’re pleased with how, in an unprecedented circumstance, our audit teams have continued to deliver and to meet the needs of our clients and of our stakeholders. The pandemic highlighted for us just how vital the forward-thinking aspects of our strategy are to the continued success of our people and of our firm.”
PwC building on Park Avenue in New York.
The firm has also been making efforts to increase diversity, equity and inclusion under U.S. chairman and senior partner Tim Ryan. The percentage of women partners is 24% while the percentage of racially and ethnically diverse partners is 17%. In terms of employees, 49% are women and 36% are racially and ethnically diverse. The report also noted that PwC has become increasingly focused on environmental, social and governance reporting, working with other organizations and regulators to develop or improve ESG-related metrics and disclosures.
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الأربعاء, 21 سبتمبر 2022 12:50
استقالة رئيس شركة كي بي ام جي في المملكة المتحدة بعد أيام من انتقاده للموظفين
استقال رئيس شركة KPMG في المملكة المتحدة بعد أيام من إثارة غضب واسع النطاق لإخباره الموظفين بالتوقف عن الشكوى من الوباء
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المحتوى بالإنجليزية
KPMG U.K. chair resigns days after slamming ‘victim card’ staff
By Michael Kapoor
February 12, 2021, 1:38 p.m. EST
KPMG’s U.K. chairman has resigned days after sparking widespread anger for telling employees to stop moaning about the pandemic.
Bill Michael, KPMG’s U.K. chair and senior partner since 2017, will leave the firm at the end of the month, admitting that his position had become “untenable.”
He had been placed under investigation after telling KPMG’s financial services consulting team to “stop moaning” and “playing the victim card” when employees voiced concern over possible cuts to their pay and pensions at a virtual meeting Monday.
Sean Gallup/Getty Images
“I love the firm and I am truly sorry that my words have caused hurt amongst my colleagues and for the impact the events of this week have had on them,” Michael said in an emailed statement Friday. “In light of that, I regard my position as untenable and so I have decided to leave the firm.”
Michael stepped aside from his position as chair on Wednesday for the duration of the investigation and apologized for his comments.
“It’s further evidence of a bullying culture and Bill Michael won’t be the only example of that,” said Prem Sikka, an accounting professor at Sheffield University. “They need to mend the culture and concentrate on improving audit quality rather than bullying staff.”
The pandemic has taken a toll on all professional services firms. KPMG said earlier this month that its partner profits would fall by 11 percent and it said in July, that it would cut as many as 200 jobs from its U.K. workforce.
Senior elected board member Bina Mehta has been named acting U.K. chair, with KPMG saying it would “undertake a leadership election in due course.” Mary O’Connor, KPMG’s head of clients and markets, will take over Michael’s role as senior partner.
“Bill has made a huge contribution to our firm over the last 30 years, especially over the last three years as chairman, and we wish him all the best for the future,” Mehta said.
The move comes as the so-called Big Four accounting firms have faced increasing criticism in Europe. Auditors are under greater scrutiny than ever after a series of high-profile lapses in recent years, with EY’s role in the collapse of German payments provider Wirecard AG now under the microscope.
In the U.K., KPMG has faced fierce criticism over its auditing of Carillion Plc, whose collapse prompted the government to launch a series of inquiries into auditing standards.
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الإثنين, 14 ديسمبر 2020 12:09
فرص كبيرة وسط تحديات COVID-19
توجد فرص كبيرة وسط تحديات COVID-19
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الأربعاء, 11 نوفمبر 2020 14:06
KPMG تعلن عن خططها لتكون خالية من الكربون بحلول عام 2030
KPMG تعلن عن خططها لتكون خالية من الكربون بحلول عام 2030
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الأربعاء, 21 سبتمبر 2022 09:24
الشركات الأربع الكبرى تطلق مقاييس تقارير ESG مع المنتدى الاقتصادي العالمي
تطلق الشركات الأربع الكبرى مقاييس تقارير ESG مع المنتدى الاقتصادي العالمي
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