90’s High 5 for Auditors

Richard Chambers, the president and CEO of the IIA, noted 5 defining events and their impact on internal auditing in the 90’s decade.

  1. Adoption of the Professional Practices Framework (2002)
  2. Financial Fraud and the Ensuing Corporate Failures (2002)
  3. Cynthia Cooper Named a Time Magazine “Person of the Year” (2002) – whistleblower at WorldCom (I had to look it up myself)
  4. Release of The PCAOB’s Auditing Standard Number 2 (2004) – which was then superseded by AS 5
  5. Global Economic Crisis (2008-2009)

Catch all his comments here. I think #2 is going to keep occurring with surprising regularity.

Leave a comment

Filed under Audit

Leave a Comment

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s