Audit

Regulatory Missteps Uncovered in Credit Suisse Investigation: Swiss Authority Under Fire

3 days ago

The Swiss Financial Market Supervisory Authority (FINMA) has recently come under intense scrutiny following a damning report by the Swiss Federal Audit Office (SFAO), which uncovered serious flaws in the regulator's handling of the investigation into Credit Suisse. The findings reveal a series of blunders that not only hindered effective oversight but also compounded the difficulties faced by the troubled bank during a tumultuous period leading up to its historic merger with UBS in 2023.

IMF Set to Dispatch Corruption Audit Team to Kenya in Early 2025

13 days ago

In a significant move to address growing concerns over corruption, the International Monetary Fund (IMF) has announced that it will send a specialized audit team to Kenya early in 2025. This initiative comes on the heels of increasing scrutiny regarding fiscal management and malfeasance in government spending, which have raised red flags among international financial institutions and stakeholders alike.

Top UK Treasury Official Dismisses Legal Breach Allegations Amid Growing Scrutiny

2 months ago

A senior official from the UK's Treasury has categorically refuted allegations suggesting that the department acted unlawfully in its fiscal policies and operations. This assertion comes during an increasingly intense examination of government financial management as the UK navigates through economic challenges.

KPMG Reduces U.S. Audit Workforce by 4% Amid Persistent Low Turnover Rates

2 months ago

In a significant move aimed at addressing ongoing workforce challenges, KPMG has announced a reduction of its United States audit staff by 4%. This decision comes as the firm grapples with an exceptionally low turnover rate that has put a strain on its operational flexibility and client engagement capabilities. The global professional services firm, known for its comprehensive audit, tax, and advisory services, has acknowledged the necessity of recalibrating its workforce to remain competitive and responsive to market dynamics.

Malaysian PM Initiates Audit of Sovereign Fund's Troubling Investment

2 months ago

In a significant move aimed at increasing accountability and transparency, Malaysian Prime Minister Anwar Ibrahim has directed a comprehensive audit of the country’s sovereign wealth fund following revelations of substantial losses tied to a controversial investment venture. This decision comes in the wake of growing scrutiny over the management of these public assets, particularly in sectors that are reportedly underperforming.