House Considers Audit of Online Insurance Portal Problems

U.S. News

The department estimated the platform would cost $300 million, but Morneau Shepell came in at 30 percent that cost. State law requires vendors providing goods or services to the government to submit plans to ensure 20 percent participation in the contract by minority- or women-owned establishments under the Business Enterprise Program. But documents indicate that department employees were "directed to move forward without the inclusion of a BEP goal."


Tone at the Top Newsletter Audit Executive Center

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Like any algorithm- and data-driven process, artificial intelligence (AI) presents internal audit with a clear role in ensuring accuracy and reliability. It is important that boards and other stakeholders understand stages in the AI life cycle where internal audit's focus can provide positive effect. How can the board best support the CAE's efforts to ensure that the internal audit team is prepared to provide assurance over AI and capitalize on its efficiencies in appropriate audit plans and activities?


Trump won't release tax returns while under IRS audit, aide says

Los Angeles Times

Donald Trump's new campaign manager said Sunday that the GOP nominee will not release his income tax returns to the public until an Internal Revenue Service audit is complete. It was a reversal for Kellyanne Conway, who was named Trump's campaign manager on Wednesday. Earlier this year, the Republican pollster and strategist had urged Trump to release his tax returns. "I've learned since being on the inside that this audit is a serious matter and that he has said that when the audit is complete, he will release his tax returns," Conway said Sunday on ABC's "This Week." No law prevents Trump from releasing his returns during an audit, which could take years.


Audit innovation drives private company performance

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In a featured byline in Accounting Today, Deloitte partners Roger Nanney and Jon Raphael address how cutting-edge technology and innovation are transforming the audit, yielding broader, and deeper business insights, streamlining the audit process, and significantly reducing the manual data collection and processing that have traditionally made audits so labor-intensive and time-consuming. Innovative tools like workflow automation, artificial intelligence, and data analytics are driving audit quality to new heights and generating valuable insights that can help private companies address risk more effectively and enhance business performance overall.


ICO to audit Leave.EU and Eldon Insurance

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The Information Commissioner's Office (ICO) is to review how an EU referendum campaign and an insurance company are complying with data protection laws after fining the organisations a total of £120,000 for serious breaches of electronic marketing laws. The ICO announced an audit and issued a preliminary enforcement notice as well as three notices of intent to fine Leave.EU and Eldon Insurance – trading as Go Skippy Insurance – in November 2018 as part of its investigation into data analytics for political purposes. After considering the companies' representations, the ICO has issued the fines, confirming a change to one amount, with the other two remaining unchanged. The regulator has also issued two assessment notices to Leave.EU and Eldon Insurance to inform both organisations that they will be audited. The ICO investigation found that Leave.EU and Eldon Insurance were closely linked and that systems for segregating the personal data of insurance customers from that of political subscribers were ineffective.