Read Richard Chambers' Latest Blog
FIFA Needs Internal Audit Now
In his blog, IIA President and CEO Richard Chambers, CIA, QIAL, CGAP, CCSA, CRMA, shares his personal reflections and insights on the internal audit profession. Here's an excerpt from his latest post:
In a July 9 letter, [Coca-Cola] urged FIFA to submit to an independent, third-party commission as the most credible way for it to approach its reform process. On July 17, McDonalds joined Coca-Cola and asserted, "We believe FIFA internal controls and compliance culture are inconsistent with expectations McDonald's has for its business partners throughout the world." The McDonald's statement added that FIFA, "should implement meaningful changes to restore trust and credibility with fans and sponsors alike. The world expects concrete actions and so does McDonald's."
These developments present yet more wake-up calls for the scandal-plagued organization that, by all appearances, has ignored a sea of red flags warning of major problems with its internal control processes. Whether FIFA responds to these high-profile demands from two of its premier sponsors remains to be seen.
Read the full InternalAuditor.org blog post from IIA President and CEO Richard Chambers.