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Global Institute of Internal AuditorsBreadcrumb SeparatorNewsBreadcrumb SeparatorBlog: Lessons From Toshiba: When Corporate Scandals Implicate Internal Audit

Read Richard Chambers' Latest Blog
Lessons From Toshiba: When Corporate Scandals Implicate Internal Audit

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:

Last week's high-profile resignations of CEO Hisao Tanaka and eight other Toshiba Corp. executives amid revelations of systemic and prolonged financial misstatements raise questions anew about Japan's corporate governance culture.

The venerable conglomerate, which makes everything from consumer electronics to nuclear energy technology, was under fire over accounting irregularities and had established an Independent Investigation Committee. That committee's report concluded that Toshiba overstated profits by 151.8 billion yen (US$1.2 billion) from 2008 to 2014.

Read the full InternalAuditor.org blog post from IIA President and CEO Richard Chambers.