CROWE UNVEILS APP FOR ARRA

Oak Brook, Ill. - Crowe Horwath has released an application that aids state and local agencies in tracking spending of stimulus funds from the American Recovery and Reinvestment Act. The firm's Award Monitoring and Reporting is a Web-based system that serves as a centralized database where recipients can collect the information they need for compliance with grant requirements.

It features questions to collect the required ARRA data and allows customized questions tailored to fit the specific program data collection needs. Designated individuals from the entities receiving federal stimulus funds can request that their sub-recipients complete performance reports. For more, visit www.crowehorwath.com/amr.

INTERNAL AUDIT STAFF IMPACTED BY RECESSION

Altamonte Springs, Fla. - The staffing level of internal audit departments was hurt badly by the recession, but the worst might be over, according to a new survey.

The Institute of Internal Auditors polled 817 of its members and found that 23 percent of internal audit activities experienced staff reductions during 2009. However, that percentage is projected to drop to 12 percent next year.

Internal audit departments have experienced staff reductions since 2008, with 2009 showing the greatest impact. The cuts didn't go as deep in Fortune 500 companies - where the average reduction was only 12 percent of staff, compared to an average cut of 21 percent in the overall survey population - but the staff reductions were more widespread. Thirty-four percent of the Fortune 500 companies reported reductions in 2009, whereas only 23 percent of the total survey population experienced reductions.

On the bright side, 17 percent of the survey respondents actually increased their internal audit staffing during 2009, while 60 percent maintained their staffing level. That number is projected to trend slightly upward, with 18 percent projecting a staffing increase next year, and 70 percent saying that they will maintain the same number of staff.

Register or login for access to this item and much more

All Accounting Today content is archived after seven days.

Community members receive:
  • All recent and archived articles
  • Conference offers and updates
  • A full menu of enewsletter options
  • Web seminars, white papers, ebooks

Don't have an account? Register for Free Unlimited Access