Sarbanes-Oxley Training - United States

Sarbanes-Oxley Certified Professional Course Outline

Module 1: Sarbanes-Oxley Act

• Overview
• Sarbanes-Oxley Act: Background
• Sarbanes-Oxley Act: Purpose
• US Federal Legislation
  • Financial Reporting
  • Corporate Governance
• Sarbanes-Oxley Act of 2002-Key Sections

Module 2: Finance Auditing

• Securities and Exchange Commission (SEC)
• Electronic Data Gathering, Analysis, and Retrieval (EDGAR) System
• Public Company Accounting Oversight Board (PCAOB)
• Standing Advisory Group (SAG)
• Define Auditing
• Financial Audit
• PCAOB Auditing Standards
• Difference Between SOX and SOC
• SOX and SOC Auditing
• Management’s Testing
• Management’s Documentation
• Reports used to Validate SOX Compliant IT
• Infrastructure
• Documentation Issues
• Sections
  • Section 302
  • Section 404
  • Section 906
• Management’s Responsibilities

Module 3: Committees

• Committees and Teams
• Project Team
• Steering Committee
• Committee
• Disclosure Committee
• Certifying Officers and Audit Committee
• Control Deficiency
• Deficiency in Design
• Significant Deficiency
• Material Weakness
• Deficiency or Material Weakness?
• Reporting Weakness and Deficiencies

Module 4: Examples

• Example/Case Study
• Public Disclosure Requirements
• Real-Time Disclosures on a Rapid and Current Basis
• Companies Affected
• Whistle-Blower Protection
• Rulemaking Process
• Securities Act of 1933
• Securities Exchange Act of 1933
• Investment Company Act of 1940
• Dodd-Frank Wall Street Reform and Consumer Protection Act
• Rulemaking Process
• SOX - International Concerns
• Foreign Private Issuers (FPIs)
• American Depository Receipts (ADRs)
• Types of ADRs
• Employees Effected and Effective Dates

Module 5: Internal Controls – COSO

• Overview
• Using the COSO Framework Effectively
• Control Environment
• Risk Assessment
• Context - Input
• Context Tasks
• Control Activities
• Information and Communication
• Monitoring Activities
• Effectiveness and Efficiency of Operations
• Reliability of Financial Reporting
• Compliance with Applicable Laws and Regulations
• IT Controls
• IT Controls and SOX Relevance
• System Development and Change
• Systems Development: Auditing Objectives
• Systems Development IC
• Types of IC
• Layers of Overlapping Controls

Module 6: COSO Enterprise Risk Management

• Risk Management
• Risk Treatment Plan
• Managing Incidents
• Business Continuity
• Information Security
• Financial Risk Management
• Enterprise Risk Management
• Implementing Enterprise Risk Management
• Structure of the Business Organisation
• Integrating Across Perspectives
• ERM Framework
• Is COSO ERM Needed for Compliance?
• Success Factors
• Internal Environment
• Objective Setting
• Event Identification
• Risk Assessment
• Risk Response
• Control Activities
• Information and Communication
• Monitoring
• ERM: Implementation
• Fraud Risk
• Chief Risk Officer
• COSO ERM Cube
• COSO IC Cube
• Objectives
• Evaluating ERM
• ERM: Alternative Uses
• ERM: Application Techniques
• Core Team Preparedness
• Implementation Plan
• Likelihood Risk Ranking
• Impact Risk Ranking