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Framework for Sarbanes-Oxley Compliance Training Class
Course ID: 12950
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Framework for Sarbanes-Oxley Compliance Training Seminar
At ARC, profit-enhancement is the name of the game!! Any actions the organization takes should be focused toward giving the shareholders and stakeholders more for their money. This interactive program goes far beyond the basics of SOX and internal controls. You will learn how to make compliance with SOX a truly value-added investment. You will learn how controls are the organization's key to profitability. In business there are two ways of performing a task; the right way, and again.
Through the effective evaluation and strengthening of the organization's control structure, your organization can both meet Section 404 Compliance requirements, and enhance profitability at the same time.
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Agenda |
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Program Agenda:
Day One
The International Business Environment
The key to effective evaluation of controls lies in the understanding of the environment in which the organization conducts business. This section discusses the role internal audit plays in today's world-focused business environment. We are all charged with doing more with less. You will gain a new perspective on the nature and structure of the organization, The Organizational Planning Framework??, the Product / Decision / Information Cycle??, and how the internal audit process fits into the new business model.
Sarbanes-Oxley Compliance
"SOX" is the new universal term in today's business environment. This legislation imposed sweeping reforms on the organization's requirements to attain and maintain an adequate and effective system of internal controls governing financial reporting. In this section, you will gain a total understanding of the requirements for compliance with all of the key sections of this law, including Sections 302, 401, 402, 403, and 404.
The Road Map to Effective Internal Control Evaluation
Section 404 of SOX requires the use of "a Structured Approach" to internal control documentation and evaluation. This section provides you with Nine-Step Framework??, developed by the founders of The ARC Consulting Group, Inc., and was used by the Treadway Commission as the basis of the Integrated Approach as outlined in the COSO report. This Framework is in place in many of today's Fortune?? 100 companies, and gives you a roadmap to performing internal control reviews of any environment.
Day Two
Focusing The Investment in Controls
Controls for the sake of control adds no value to the organization. This section gives you a sound structure within which the objectives of the control structure are designed. Using proven techniques, you will learn how to develop risk-based objectives for the control evaluation project, and how to develop a consistent methodology for defining Key Controls.
Internal Audit and The Internal Controls
Internal controls are one of the most misunderstood concepts in business. This section provides a clear -cut understanding of what controls are, how they operate within the business process, and how they are a profit-oriented tool. You will discuss the control structure, the Self-Correcting Internal Control Model??, what controls do, and where they live.
Documenting and Evaluating Internal Control Systems
This section shows you how to effectively and efficiently document the key aspects of the business process being evaluated, and a structured process within which to evaluate its adequacy and effectiveness. Through the use of a set of pro-forma workpapers, you will learn how to inter-relate the activity performed, the risk that activity presents, the strategic purpose of the activity and the relative strength of the control in place to mitigate the risk.
Day Three
Documenting Internal Control Testing and Effective Sampling Techniques
Audit evidence is the medium used to support the conclusions and recommendations offered in the audit report. In this section, you will learn how to develop compliance and substantive tests, understand the various evidence collection techniques, develop audit workpapers, and how to develop and evaluate attribute samples.
Effective Interviewing Techniques
Communication is the backbone of any endeavor. The ability to talk with people and convey ideas, plans, benefits, and expectations is essential in the audit world. This section will give you the skills you need to communicate on an effective level, and establish a dialogue with the process owners. You will learn how to plan meetings, establish a sharing environment, and gain critical information.
The Internal Control Evaluation Report as a Business Plan
The effectiveness of the internal control evaluation project is measured in the benefits offered to the process owner. The evaluation report is a business plan. A proposal to management for the enhancement of profits. This section will give you the tools, structure, and concepts essential to present your ideas in a way that gets attention! |
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Audience |
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All financial professionals, financial management, department heads, internal auditors, project managers, and those responsible for ensuring the effective use and management of corporate resources. In addition, sales and marketing professionals, R&D professionals, and anyone who needs to understand how controls are the key to enhanced organizational performance.
Participants should have a basic understanding of financial statements and bring a laptop computer with a full install of Excel??, including the complete "Toolbox
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Framework for Sarbanes-Oxley Compliance Training Course Dates and Locations
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Course ID: 12950
| Course Duration: 3 Days
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Locations: |
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