Sarbanes-Oxley

Section 404

Seminar Overview

 

 

Organizations, large and small are gaining a better understanding of their financial information as the result of complying with Sarbanes-Oxley.  Involvement by boards of directors, audit committees, all levels of management, auditors – internal and external, financial staff and others has brought a heightened awareness of controls and business risks.

 

Discussions of this seminar focus on:

 

ü      Requirements of section 404, Sarbanes-Oxley Act on

 

o       Organizations

o       Public Accounting Firms

 

ü      Report on Internal Controls by management – information required

 

The methodology used by organizations to conclude and report on the adequacy of controls as required by the “Act” has to be a recognized framework established by a body or group.  COSO, which meets the definition, will be discussed, including:

 

ü      “Factors” to be considered when evaluating controls

 

ü      Various issues, policies, etc. that can be “Focused” on in determining if each “Factor” is present and functioning

 

ü      Drawing a conclusion as to the effectiveness of each “Component” (controls) established by COSO

 

The seminar also includes supplemental discussions pertinent to controls and Sarbanes-Oxley:

 

ü      Fraudulent financial reporting

 

ü      Responsibilities for controls – management, board, auditors

 

ü      Business risks, etc.

 

The seminar will enhance control awareness levels to facilitate the identification and evaluation of controls and risks as required by Sarbanes-Oxley Act.