SOX Identifying and Documenting Controls

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Learning Objectives

To explore the types and methods of internal controls.
To identify controls related to Initiation, Authorization, Processing, and Recording.
To identify the various methods of documentation, and recognize the differences between control narratives vs. control flowcharts.
To explore how to update and maintain documentation.

Course Description

No one can claim that SOX 404 compliance and developing a SOX controls compliance program is easy. We can say, however, that the overall process has become much easier after years of practice and an evolving understanding—by regulators, companies, auditors, and, yes, consultants—of what’s needed to create a solid internal control framework that reduces the risk of a material misstatement of the financial statements.

The process has opened up incredible efficiencies within companies as they discover during the identification and documentation of their Sarbanes-Oxley internal controls that there are much better ways of getting done. This applies to the operations within the finance department and beyond that have any effect on how financial information is processed, analyzed, and reported.

This online CPE course explores how Identifying and documenting controls for Sarbanes-Oxley is key to enabling the evaluation of process design. It will also ensure testing processes can be effectively executed. Assessors must have a strong understanding of the types and methods of internal controls. Documentation methods must meet organizational needs.

To identify controls, you must understand the concept of internal control. Internal control is a process designed to provide reasonable assurance regarding the achievement of objectives in the following areas: effectiveness/efficiency of operations; reliability of financial reporting; compliance with applicable laws/regulations; safeguarding of assets. You must also understand the types of control and the various methods of documentation.

This Auditing Webinar will cover the following key topics:

Understanding controls
Types of controls
Identifying controls
Initiation
Authorization
Processing
Recording
Determining what to document
Methods for documenting
Control narratives vs. control flowcharts
Updating and maintaining documentation

Webinar Qualifies For

2 CPE Credit of Auditing for Certified Public Accountants (CPA-US)
2 General Credit of Auditing for Accountant/Bookkeeper/Tax Professionals
2 CPE Credit of Internal Auditing for Certified Internal Auditors (CIA)
2 CPE Credit of Auditing for Certified Fraud Examiner (CFE)
2 CPE Credit of Auditing for Certified Management Accountants (CMA)
2 CPE Credit of Auditing for Certification in Risk Management Assurance (CRMA)
2 CPD Credit of Auditing for Certified Financial Forensics (CFF)
2 CPE Credit of Auditing for Certified Government Financial Manager (CGFM)
2 CPE Credit of Auditing for Certified Government Auditing Professional (CGAP)
2 CPE Credit of Auditing for Internal Audit Practitioner (IAP)
2 CPE Credit of Internal Controls for Certified Internal Controls Auditor (CICA)
2 CPE Credit of Auditing for Qualification in Internal Audit Leadership (QIAL)
2 CPE Credit of Auditing for Iowa Licensed Public Accountant (IA-LPA)
2 CPE Credit of Auditing for Maine Licensed Public Accountant (ME-LPA)
2 CPE Credit of Auditing for Delaware Licensed Public Accountant (DE-LPA)
2 CPE Credit of Internal Controls for Certified Controls Specialist (CCS)

About Instructor

Lynn Fountain, CRMA, CPA (US), CGMA, MBA

Owner, Lynn Fountain Consulting and Training

Lynn Fountain has over 39 years of experience spanning public accounting, corporate accounting and consulting. 20 years of her experience has been working in the areas of internal and external auditing and risk management. She is a subject matter expert in multiple fields including internal audit, ethics, fraud evaluations, Sarbanes-Oxley, enterprise risk management, governance, financial management and compliance. Lynn has held two Chief Audit Executive (CAE) positions for international companies. In one of her roles as CAE, she assisted in the investigation of a multi-million-dollar fraud scheme perpetrated by a vendor that spanned 7 years and implicated 20 employees. The fraud was formally investigation by the FBI and resulted in 5 indictments estimating a $13M fraud loss.

Ms. Fountain is currently engaged in her own consulting and training practice. She has successfully executed on several consulting assignments spanning areas of accounting, risk, ERM and internal audit. She is a highly sought-after trainer and international speaker and has produced hundreds of courses delivered through seminars, conferences and on-demand training. She is the author of three separate technical books.

Raise the Red Flag – The Internal Auditors Guide to Fraud Evaluations”.
Leading the Internal Audit Function
Ethics and the Internal Auditor’s Dilemma

Ms. Fountain obtained her BSBA from Pittsburg State University and her MBA from Washburn University in Kansas. She has her CPA, CGMA, CRMA credentials.

Additional Information

Duration

2 Hours

Course Level

Basic

Instructional Method

Group Internet Based

Pre-requisites

None

Advance Preparation

None

FAQ’s

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NASBA APPROVED

MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478

MY-CPE LLC (Sponsor Id#: 143597) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.NASBARegistry.org.

Ratings and Review

4.4

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Bryan Cheney, CPA (US)

Lynn always does a fantastic job of explaining things and making them usable.

Mary Nicks, CPA (US)

Great overview of internal control.

Chipo Shereni, CIA

It was a great presentation

Brenda Palmer, Accountant/Bookkeeper/Tax Professionals, CPA (US)

Great overall presentation

Ignacio Bravo, CPA (US)

Great presenter.

2 Credits

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Subject Area

Auditing

Completed

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Verification Code

SOX Identifying and Documenting Controls

Course Details

Learning Objectives

Course Description

Qualifies for

Webinar Qualifies For

Presenter Details

About Instructor

Lynn Fountain, CRMA, CPA (US), CGMA, MBA

Other Details

Additional Information

2 Hours

Basic

Group Internet Based

None

None

FAQ’s

NASBA APPROVED

Ratings and Review

4.4

Bryan Cheney, CPA (US)

Mary Nicks, CPA (US)

Chipo Shereni, CIA

Brenda Palmer, Accountant/Bookkeeper/Tax Professionals, CPA (US)

Ignacio Bravo, CPA (US)

Subject Area

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