Course Description
For many companies, Accounts Receivable is the largest or second-largest
asset on the balance sheet. This means that any weakness in the financial
controls for A/R could have a serious impact on the company’s financial
statements. As well, since Accounts Receivable departments interact with almost
every other department in the company, weak controls in A/R can lead to increased
risk in other areas.
The Sarbanes-Oxley Act of 2002 makes company executives of publicly traded
US companies are personally and criminally responsible for the accuracy and
reliability of the financial disclosures of their companies. They are required
to sign reports that attest to the effectiveness of
their companies’ internal controls, including foreign subsidiaries.
Many of these executives are "pushing down" the signoff of reports
that attest to the effectiveness of their companies’ internal controls, including
foreign subsidiaries. Credit professionals need to understand their
responsibilities under the Act before they sign off on the effectiveness of the
financial controls in their department.
This CPE webinar looks at specific issues affecting Credit and Accounts
Receivable, Including Credit Risk Management, the adequacy of provisions for
Bad Debt, Collection Procedures, and dependence on processes outside the credit, the department, and the company.
This online continuing education course will provide you with the tools you need to establish and
maintain strong internal controls in the A/R department that meet
Sarbanes-Oxley standards and reduce risk and protect company assets. There will
be opportunities for online discussions and questions.
This online Auditing CPE webinar covers the following key topics:
- How to establish financial controls for Credit and Accounts Receivable
- Establishing segregation of duties
- Setting up cash application controls
- Structuring bad debt reserves
- Improving credit policy
- Introducing collateral controls
- Developing invoice accuracy
- Review the approval process
- Examining the role of IT systems
- Integrating SOX into daily routines
- Techniques for testing Credit and Accounts Receivable controls
- Documentation requirements specific to Credit and Accounts Receivable
Learning Objectives
- To establish, maintain, and improve Accounts Receivable controls that comply with Sarbanes-Oxley.
- To identify the responsibilities and duties of Credit Professionals so that they can be confident that their Credit and Accounts Receivable processes are Sarbanes-Oxley compliant.
- To recognize the Credit and Accounts Receivable processes that pose the greatest risk of material misstatement
- To answer the 3 important questions required by Sarbanes-Oxley: 1)Is it accurate? 2)Are you sure? 3)Can you prove it?
Recommended For
- This CPE course is recommended for CPA, CIA, CMA, CEOs, CFOs, Controllers, Risk managers, Internal as well as external auditors involved in the implementation or review of internal controls in the organization.
Who Should Attend?
- Accountant
- Accounting and audit managers/practitioners
- Accounting Firm
- Accounts Director
- Assistant Controllers
- Auditors
- Certified Fraud Examiner
- Certified Management Accountant (CMA)
- Certified Valuation Analysts
- CFO/Controller
- Chief Accounting Officer
- Compliance Managers
- Compliance Officers
- CPA (Industry)
- CPA - Mid Size Firm
- CPA - Small Firm
- CPA in Business
- Entrepreneurial Accountant
- Entrepreneurial CPA
- Finance Director
- Senior Accountant
- Staff of Accounting Firm
- Young CPA
