CPE Packages (Incl. Ethics) for Multiple States and Qualifications Available. Price $4/credit - CLICK HERE to view.

SOX Internal Controls for Inventory

4.3 (6)

Michel Morley

Mike Morley

Friday, June 25, 2021 | 12:00 PM EDT

  • CRMA
  • CIA
  • CMA
  • CPA (US)
  • IAP
  • QIAL

2 Credits


Subject Area


Webinar Qualifies For

2 CPE credit of Auditing for all CPAs

2 CPE credit for Certified Management Accountants (CMA)

2 CPE credit for Certified Internal Auditors (CIA)

2 CPE credit for Qualification in Internal Audit Leadership (QIAL)

2 CPE credit for Internal Audit Practitioner (IAP)

2 CPE credit for Certification in Risk Management Assurance (CRMA)

2 General Educational credit for Tax Professionals / Bookkeepers / Accountants

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Course Description

Inventory, often a company’s largest or second-largest asset has a significant impact on both the balance sheet and the income statement. Easily manipulated, it can be hidden, stolen, or simply forgotten. Effective internal controls keep track of inventory and ensure that its proper value is reflected on the financial statements.

The Sarbanes-Oxley Act of 2002 makes company executives of publicly traded US companies 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.

This webinar looks at specific issues affecting Inventory, including 

  • Inventory Risk Management, 
  • The adequacy of Inventory purchasing and stores management oversight, 
  • Dependence on processes outside the Purchasing and Inventory departments and 
  • Dependence on processes outside the company.

This online CPE course will provide you with the tools you need to establish and maintain strong internal controls in Inventory Management that meet Sarbanes-Oxley standards and reduce risk and protect company assets. 

This online CPE webinar covers the following key topics:

  • Accountability
  • Risk of manipulation
  • Purchasing
  • Obsolescence
  • Valuation
  • Inventory returns
  • “Channel Stuffing”
  • Physical counts
  • Inter-company transactions
  • Inventory sent to outside processors
  • Inventory as collateral

The CPE webinar will provide opportunities for discussion on the subject queries.

Learning Objectives

  • To explore how to set up controls for the purchasing process and analyzing the risk to the financial statements
  • To develop customized tools for establishing and maintaining strong internal controls that meet Sarbanes-Oxley standards by reducing risk and protecting company assets
  • To raise your awareness of fraud issues and examining processes to mitigate the risk associated with Inventory Management to comply with SOX
  • To identify the positive impact on both the Balance Sheet and the Income Statement that effective controls can have
  • To answer the 3 important questions required by Sarbanes-Oxley: Is it accurate? Are you sure? Can you prove it?

Who Should Attend?

  • Accountant
  • Accounting and audit managers/practitioners
  • Accounting Firm
  • Accounting Managers
  • Assistant Controllers
  • Auditors
  • CEO
  • Certified Management Accountant
  • Certified Public Accountant
  • CFO/Controller
  • Compliance Managers
  • Compliance Officers
  • CPA (Industry)
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • Fraud & Forensic Auditor
  • Risk Managers
  • Young CPA


    [no_of_record] => 6
    [average] => 4.3333