Sarbanes-Oxley (SOX) 20 Years Later - Evaluating Fraud Risk

Learning Objectives

• To revisit the various fraud sections.
• To review the concept of fraud evaluations.
• To examine current survey statistics on SOX efforts.
• To explain the efforts of the Anti-Fraud Collaboration effort started in 2010.
• To evaluate concepts identified in the AFC survey to enhance your fraud efforts.

Course Description

In the wake of the Sarbanes-Oxley Act (SOX), which was introduced two decades ago, the landscape of corporate governance and financial accountability has evolved significantly. At the time of its enactment, SOX was a response to the rising concerns among legislators and investors regarding the rampant corporate fraud cases that had shaken public trust in financial markets.

SOX encompassed various sections aimed at addressing these concerns. Title V, focusing on Analyst Conflicts of Interest, aimed to enhance transparency and reduce conflicts of interest among financial analysts. Title VIII, known as Corporate and Criminal Fraud Accountability, sought to hold corporations accountable for fraudulent activities and reinforced penalties for white-collar crimes through Title IX.

Now, two decades later, the business world has transformed, and so has the nature of fraud. In today's digitally driven environment, fraudsters have devised increasingly sophisticated methods to perpetrate their schemes. To safeguard their integrity, financial information, and the interests of shareholders, companies must remain vigilant. This CPE course offers a comprehensive exploration of the evolving concept of fraud, providing insights and strategies to combat it effectively in a modern business landscape. 

Join this CPE Webinar it will provide a look at the concept of fraud – 20 years after the Sarbanes-Oxley legislation was passed.

Key Topics Covered in this CPE Auditing Webinar:

• Revisit the various fraud sections.
• Understand the efforts of the Anti-Fraud Collaboration effort started in 2010.
• Evaluate concepts identified in the AFC survey to enhance your fraud efforts.
• Identify important concepts for detecting fraud in the future.
• Examine the importance of skepticism,
• Review perspectives of financial reporting fraud and SEC investigations.
• Examine fraud focus in the new environment.
• Identify new methods to vet out fraud in the future.
• Examine machine learning and artificial intelligence.

Overview

• Sarbanes Oxley - Fraud Section: SOX 806

  6 mins
• Anti-Fraud Collaboration

  14 mins
• Identifying fraud in the future

  23 mins
• Using skepticism to vet out fraud

  38 mins
• Steps to combat lack of skepticism

  47 mins
• Takeaways from enforcement actions

  57 mins
• The impact of COVID-19

  63 mins
• Data analytics trends

  71 mins
• Converge fraud, Anti-Money Laundering and Cyber events.

  85 mins
• Behavior analytics

  88 mins