Section 302 And Connection To XBRL

  • Accountant
  • CRMA
  • CPA/CFF
  • CFE
  • CGAP
  • CGFM
  • CIA
  • CMA
  • CPA (US)
  • CVA
  • IAP
  • QIAL
  • CBA/MCBA
  • CFIRS
  • CWS

Published: May, 2022

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  • Course Description
  • Course Qualification
  • Presenter
  • FAQ

Course Description

Course Description

You may have heard of XBRL and wonder if there is any connection to SOX sections 302 and 404. 

Well, the answer is …. yes.

XBRL stands for extensible Business Reporting Language and is a global electronic information format designed to transmit and store a business information in a machine-readable format.

The idea behind XBRL is simple.  Historically business reports treated financial information as blocks of text like a printed document or a web page. Blocks of text cannot be read by computers. But with XBRL, identifying tags provide each individual item of data with an electronic context. The SEC now mandates XBRL for publicly traded companies.

The XBRL tags are part of taxonomies developed by market constituents and are publicly available and license-free. Taxonomies consist of financial concept definitions in which each business concept is defined and assigned a relationship to other concepts. Companies are required to ensure their tags are accurate and consistent. 

This IIA-approved CPE course is built on the foundation of XBRL knowledge and explores the link between the SOX Act of 2002, internal controls, and eXtensible Business Reporting Language (XBRL) requirements.

It will review why XBRL should be considered an internal control issue within organizations and compliance requirements for organizations. Additionally, this continuing education course will help identify how XBRL relates to control point accuracy.

This online CPE Auditing course also outlines the various impact of XBRL and inline XBRL on internal control processes and SOX sections 302 & 404 and why XBRL processes should be part of your 302 and 404 financial evaluation processes. This online continuing professional education course provides valuable insight into how to prepare for those impacts and learn how to address them in detail.

Key topics covered in this online CPE webinar:

  • Background
  • Authoritative guidance
  • SOX and compliance applicability
  • Control processes
  • Controls for XBRL handling information
  • Inline XBRL

You might be interested in the Certification course for SOX Specialists.

Modules

  • 1.1 Introduction
  • 00:03:37
  • 1.2 Agenda
  • 00:03:47

  • 2.1 XBRL and Internal controls
  • 00:04:57
  • 2.2 Resources and regulations
  • 00:02:16
  • 2.3 Ramifications of Non Compliance, Requirements and
  • 00:03:34
  • 2.4 SOX Applicability and Management Internal Control Requirements
  • 00:05:23
  • 2.5 Key Controls and SOX Processes
  • 00:06:31
  • 2.6 Managements assertions - XBRL
  • 00:04:57
  • 2.7 Control Points -Completeness
  • 00:03:09
  • 2.8 Control Points -Validity
  • 00:04:32
  • 2.9 Control Points –Roles/Authorization
  • 00:07:36
  • 2.10 Control Points -Presentation
  • 00:05:14

  • 3.1 Input
  • 00:02:34
  • 3.2 Process
  • 00:04:31
  • 3.3 Tagging
  • 00:02:10

Learning Objectives

  • To identify internal controls and link to SOX
  • To recognize compliance requirements
  • To XBRL and management assertion
  • To discover XBRL control point accuracy
  • To evaluate XBRL information handling
  • To identify XBRL roles & liabilities

Recommended For

  • This IIA Approved SOX webinar is recommended for CIA and all other titles governed by IIA.
  • This online CPE webinar is recommended for CPA, CMA, Accountants and Finance Professionals, CFOs, CEOs, Compliance professionals involved in forming and assessing internal controls. 

Who Should Attend?

  • Accountant
  • Accounting Firm
  • Accounting Managers
  • Accounting Practice Owners
  • Accounts Director
  • Certified Public Accountant (CPA)
  • CPA (Industry)
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • CPA in Business
  • Entrepreneurial CPA
  • Senior Accountant
  • Staff of Accounting Firm
  • Young CPA

Course Qualification

Webinar Qualifies For

  • 2 General Credit for Accountant/Bookeeper
  • 2 CPE Credit of Auditing for Certified Management Accountants (CMA)
  • 2 CPE Credit of Auditing for Certified Public Accountants (CPA-US)
  • 2 CPE Credit for Internal Audit Practitioner (IAP)
  • 2 CPE Credit for Qualification in Internal Audit Leadership (QIAL)
  • 2 CPE Credit for Certification in Risk Management Assurance (CRMA)
  • 2 CPE Credit of Internal Auditing for Certified Internal Auditors (CIA)
  • 2 CE Credit for Certified Fiduciary & Investment Risk Specialist (CFIRS)
  • 2 CE Credit for Certified Wealth Strategist (CWS)
  • 2 CPD Credit of Auditing for Certified Financial Forensics (CFF)
  • 2 CPE Credit of Auditing for Certified Fraud Examiner (CFE)
  • 2 CPE Credit for Certified Government Auditing Professional (CGAP)
  • 2 CPE Credit for Certified Government Financial Manager (CGFM)
  • 2 CPE Credit of Auditing for Certified Valuation Analyst (CVA)
  • 2 CPE Credit of Auditing for Certified Business Appraiser/Master Certified Business Appraiser (CBA/MCBA)

Additional details

  • Course Level :
    Basic
  • Credits :
    2
  • Instructional Method :
    QAS Self Study
  • Pre-requisites :
    None
  • Advance Preparation :
    None

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.

Presenter

About Presenter

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. 


About Company

Lynn Fountain Consulting and Training

www.lynnfountain.net/

Ms. Fountain has become known as an international trainer on topics of Leadership, Internal Audit, Accounting, Finance, Ethics, Business Processes, Bookkeeping, Cybersecurity and Business Issues.  She has over 150 training topics that can be tailored to meet your needs.

Faq

FAQs content

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