SOX 404

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SOX 404

Learning Objectives

To recognize a process methodology to use for SOX 404 attestation.
To differentiate the key requirements of SOX documentation.
To identify key requirements of sourcing risks and documenting controls.
To describe requirements to assess design effectiveness and then validate operating effectiveness.
To recognize and apply the materiality concept.
To identify the proper levels of reporting for your SOX 404 process.
To recognize the importance of understanding all elements of the COSO framework.
To identify how to properly attest to the COSO principles.
To identify and apply the steps of the SOX Section 404 process.
Describe key control.
To recognize correct statements about the control environment.
To identify how a process flow should show.
To describe risk tolerance.

Course Description

Sarbanes-Oxley was passed in 2002 and year one of attestation for publicly traded companies was 2004. SOX section 404 is the most prominent of the many requirements covered under the legislation.

The most contentious aspect of SOX is Section 404, which requires management and the external auditor to report on the adequacy of the company's internal control on financial reporting (ICFR). This is the costliest aspect of the legislation for companies to implement, as documenting and testing important financial manual and automated controls requires enormous effort.

The online CPE webinar is a comprehensive guide to the SOX 404 process. Our expert Lynn Fountain shows you the “ins and outs” of 404 compliance, providing the practical knowledge to get you up to speed

Key topics covered in this online CPE course:

Summary of SOX 404 requirements
COSO and the Internal Control Framework
SEC and PCAOB ongoing SOX 404 requirements
Accounting Risk Assessment
Documentation Requirements
Testing Requirements
Significant Deficiency and Material Weakness
PCAOB 2012 Report on Public Companies ICFR

This CPE Auditing webinar is designed to provide accountants and other financial professionals with the practical knowledge to successfully implement the 404 processes.

You’ll learn how to set up your compliance project and manage it from start to finish. You’ll take advantage of lessons learned and be able to meet your reporting requirements.

1.1 Introduction of SOX legislation
06:10

1.2 SOX Primer overview
01:47

2.1 Sequence of events and Internal control
11:41

2.2 COSO update and new concepts
03:30

2.3 Operating environment
02:40

2.4 Assessing effectiveness
04:55

2.5 SEC ongoing requirements
05:01

2.6 Relevant assertions
08:35

2.7 Accounting risk assessment
20:40

3.1 What to document?
07:13

3.2 Process flows and documentation requirements
06:02

3.3 Identifying control types
03:18

3.4 Documenting - Non - Routine, Estimates, Process
03:10

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 Sarbanes-Oxley 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 Sarbanes-Oxley 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

QAS Self Study

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

4.5

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Michael Sowa, CPA (US)

The presenter Lynn Fountain was very effective in presenting the material. The handout material was extremely helpful in updating the changes in planning for audits,

Ron Reigle, CFE, CIA

All good. Solid, intelligent speaker.

Janet Stelly, CPA (US)

Good overview of topic.

J(M

Jehu (jay) Matos, CFE, CISA, CIA

Excellent

Bonaventure Ezewuzie, CPA (US)

Excellent

2 Credits

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Subject Area

Auditing

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Verification Code

SOX 404

Course Details

Learning Objectives

Course Description

Modules

1 Introduction 2 Modules | 7 Mins

Introduction

2 SOX section 404 7 Modules | 56 Mins

SOX section 404

3 SOX Documentation requirements 4 Modules | 19 Mins

SOX Documentation requirements

Qualifies for

Webinar Qualifies For

Presenter Details

About Instructor

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

Other Details

Additional Information

2 Hours

Basic

QAS Self Study

None

None

FAQ’s

NASBA APPROVED

Ratings and Review

4.5

Michael Sowa, CPA (US)

Ron Reigle, CFE, CIA

Janet Stelly, CPA (US)

Jehu (jay) Matos, CFE, CISA, CIA

Bonaventure Ezewuzie, CPA (US)

Subject Area

Unlimited Access Plan

Inclusions

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