SOX Entity Level Controls

  • 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

Entity level control (ELCs) s are often difficult to identify but even more difficult to assess.  Soft controls are similar to entity-level controls. They have less concrete or visible measures that contribute to achieving organizational objectives. So controls can be regarded as measures influencing employees’ motivation, loyalty, integrity, inspiration, standards, and values. They do not lend themselves to normal validation processes.  Assessors must often utilize interviews, questionnaires, observations, or other unique methods.

The webinars on top-down risk assessment discussed ELCs and some methods for assessment. It will delve further into understanding approaches to assess the design and operating effectiveness of ELCs and soft controls. 

Challenges faced while evaluating Soft Controls will be discussed in this webinar. We will cover methods and alternatives to measuring and assessing ELCs and soft controls. You will get an idea about how to use the Maturity model and how it is effective in evaluating soft control.

Major topics covered in this online CPE webinar:

  • Hard vs. soft controls
  • Challenging of evaluating soft control 
  • Methods for assessing soft controls and determining the effectiveness
  • COSO
  • Maturity Model
  • Cause and effect analysis
  • Questionnaires and surveys
  • Linking soft controls to COSO principles and financial statement assertions

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

Modules

  • 1.1 Introduction
  • 00:05:44
  • 1.2 Agenda
  • 00:01:01

  • 2.1 Hard vs. Soft Controls
  • 00:08:25
  • 2.2 Challenges of evaluating soft controls
  • 00:09:15
  • 2.3 Methods for assessing soft controls
  • 00:01:18

  • 3.1 COSO Attributes
  • 00:04:02
  • 3.2 Integrity
  • 00:17:38
  • 3.3 Board Oversight
  • 00:06:13
  • 3.4 Structure
  • 00:04:15
  • 3.5 Competence
  • 00:05:37
  • 3.6 Hold accountable
  • 00:06:08

  • 4.1 Model Components
  • 00:04:03
  • 4.2 Maturity Model
  • 00:01:55
  • 4.3 Example Definitions
  • 00:04:59
  • 4.4 Requirement/ Challenges/ Advantages
  • 00:06:16

  • 5.1 Cause and Effect Analysis
  • 00:04:38

  • 6.1 Surveys and Questionnaires
  • 00:06:10

  • 7.1 Linking Soft Controls to COSO Principles and FS Assertions
  • 00:04:49

  • 8.1 Summary
  • 00:02:36
  • 8.2 Ending Speech
  • 00:00:14

Learning Objectives

  • To learn testing and evaluation methods.
  • How to think through COSO and how the principles can be utilized.
  • How to apply the maturity model approach.
  • How to explore hard vs soft entity-level controls.
  • To evaluate cause and effect analysis.

Recommended For

  • This online CPE webinar for CPAs is recommended for internal as well as external auditors interested to learn about SOX entity level and soft controls.

Who Should Attend?

  • Accountant
  • Accounting Firm
  • Accounting Managers
  • Auditors
  • Certified Management Accountant (CMA)
  • Certified Public Accountant (CPA)
  • Chief Accounting Officer
  • Cloud Accountants
  • 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 for Certification in Risk Management Assurance (CRMA)
  • 2 CPE Credit of Internal Auditing for Certified Internal Auditors (CIA)
  • 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 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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Ratings and Review

4.5

10 Ratings

Excellent

6

Very Good

3

Average

1

Poor

0

Terrible

0

JA

Jessica Anderson, CIA, CPA (US)

Jun 3rd, 2022

This course did a great job of explaining why businesses should better evaluate their soft controls such as tone at the top since they can influence hard controls.

JA

Jameela Almuharrami

May 31st, 2022

good

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