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SOX Fraud And Whistleblower, Section 802,902,906

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

Published: April, 2022

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Before starting this self study program, please go through the instructional document.

  • Course Description
  • Course Qualification
  • Presenter
  • FAQ

Course Description

Course Description

SOX sections 806, 902 and 906 were enacted in an attempt to hold individuals responsible for fraudulent acts associated with financial reporting. Sections 806, 902 and 906 of the Sarbanes-Oxley act all have critical implications to companies working to comply with the Act.  In fact, many people would contest that the topics addressed in these sections go to the heart of why the legislation was established – because of the instances of corporate miss-deeds. Let us have a brief introduction about each sections:

  1. Section 802: It provides protection for employees of publicly traded companies who provide evidence of fraud and requires an investigation to be conducted after a complaint is filed  
  2. Section 902: It provides broadly that any attempt or conspiracy to commit a criminal fraud offense will be subject to the same penalties as if the attempt or conspiracy had succeeded
  3. Section 906: It requires that public companies include a specific written certification of the Chief Executive Officer and Chief Financial Officer in each periodic report containing financial statements. It addresses criminal penalties for certifying a misleading or fraudulent financial report

According to the Wall Street Journal, the SEC’s whistleblower program has generated tips from more than 6,500 people from at least 68 countries.  Resulted in more than $150 million in restitution and fines and more than $15 million in bounty payments to the whistleblowers. 

Each of these acts address specific criteria to protect whistleblowers and help bring confidence and assurance to investors through requirements of certifications, specification of penalties for non-compliance and protection for whistleblowers.

Major topics covered in this online CPE webinar:

SOX 806 -Protection for employees of publicly traded companies who provide evidence of fraud. 

  • Background/ Expectations/Lawsuits
  • Dodd Frank
  • Sox 902 –attempts/conspiracies to commit criminal fraud. 

SOX 906 - criminal penalties for certifying a misleading or fraudulent financial report. 

  • Background/Court Cases
  • Section 906 vs. 302


Click here for more Accounting & Auditing CPE webinars.

Modules

  • 1.1 Introduction
  • 00:05:52
  • 1.2 Sox Overview
  • 00:03:46
  • 1.3 Agenda
  • 00:01:21

  • 2.1 Introduction of Section 806
  • 00:04:01
  • 2.2 What is whistleblower
  • 00:02:04
  • 2.3 What is retaliation
  • 00:03:25
  • 2.4 Section 806 Expectations
  • 00:03:14

  • 3.1 Lawsuits Lockheed and result
  • 00:05:55
  • 3.2 Lawsuits Spinner
  • 00:04:00
  • 3.3 Lawsuits Lawson
  • 00:02:57
  • 3.4 Dodd frank
  • 00:03:26
  • 3.5 Summary 806
  • 00:00:59

  • 4.1 Introduction of Section 902
  • 00:09:26
  • 4.2 Introduction of Section 906
  • 00:06:56
  • 4.3 Court Cases
  • 00:02:02
  • 4.4 Section 906 Vs. 302
  • 00:04:39

  • 5.1 Summary
  • 00:02:41
  • 5.2 Ending Speech
  • 00:00:41

Learning Objectives

  • To gain a knowledge about Section 806, 902 and 906
  • To explain SOX Section 806 and its legal requirements
  • To explain how Dodd-Frank act legislation impacts Section 806
  • To learn recent lawsuits related to SOX
  • To determine difference between SOX Section 906 and 302

Recommended For

  • This online CPE webinar for CPAs is recommended for CIA and all other titles governed by IIA.

Who Should Attend?

  • Accountant
  • Accounting Firm
  • Accounting Managers
  • 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

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

Additional details

  • Course Level :
    Basic
  • Credits :
    1
  • Instructional Method :
    QAS Self Study
  • Pre-requisites :
    None
  • Advance Preparation :
    None

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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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