Setting up controls for the purchasing and payment processes and analyzing the risk to the financial statements can be a daunting task. Since most companies have to purchase many different items every day, there is a real potential for fraud.
The Sarbanes-Oxley Act of 2002 makes company executives of publicly traded US companies personally and criminally responsible for the accuracy and reliability of the financial disclosures of their companies. They are required to sign reports that attest to the effectiveness of their companies’ internal controls, including foreign subsidiaries.
This webinar looks at specific issues affecting Accounts Payable, including Payables Risk Management, the adequacy of payment oversight, dependence on processes outside the Payables department, and outside the company.
This webinar will provide you with the tools you need to establish and maintain strong internal controls in the A/P department that meet Sarbanes-Oxley standards and reduce risk and protect company assets. There will be opportunities for online discussion and questions.
Major Topics Covered:
Safeguarding inventory purchasing
Examining supplier payments
Reviewing risks associated with payroll and taxes
Know best practices and types of approvals
Reviewing repetitive processes
Understanding the dangers inherent in inter-company payments
Verifying accruals
Assess currency issues
Building and using audit trails
Review the approval process
Examining the role of IT systems
Integrating SOX into daily routines
Techniques for testing Credit and Accounts Receivable controls
Documentation requirements specific to Credit and Accounts Receivable
Learning Objectives
To recognize setting up efficient controls for the purchasing process and analyzing the risk to the financial statements
To explore the tools you need to establish and maintain strong internal controls that meet Sarbanes-Oxley standards by reducing risk and protecting company assets
To raise awareness of fraud issues in Accounts Payable and examining processes to mitigate the risk associated with Accounts Payable to comply with SOX.
To answer the 3 important questions required by Sarbanes-Oxley: 1) Is it accurate? 2) Are you sure? 3) Can you prove it?
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.
About Presenter
Michel Morley
Founder, Mike Morley
Mike Morley is a Certified Public Accountant and a
recognized authority in the field of finance with more than 25 years experience
in finance, including SOX and IFRS implementation.
An entertaining and informative speaker and trainer, Mike is
the author of:
“IFRS Simplified” which provides a jump start for accountants
and finance executives who want to quickly and easily get up to date on IFRS.
“Sarbanes-Oxley Simplified”
which is an easy-to-read explanation of the requirements of the U.S.
legislation that makes CEO's & CFO's personally responsible for the
accuracy of their company's financial statements.
“Financial Statement Analysis Simplified” which translates the
accounting language of financial statements into clear, easy-to-understand
terms that anyone who needs to make well-informed financial decisions quickly
will appreciate.
FAQ
myCPE self-study courses are online.
The self-study format allows you to access the material online 24/7 and study at your own pace.
As per NASBA guidelines, you have one year from date of registration to complete each program.
Complete your final exam at any time and get CPE Credit instantly. You can retake the exam multiple times without any additional charges.
Course have minimum passing score of 70% and test takers will not be provided feedback on failed exams.
These are Live recorded presentations converted into Self Study (On-Demand Videos).
Refund/Cancellation Policy
For more information regarding refund, complaint and program cancellation policies, please contact our offices at 646-688-5128
Please email to help@my-cpe.com in case of any self study program queries.
Testimonial
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Christina Mccrery, CPA
Feb 23rd 2021
The knowledge that Michael brings to the table is astounding. After having attended this webinar, I am convinced about the person I am going to turn to for my training. Thank you Michael and myCPE for this wonderful webinar.
BG
Brenda Galvan,
Jan 27th, 2021
Having an attentive and engaging presenter is always an added bonus while attending webinars. The presenter stayed on the subject while covering a number of related subject points. Well thought-out polling questions checked my learning. Thank you Michael.
GG
Galina Garrison, , CPA
Dec 28th, 2020
Not one dull moment in the entire webinar. The presenter was very thorough with the subject. He succeeded in simplifying complicated subjects and that was the best part. Thank you myCPE.
CB
Christopher Bosco, CPA
Dec 24th, 2020
The course is very well organized and laid out. The cherry on top is the sheer skills that Michael possesses. From delving deep into the topics to explaining them in an easy to follow way, the webinar was a perfect balance. Thank you myCPE and Michael.
EV
Ed Vest, CPA
Dec 28th, 2020
A very well packaged webinar with tons of information all consolidated and presented in a easy to follow way. Highly recommended.
JB
Janice Bloodworth, CPA
Dec 24th, 2020
A very interactive webinar by Michael. The info provided by him is going to be very helpful for me in furthering my career. Thank you myCPE and Michael.
