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SOX Internal Controls For Accounts Receivable

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


  • Sarbanes-Oxley Act of 2002
    14 mins
  • Co-certification
    29 mins
  • Revenue Recognition
    36 mins
  • Risk factors in Credit
    44 mins
  • Credit Notes
    58 mins
  • Bad Debt Allowances
    66 mins
  • Approval Process
    75 mins
  • Testing Controls
    83 mins
  • Example of 302 Certification

Course Description

For many companies, Accounts Receivable is the largest or second-largest assets on the balance sheet. This means that any weakness in the financial controls for A/R could have a serious impact on the company’s financial statements. As well, since Accounts Receivable departments interact with almost every other department in the company, weak controls in A/R can lead to increased risk in other areas.

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.

Many of these executives are "pushing down" the signoff of reports that attest to the effectiveness of their companies’ internal controls, including foreign subsidiaries. Credit professionals need to understand their responsibilities under the Act before they sign off on the effectiveness of the financial controls in their department.

This webinar looks at specific issues affecting Credit and Accounts Receivable, Including Credit Risk Management, the adequacy of provisions for Bad Debt, Collection Procedures, dependence on processes outside the credit the 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/R department that meet Sarbanes-Oxley standards and reduce risk and protect company assets. There will be opportunities for online discussions and questions.

Major Topics Covered:

  • How to establish financial controls for Credit and Accounts Receivable 
  • Establishing segregation of duties
  • Setting up cash application controls
  • Structuring bad debt reserves
  • Improving credit policy
  • Introducing collateral controls
  • Developing invoice accuracy
  • 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 establish, maintain, and improve Accounts Receivable controls that comply with Sarbanes-Oxley.
  • To identify the responsibilities and duties of Credit Professionals so that they can be confident that their Credit and Accounts Receivable processes are Sarbanes-Oxley compliant.
  • To recognize the Credit and Accounts Receivable processes that pose the greatest risk of material misstatement
  • To answer the 3 important questions required by Sarbanes-Oxley: 1)Is it accurate? 2)Are you sure? 3)Can you prove it?

Who Should Attend?

  • Accountant
  • Accounting Firm
  • Accounting Managers
  • Accounting Practice Owners
  • Accounts Director
  • Auditors
  • Bookkeeper
  • Bookkeepers & Accountants & Tax Preparers
  • Certified Public Accountant
  • CFO/Controller
  • CPA (Industry)
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • CPA in Business
  • Entrepreneurial CPA
  • Senior Accountant
  • Staff of Accounting Firm
  • Young CPA





Michael dealt with an important and serious topic with such ease that he made it easy to understand and follow. Thank you Michael. Thank you myCPE for bringing to us such a wonderful webinar. Recommended.