Concepts for an accounting top down risk assessment can be well defined, but execution of a true top-down risk accounting risk assessment is still a challenge. The requirement of AS5 to consider multiple risk factors complicates the process. Organizations will often struggle with the best method to properly evaluate their accounts to determine those which present the potential for a material misstatement.
This session will focus on the methodology steps reviewed in Segment One of developing a to-down risk assessment and provide scenario examples of how they might be applied in real world. There are in total 5 key steps which are used to focus the scope of the SOX 404 processes.
We will dive further into understanding how to examine entity-level controls and their importance on determine account significance. We will review the steps outlined in Segment One and apply those steps towards two separate scenarios. This will allow the participant to think through the process and application and to examine how a scoring methodology may be beneficial within their individual’s process.
Major topics covered in this online CPE webinar:
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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.
Ms.
Fountain obtained her BSBA from Pittsburg State University and her MBA from
Washburn University in Kansas. She has her CPA, CGMA, CRMA credentials.
Course Level
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Instructional Method
Pre-requisites
Advance Preparation
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.
TKC
Nice course
SR
dfg
ER
Information contained on slides wasn’t covered in webinar. Principles for example 2, example 2 and summary wasn’t in webinar yet in the slides.
SB
Nice!
JK
Good presentation.
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