Sarbanes Oxley (SOX) Section 404 (Currently Unavailable)

Author: Lynn Fountain

This on-demand course is dedicated to examining and executing a proper methodology for compliance with SOX 404. In completing this course, participants will be prepared to adequately comply with elements of SOX 404.

Sarbanes-Oxley was passed in 2002 and the first year of attestation for SOX Section 404 was 2004. Section 404 is the most prominent of the eleven separate sections of the legislation. It has, by far, been the most costly and time-consuming element of compliance for both companies and auditors.

Publication Date: January 2019

Designed For
Internal auditors, Professionals considering the role of internal audit, Chief Audit Executives Accountants and Finance professionals, CFOs, CEOs, Legal and Compliance professionals, Board members, and Audit Committee members

Topics Covered

• SOX Overview
• Top Down Risk Assessment
• Documentation
• Source Risk and Document Controls
• Validate Operation
• Materiality
• The COSO Connection
• Conclude on the adequacy of internal control over financial reporting

Learning Objectives

• Recognize a process methodology to use for SOX 404 attestation
• Identify critical concepts to prepare an accounting top-down risk assessment (TDRA)
• Differentiate the key requirements of SOX documentation
• Identify key requirements of sourcing risks and documenting controls
• Describe requirements to assess design effectiveness and then validate operating effectiveness
• Recognize and apply the materiality concept
• Identify the proper levels of reporting for your SOX 404 process
• Recognize the importance of understanding all elements of the COSO framework
• Identify how to properly attest to the COSO principles
• Identify and apply the steps of the SOX Section 404 process
• Describe key control
• Recognize correct statements about the control environment
• Identify how a process flow should show
• Describe risk tolerance

Level
Basic

Instructional Method
Self-Study

NASBA Field of Study
Accounting (1 hour), Auditing (1 hour)

Program Prerequisites
None

Advance Preparation
None