- NY Credits : 12.0
- TX Credits : 12.0
This program on the Sarbanes-Oxley Act briefly reviews the primary sections of the Act and the framework of internal control provided by COSO. It discusses the self-assessments that management should consider performing related to internal control. Significant deficiencies and material weaknesses are reviewed and the role of IT in internal control, including COBIT(r), are examined. Techniques for compliance planning and implementation are included. Additionally, implications for private companies are provided, along with why private entities would consider complying.
Note: As we go to press, the SEC has proposed amendments that will change the definition of accelerated and large accelerated filers. As a result of the proposed amendments, smaller reporting companies with less than $100 million in revenues would not be required to obtain an attestation of their internal control over financial reporting from an independent outside auditor.
Upon successful completion of this course, the user should be able to:
recognize the relevance and importance of the Sarbanes-Oxley Act,
recognize the key provisions of the Sarbanes-Oxley Act,
recognize the importance of the COSO's Internal Control-Integrated Framework,
identify and define internal control,
recognize the importance of documentation and communication in the assessment process,
recognize the different levels of risk,
recognize the internal control components,
recognize the significance of information technology as a component of internal control processes, and
identify the IT risks and various control approaches.