Sarbanes-Oxley Certification

• What time shall I arrive at the venue?

  Please arrive at the venue for 8.30am

• What are the timings of this course?

  The course starts at 9am and finishes at 5pm

• Are there pre-requisites for this course?

  There are no pre-requisites.

• What does The Knowledge Academy provide me on the course?

  The Knowledge Academy provides you with materials, an experienced instructor and refreshments.

• What is the experience of the instructor delivering my course?

  All of our instructors have over ten years of experience.

• Are there any hidden costs?

  No, there are no hidden costs.

• What exam do I need to take?

  There is no exam.

Sarbanes-Oxley Training

Introduction

The Sarbanes- Oxley Act (SOX) was enacted in July 2002, largely in response to large public failures of corporate governance. Securities and Exchange Commission’s (SEC) rulings is that SOX Internal Controls must assure the secure, stable, and reliable performance of computer hardware, software, and SOX personnel connected to financial systems.

Pre-Requisites

There are no pre-requisites.

Who should attend?

This course is intended for:

• C – Level Executives
• Information Security Directors, Managers and Professionals
• Chief Risk and Compliance Officers
• IT and Security Process Owners
• Network, System and Security Administrators
• Auditors
• Security and Management Consultants
• This course is highly recommended for professionals from Supervisory Agencies, Central Banks, Financial Institutions, Commercial Banks, Investment Banks, Insurance Companies, Multinational Corporations.

What will you learn?

• This course will help individuals understand both the spirit and practicality of the ACT.
• Challenges will be highlighted and delegates will be taught the best practices that must be implemented to make their organisation compliant to the Law.

Course Outline

The Sarbanes Oxley Act

• The Need
• US federal legislation: Financial reporting or corporate governance?
• The Sarbanes-Oxley Act of 2002: Key Sections
• SEC, EDGAR, PCAOB, SAG
• The Act and its interpretation by SEC and PCAOB
• PCAOB Auditing Standards: What we need to know
• Management’s Testing
• Management’s Documentation
• Reports used to Validate SOX Compliant IT
• Infrastructure
• Documentation Issues
• Sections 302, 404, 906 and the three certifications
• Sections 302, 404, 906: Examples and case studies
• Management’s Responsibilities
• Committees and Teams
• Project Team – Section 404: Reports to Steering
• Committee
• Steering Committee – Section 404: Reports to
• Certifying Officers and cooperates with Disclosure
• Committee
• Disclosure Committee: Reports to Certifying
• Officers and cooperates with Audit Committee
• Certifying Officers and Audit Committee: Report to the Board of Directors
• Control Deficiency
• Deficiency in Design
• Deficiency in Operation
• Significant Deficiency
• Material Weakness
• Is it a Deficiency, or a Material Weakness?
• Reporting Weaknesses and Deficiencies

Examples 

• Case Studies
• Public Disclosure Requirements
• Real Time Disclosures on a rapid and current basis?
• Whistleblower protection
• Rulemaking process
• Companies Affected
• International companies
• Foreign Private Issuers (FPIs)
• American Depository Receipts (ADRs)
• Types of ADR programs
• Employees Affected
• Effective Dates

Internal Controls - COSO

• The Internal Control — Integrated Framework by the COSO committee
• Using the COSO framework effectively
• The Control Environment
• Risk Assessment
• Control Activities
• Information and Communication
• Monitoring
• Effectiveness and Efficiency of Operations
• Reliability of Financial Reporting
• Compliance with applicable laws and regulations
• IT Controls
• IT Controls and Sarbanes Oxley Act Relevance
• Program Development and Program Change
• Deterrent, Preventive, Detective, Corrective,
• Recovery, Compensating, Monitoring and Disclosure
• Controls
• Layers of overlapping controls

COSO Enterprise Risk Management

• (ERM) Framework
• Is COSO ERM needed for compliance?
• COSO AND COSO ERM
• Internal Environment
• Objective Setting
• Event Identification
• Risk Assessment
• Risk Response
• Control Activities
• Information and Communication
• Monitoring
• The two cubes
• Objectives: Strategic, Operations, Reporting,
• Compliance
• ERM – Application Techniques
• Core team preparedness
• Implementation plan
• Likelihood Risk Ranking
• Impact Risk Ranking

• Materials
• Experienced Instructor
• Refreshments

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