Examining the Controls Over Financial Reporting - OAM125WEB

Overview

Internal controls over financial reporting (ICFR) gained a great deal of attention due to the requirements of the Sarbanes-Oxley Act (SOX) of 2002 and continue to be a central requirement during the financial reporting cycle. This webinar provides insights on the related requirements, assessment practices, common challenges and opportunities to improve your organizations’ ICFR.

Who Should Attend

Internal and external, financial, operational and IT auditors and audit management, risk management and compliance professionals.

Prerequisites

• None

What You’ll Learn

You will learn the key compliance requirements of ICFR, roles and responsibilities, and key compliance steps and controls to provide accurate and complete financial statements.

Objectives

Controls Over Financial Reporting:

• Key compliance steps
• SOX and expectations for effective internal controls over financial reporting (ICFR)
• Key elements and their purpose

Roles and Responsibilities:

• What is expected of financial and operations management, and the audit committee
• The SEC, PCAOB and the auditors’ role

Key Compliance Steps:

• Steps and essential review procedures
• Determining the control effectiveness
• Situations that complicate their review
• Types of deficiencies

Other Considerations:

• Scope, documentation, sampling and assessing conditions at service organizations

Why You Should Attend

You should attend because financial reporting has become increasingly complex and auditors must have sufficient knowledge of key financial risks, controls and audit methods.

MIS Training Institute 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 through its website: www.nasbaregistry.org.