American Strategic Management Institute

Strengthen Sarbanes-Oxley Compliance Efforts

More than three years after the introduction of the Sarbanes-Oxley Act (SOX), publicly-owned companies are still struggling to comply with the standards set forth by this grueling process, impacting private-owned companies as well. From the corporate executive to the financial auditor, many individuals are misguided as to the expectations and reporting requirements of SOX. In order to comply with SOX standards, a company must establish an effective internal control system, comply with strict reporting requirements, engage in effective risk management, and develop a sound IT infrastructure. Without all these criteria, SOX compliance will be impossible. This training will provide attendees with a comprehensive check-list of actions to improve their organizationês compliance with Sarbanes-Oxley and other internal control mandates.

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Strengthen Sarbanes-Oxley Compliance Efforts
DAY ONE: Understand Sarbanes-Oxley Compliance Standards

Module 1: Compliance Frameworks: SOX, SEC and PCAOB Regulations
• Examine SOX and other compliance requirements in order to protect investor value, market share and your reputation
• Understand the new requirements of anti-fraud programs and controls
• Transform the compliance process and integrate it with business operations

Module 2: Establishing Effective Internal Controls to Comply With SOX Regulations
• Learn how to plan, evaluate and test your internal control system
• Establish risk and corrective action plans to effectively monitor and maintain SOX compliance
• Map internal control objectives and link them to SOX requirements while applying process frameworks

Module 3: To Report or Not to Report: Reporting Control Deficiencies
• Examine the most up-to-date trends in control deficiency reporting
• Understand what types of control deficiencies are most commonly unreported
• Evaluate the exact qualifications of a material weaknesses or risk as defined by PCAOB

DAY TWO: Evaluating IT Infrastructure, Auditor Relationships, and Risk Management

Module 4: Create a Sound IT Infrastructure in Order to Comply With SOX Regulations
• Evaluate the emergence of new software solutions to comply with SOX
• Understand the role of the external audit as it relates to the IT infrastructure
• Learn how to deal with the reporting process and documentation requirements

Module 5: Corporate Governance: Integrate a Management System with Internal Financial Audits
• Learn how to comply with traditional requirements, while at the same time supporting SOX regulations
• Examine the relationship between the internal auditors and those audited
• Communicate non-financial information to senior management in order to enhance critical financial management functions
• Evaluate the role of the audit committee as mandated by SOX

Module 6: Managing Risk in Compliance with SOX Standards
• Evaluate the risk of ineffective management systems
• Increase compliance efficiency and cost savings
• Understand the importance of effective management of data quality and IT infrastructures
• Learn the risk and potential consequences for your company if you do not comply with SOX standards