Sarbanes-Oxley (Sox) Testing
This course focuses on the validation of operation, which is executed through a test of control within Sarbanes-Oxley.
What you'll learn
Identify methods to ensure the proper controls are selected for testing.
Identify the variance between key controls and secondary controls.
Understand and execute testing procedures for design and operating effectiveness of controls.
Evaluate methods for executing testing such as: inquiry, observation, reperformance, walkthroughs, and data mining.
Explore the nature of timing for your test of controls.
Requirements
No advanced preparation or prerequisites are needed for this course, but completion of the instructor's previous webinars on Sarbanes-Oxley (SOX) may be helpful.
Description
Often, when the term Sarbanes-Oxley (SOX) comes up, individuals contemplate the testing processes that are required to be executed. As evidenced in previous courses, many things must occur prior to even beginning to contemplate what, when and how to test. Previous courses have discussed an overview of the Sarbanes-Oxley legislation at a high level, SOX authoritative bodies including the Public Company Accounting Oversight Board (PCAOB) and the Securities and Exchange Commission (SEC), the evolution of the Sarbanes-Oxley standards, performing a top down risk assessment (RA), evaluating entity level and soft controls, SOX sections 404, 302, 806, 902, and 906, and the connection to an internal control framework and the Committee of Sponsoring Organizations (COSO) 2013.
This course focuses on the validation of control operations, which is executed through tests of controls. Tests can be performed in multiple ways and will be dependent on the type of control. In some instances, several tests may be performed on one control.If you would like Continuing Education Credit (e.g. CPE, CE, CPD, etc.) for this course, it is available if you take this course on the Illumeo dot com platform under course title: Sarbanes-Oxley (SOX) Testing. Illumeo is certified to provide CPE in over two dozen different professional certifications covering finance, accounting, treasury, internal audit, HR, and more. However, in order to receive CPE credit the courses must be taken on an ‘approved-by-the-governing-body’ CPE platform, and for over two dozen corporate professional certifications, that is the Illumeo platform. Go to Illumeo dot com to learn more.
Overview
Section 1: Introduction
Lecture 1 Introduction to Sarbanes-Oxley (SOX) Testing
Lecture 2 Selecting Controls to Test
Lecture 3 Design Effectiveness
Lecture 4 Testing Operating Effectiveness
Lecture 5 Relationship of Risk to Controls Tested
Lecture 6 SOX - Nature of Tests
Lecture 7 SOX - Timing of Tests
Lecture 8 Key Vs. Secondary Controls
Lecture 9 Inquiry
Lecture 10 Walkthroughs
Lecture 11 Data Mining and Analytical
Lecture 12 Course Summary
Section 2: Supporting Materials
Lecture 13 Slides: Testing
Lecture 14 Testing Glossary/Index
Section 3: Review and Test
Anyone interested in finance, accounting, risk management or related fields.
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