The Impact of Sarbanes-Oxley on Internal Controls
Provider: Becker Professional Education
Length: 132
Auditing
2.5 CPE Credits
Basic
QAS self study
Fraud Related
This course will be an overview of:
- The Committee of Sponsoring Organizations (COSO) of the Treadway Commission Study established internal control to be a process with five interrelated components. Learn how the far-reaching COSO principles enable compliance with the stringent requirements of the watershed Sarbanes-Oxley Act of 2002 .
- Review the Internal Control framework as developed in the COSO study.
- Understand how the COSO ICF enables compliance with the requirements of the Sarbanes-Oxley Act.
- Summarize the Act's effects on the components of an entity's internal control system.
- Summarize the Act's effect on the control environment, including the audit committee's role and the rules governing public accounting firms;
- Discuss the Act's effect on risk assessment and how it is important to the management certification of the internal control system;
- Describe the Act's effect on control activities, focusing on the assessment, documentation, testing, and materiality of control activities; and
- Summarize the Act's effect on monitoring, information, and communication.