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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.

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