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How to write Effective Internal Controls System relating to SOX
- Necessity of planning Internal Controls
- How to evaluate your systems' strengths and weaknesses
- Characteristics of successful Internal Controls System
- How to limit risks and ERM process
- How to outline an internal control plan
- Processes, objectives, components and requirements for effective controls
- Put into practice the 17 principles of internal controls
- Learn the 5 elements of internal controls to help prevent fraud
- Learn SAS requirements for Internal Controls
- COSO, COBIT and SAC outlines and checklists
- Help all employees, individuals, supervisors, mangers and executives assess controls
Overview of the webinar
This webinar will enhance your knowledge of SOX Section 404 (Sarbanes-Oxley Act Section 404) by helping you understand the elements of an internal controls system. Internal controls are a key part of any organization's continued growth, performance and success. With fraud at an all time high, a well designed internal control structure will enhance operations by improving your department's overall security and effectiveness. SOX Section 404 mandates that all publicly-traded companies must establish internal controls and procedures for financial reporting and must document, test and maintain those controls and procedures to ensure their effectiveness.
All annual financial reports must include an Internal Control Report stating that management is responsible for an "adequate" internal control structure and an assessment by management of the effectiveness of the control structure. Any shortcomings in these controls must also be reported. In addition, registered external auditors must attest to the accuracy of the company management assertion that internal accounting controls are in place, operational and effective. Management knows that without an effective internal control system in place, the organization may be open to fraudulent transactions, theft, hefty fines, penalties, stricter government laws and rules.
This world of globalization requires businesses to become more competitive by reducing resource wastefulness, setting directions and goals. An internal control management system will assist your company with optimization of these processes.
In this webcast, you will learn the processes of internal controls formulation and implementation including how to develop steps for internal controls, the internal control process, how to develop tools for testing and maintaining internal controls and how to benefit from these tools. This course will help to "find the dots" then "connect the dots" relating to Internal Controls.
Who should attend?
- Managers
- Supervisors
- Team/ Section Leaders
- Department Heads/Managers
- Employees
- Compliance Officers
- Accountants
- Branch Managers
- AP Managers
- Anyone who wishes to increase or refresh their knowledge of Internal Controls
Why should you attend?
- Learn how to present ideas in financial terms for greater impact
- Gain confidences with establishing controls
- Understand fundamentals of Internal Controls
- How to increase your competitive position by understanding the processes
- How to define and write effective controls
- How to analyze an Internal Control
- Learn Best Practices
Faculty - Mr.David Sanders
Dr. David Sanders is widely considered one of the nation's leading expert on accounting, accounts payable, accounts receivable, collections, budgets, personal finance, personal income taxes, business taxes, business set up, sales & use taxes, non-profits, accounting internal controls, vendor and supplier management. He has continuous requests by seminars companies to travel and speak at different companies, business conferences and to hold public seminars. He has conducted over 10,000 seminars, webinars, conferences and company's on-sites training sessions worldwide.
The author of 4 acclaimed books, 25 seminar workbooks, numerous training tapes, he holds seminars and conferences nationwide, he breaks things down into easy to understand steps that you can implement immediately. David was an Endorsed Local Provider / Consultant for the Dave Ramsey Show covering the whole Greater Cincinnati and Northern Ky. Area; Dr. David has appeared on Fox Business Network TV and WQRT/ WLW Radio has a National Business Specialist/ Consultant.
Dr. David has a wealth of experience to share that is supported by impeccable financial credentials including over 37 years’ experience in the financial industry and holds numerous degrees including Accounting, Business Administration, Taxation and Finance. For the past 37 years, David experience has included, Accounting Manager, Corporate Controller, Tax Auditor, CFO and Senior Partner for different Accounting/ Tax/ Auditing firms located in the US.