SOX Compliance: Accounts Receivable


Overview
The Sarbanes-Oxley Act of 2002 makes company executives of publicly traded US companies personally and criminally responsible for the accuracy and reliability of the financial disclosures of their companies. Many of these executives are "pushing down" the signoff of these reports to management. Credit professionals need to understand their responsibilities under the Act before they sign off on the effectiveness of the financial controls in their department.

Objectives

  • How to establish financial controls for Credit and Accounts Receivable
  • Which Credit and Accounts Receivable processes pose the greatest risk of material misstatement
  • What aspects of Credit and Accounts Receivable are most susceptible to fraud
  • Techniques for testing Credit and Accounts Receivable controls
  • Documentation requirements specific to Credit and Accounts Receivable
  • How to answer the 3 important questions required by Sarbanes-Oxley:
  • Is it accurate?
  • Are you sure?
  • Can you prove it?
Prerequisite
None

Preparation
No advance preparation required

Level of Knowledge
Overview

CPE Credit
2 Hours

Delivery Method  
Group Internet Based

NASBA Field of Study
Auditing

Author
Mike Morley