Sarbanes Oxley Overview

Sarbanes-Oxley was passed in 2002 and year one of attestation for publicly traded companies was 2004. Years later the legislation continues to challenge companies, auditors and compliance professionals when evaluating a company’s control structure. SOX 404, although the most prominent, is only one of the many requirements covered under the legislation.

In addition, the impetus of COSO 2013 has re-focused companies’ efforts on evaluating their key controls. Companies must continually evaluate whether they have designed and identified the proper controls and have adequate tests in place to determine control efficiency. With the evolution of technology solutions, the impact of information systems changes must be continually evaluated to ensure controls are adequately addressed.

This Sarbanes Oxley training course is an overview of what is compiled and required in the full legislation. We discuss the eleven titles that make up the legislation:

• Title I: Establishment of Public Company Accounting Oversight Board (PCAOB).
• Title II: Establishes the conditions and regulations governing auditor independence.
• Title III: Focuses on establishing the guidelines for corporate responsibility.
• Title IV: Consists of nine sections and is focused on the accuracy and requirements of financial disclosures.
• Title V: Analyst conflicts of interest. Title V consists of one section, which includes measures designed to help restore investor confidence.
• Title VI: Commission resources and authority.
• Title VII: Studies and Reports.
• Title VIII: Corporate and Criminal Fraud Accountability Act of 2002.
• Title IX: WHITE-COLLAR CRIME PENALTY ENHANCEMENTS.
• Title X: Also known as the “White-Collar Crime Penalty Enhancement Act of 2002.
• Title XI: CORPORATE FRAUD AND ACCOUNTABILITY.

Information within this course comes from readily available public domain documents and is utilized by the trainer as a supplement for relaying the course content.

Note: The concepts outlined in this course are up to date and relevant in regard to the Sarbanes-Oxley legislation. Although there have not been any changes in the legislative concepts of the law since its release in 2002, some aspects of executing the work have evolved. This speaker is preparing a series of courses titled “Sarbanes-Oxley 20 years later”. Those courses can be found individually on the platform and would be beneficial for anyone involved with compliance.