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Lynn Fountain, CPA, CGMA, CRMA, MBA, Consultant, Author, Trainer
Former Chief Audit Executive for two global companies, expert in SOX, COSO, ERM and corporate governance frameworks. Nationally recognized trainer, speaker published author.
This instructor has 199 courses »To Access This Course:
Prior to the Sarbanes-Oxley Act of 2002 (SOX), public accounting firms were unregulated. Their activities were monitored by the American Institute of Certified Public Accountants (AICPA). With the passing of the Act, Congress established the Public Company Accounting Oversight Board (PCAOB). The Board is tasked with the oversight of the public accounting firms for issuer companies and ensuring that SOX legislation is appropriately applied.
Understanding the origin of legislation and authoritative bodies along with their powers is important to complying with the Act. Both the PCAOB and the Securities and Exchange Commission (SEC) are important organizations related to Sarbanes-Oxley and their history, powers of authority, and ability to assess sanctions and fines is something that organizations should be integrally familiar with. This course provides a detailed outline of the roles and responsibilities of those organizations as well as related background information.
Learning Objectives
- Explore the Authoritative body background
- Explore the Securities and Exchange Commission (SEC) and Public Company Accounting Oversight Board (PCAOB) relationship
- Explore PCAOB History
- Recognize PCAOB responsibilities and authorities
- Explore the timeline of PCAOB Actions
- Recognize the penalties for SOX non-compliance
Last updated/reviewed: June 5, 2021
Included In Certifications
This course is included in the following Certification Programs:
17 CoursesSarbanes-Oxley (SOX) Certification
- Sarbanes Oxley (SOX) Overview
- SOX: Authoritative Bodies
- Sarbanes-Oxley (SOX) Standards - Evolution
- Information Technology General Controls Primer
- COSO 2013 Overview
- Sarbanes-Oxley (SOX) Section 404
- Sarbanes-Oxley Section 302: ICFR
- Sarbanes-Oxley (SOX) And Fraud Sections
- Sarbanes-Oxley (SOX) - Top Down Risk Assessment Part 1
- Sarbanes-Oxley (SOX) - Top Down Risk Assessment Part 2
- Sarbanes-Oxley (SOX) - Entity Level Controls
- Sarbanes-Oxley (SOX) Identifying and Documenting Controls
- Sarbanes-Oxley (SOX) Testing
- Sarbanes-Oxley (SOX) - Information Technology Controls
- Sarbanes-Oxley (SOX) - Assessing Material Impact
- XBRL - Connection to SOX 302/404 and Critical Roles
- Tools For Sarbanes-Oxley Compliance
27 Reviews (89 ratings)Reviews
Jennifer Pawliw
(Associate Auditor at Berkshire Bank)
The course was filled with a lot of useful information. It was easy to follow but there were some parts that I feel should have had more information. There was final exam questions that weren't fully touched upon in the material.
Anonymous
(Internal Control Expert)
It was very well structured, well-paced and easy to follow training course. Structuring the course in segments as well as offering a continuous play option is perfect for any learning style. The examples given were good.
Anonymous
(Sr. Accountant)
Another informative course on SOX authoritative bodies. The course was expertly narrated by Lynn and easy to follow along. A great refresher or opportunity gain further insight into understanding of SOX.
Marshall Balkcom
( at Assurant)
Great overview and references. Understanding the history of the PCAOB and the evolution of the organization is extremely helpful in understanding more detailed areas of SOX (and your external auditors).
Mariem Issler
(Director Internal Control, Processes and.. at Thales)
This course provide a clear understanding of the role and responsibilities of the SEC and PCAOB Authorities as well as penalties risks.
Anonymous
(Faculty)
The course was helpful. However, I was just confused with the Auditing Standards, since there was a change during the year 2017.
Melanie Cook
(Manager SOX & Accounting at First Merchants Bank)
Very well presentation explaining the history of the SEC & PCAOB, what each is responsible for, and the powers that they have.
Anonymous
(Internal Controls Manager)
The course provides a lot of history and information on SEC and PCAOB. I personally believe the course can be more concise.
Anonymous
(Internal controls manager)
This course gave good understanding of the origin of the legislation and authoritative bodies related to Sarbanes-Oxley.
Sarah Nikas
(Finance Controls and Compliance Lead at Cargill)
Good description of the PCAOB and the SEC. Alot of info, appreciate the slides that can be used for review.
Michael Mahoney
(Executive at In Transition)
Course is informative, looks out of date from a presentation perspective when compared to other LMS
Lindsay Collins
(CPA at Lindsay Collins, CPA, CFE)
This course was excellent and provided very useful information which I will utilize in the future.
Brenda Dugan
(Financial Controls Compliance Manager at United Community Bank)
Detailed, informative and an absolute requirement to understand SOX governance/regulatory bodies.
Anonymous
(Contractor)
Review is a bit gray but it is not the trainer's fault. The material is not that exciting.
Paulo Sitoe
(Internal Auditor at Nokia)
Great learning. It was great time to long through the bodies and their responsabilities
Anonymous
(Specialist SOX Compliance)
It was good to understand what SEC and PCAOB mean since those are visible "everywhere".
Anonymous
(SOX process manager)
This is a useful overview of the SEC and PCAOB history and activity to date.
Anonymous
(Senior Internal Auditor)
There wasn't much information in regards to differences between AS2 and AS5.
Anonymous
(Controls Specialist)
Good background into the SEC and PCAOB and their role and responisbilities.
Nurgul Barlybayeva
(Head of Internal Audit at KASPI.KZ JSC)
Very helpful, however, too much theoretical information, years, reports
Anonymous
(Accounting staff consultant)
Provide a good insight into the responsibilities of the SEC and PCAOB
DAVID EDWARDS
(Sr. Accountant at Calpine)
another challenging yet informative test! I really learned a lot!
ERIC ABAIDOO
( at Tullow Oil)
I have now understood the relationship between PCAOB and the SEC.
Jon McGinnis
(Internal Audit Director at One Call)
Very informative background on the authoritative bodies.
Anonymous
(Staff Operations Auditor)
This course provided a lot of interesting information.
Aline Cristina Correa
( at Disney)
good content but a little bit lagging in my opinion.
Anonymous
(SOX Senior Auditor)
A lot of interesting information.
Prerequisites
Course Complexity: Foundational
No Advanced Preparation or Prerequisites are needed for this course.
Education Provider Information
Company:
Illumeo, Inc., 75 East Santa Clara St., Suite 1215, San Jose, CA 95113
Contact:
For more information regarding this course, including complaint and cancellation policies, please contact our offices at (408) 400- 3993 or send an e-mail to .