When the SOX legislation passed, legislators and investors were concerned about the many instances of corporate fraud that had occurred. This concern manifested in several separate sections of the legislation including:

  • Title V: Analyst Conflicts of Interest
  • Title VIII: Corporate and Criminal Fraud Accountability
  • Title IX: White Collar Crime Penalty Enhancement
  • Title XI: Corporate Fraud Accountability

Many things have changed in 20 years since the introduction of Sarbanes-Oxley. Fraud is still a concern and in today’s world there are more and more ways that fraud can be conducted. Companies must remain vigilant in their efforts to vet out fraud and ensure their organizations have proper processes in place to protect their information and their shareholders.

This session provides a look at the concept of fraud – 20 years after the Sarbanes-Oxley legislation was passed.

Other Segments of Sarbanes-Oxley Update - 20 Years Later by Lynn Fountain.
Sarbanes-Oxley Update - 20 Years Later: Accounting Risk Assessment Considerations
Sarbanes-Oxley Update - 20 Years Later: Sourcing Emerging Risks Part 1
Sarbanes-Oxley Update - 20 Years Later: Evaluating Testing Processes
Sarbanes-Oxley Update - 20 Years Later: Sourcing Emerging Risks Part 2
Sarbanes-Oxley Update - 20 Years Later: Examining Fraud Risks

Learning Objectives
  • Discover and revisit the various fraud sections.
  • Identify and review the concept of fraud evaluations.
  • Explore and examine current survey statistics on SOX efforts.
  • Recognize and understand the efforts of the Anti-Fraud Collaboration effort started in 2010.
  • Explore and evaluate concepts identified in the AFC survey to enhance your fraud efforts.
Last updated/reviewed: August 5, 2023
8 Reviews (49 ratings)

Reviews

4
Anonymous Author
Great overview of s fraud sections,the efforts of the Anti Fraud Collaboration effort started in 2010 and concepts identified in the AFC survey to enhance fraud efforts.

5
Anonymous Author
I am preparing to return to internal audit after a sabbatical, and found this update very beneficial in identifying the areas where I need to catch up.

4
Anonymous Author
excellent course. The use of data analytic trends was very interesting, and valuable in the SOX environment.

5
Member's Profile
I thought this course was a good overview and refresher and brought up new topics as well. Recommend.

5
Member's Profile
Very informative. Speaker covered objectives clearly and concisely. Excellent class.

5
Anonymous Author
great overview of changes/ development of SOX in the current environment

5
Anonymous Author
Great slides and presentation. Easy to follow and understand

5
Anonymous Author
Great overview of fraud risk topics and insights of SOX.

Prerequisites
Course Complexity: Foundational
No advanced preparation or prerequisites are required 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 .
Instructor for this course
Course Syllabus
INTRODUCTION AND OVERVIEW
  Introduction to Sarbanes-Oxley Update - 20 Years Later: Examining Fraud Risks4:21
  Sarbanes Oxley Fraud Sections3:53
  SOX Fraud Evaluations3:58
  Anti Fraud Collaboration9:00
  Identifying Fraud in the Future16:00
  Using Skepticism to Vet Out Fraud9:14
  Fraud in the Future3:26
  Perspective of Financial Reporting Fraud and SEC Investigations7:41
  Fraud Focus in the New Environment10:00
  New Methods to Identify Fraud7:35
  Machine Learning and Artificial Intelligence7:17
  Other Methods and Conclusion7:20
CONTINUOUS PLAY
  Sarbanes-Oxley Update - 20 Years Later: Examining Fraud Risks1:29:45
SUPPORTING MATERIAL
  Slides: Sarbanes-Oxley Update - 20 Years Later: Examining Fraud RisksPDF
  Sarbanes-Oxley Update - 20 Years Later: Examining Fraud Risks Glossary/IndexPDF
  Handouts: Top Fraud Risks in TodayPDF
REVIEW AND TEST
  REVIEW QUESTIONSquiz
 FINAL EXAMexam