SOX: Authoritative Bodies

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.  

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.

NOTE: The Instructor has created 5 new segments on Sarbanes-Oxley Update – 20 Years Later:

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