For

Non financial managers and executives in UK companies

Needs

• Understanding of how and why SOX changes corporate governance for UK companies
• Awareness of management responsibilities under SOX
• Operational management support for enhanced controls
• Increased awareness of the concept of risk management and financial control

Content

• Introduction to corporate fraud, corruption, negligence
• The damage caused and the need for counter measures like SOX
• The background to SOX and its provisions
  
  • 201 - prohibited services from auditors
  • 206 - auditors conflict of interest
  • 302 - the duty of financial officers
  • 401 - financial disclosures
  • 402 - conflict of interest
  • 404 - the internal control report and submission
  • 406 - code of ethics
  • 409 - real-time disclosure
  • 802 - penalties for altering documents
  • 806 - protection for white collar staff who expose fraud
  • 90x - penalties
  • 1102 - tampering with a record or impeding a proceeding
• The 404 internal control report
  
  • The framework for control
    
    • Internal controls in relation to financial reporting (SEC definition)
    • The COSO framework for internal control (ref PCAOB 2)
    • The Cobit framework for IT control
  • Introduction to the concepts and logic of financial controls and testing
  • Introduction to the concepts of risk based controls
  • Introduction to corporate governance
  • The role of operational management in anti-fraud, financial controls, risk management, and governance.
  • Coverage of how financial controls can be used to improve business processes

Outcome

Attendees will :-
 

• Possess a clear understanding of the reasons why SOX compliance is a prominent business issue.
• Appreciate its importance and support the work involved in achieving compliance.
  Be familiar with the duties that SOX places on senior executives and company management.
• Able to understand and make a positive contribution to the compliance process.
   

Format

Training will consist of lectures, discussions, exercises and tests.
Maximum of 8 attendees per course.


Who should attend

Executives and managers for UK companies who are SOX signatories and others who have to be familiar with SOX objectives and tone from the top.


For further information on our courses click here, call +44 870 7743 055 or email info@quartus-solutions.com