Here is an overview of what the testing training will cover. Our testing is on Test of Effectiveness or TOE. We’re verifying that control has been in place, and it operates as it was designed over a period of time. Lead Sheet & Control Descriptions; Test Procedures; & Workpaper Documentation
In this session, I will be reviewing with you a SOX Walk-through and an example of documentation and what level of detail is needed so that auditors can rely on your work. Objectives of Walk-through; Control Descriptions; Walk-through Procedures; and Document Example.
Welcome to SOX system reports testing. Report testing has received a lot of focus by external auditors and the PCAOB recently so we want to address it today. The reason these system-generated reports are important is because management uses them to make judgements for booking journal entries or recording financial transactions and…
It’s always great to apply the effective and best practices for SOX Kick-off meetings. It’s not just a meet and greet meeting, it’s the opportunity to set the expectations and alignment with the project team and the client to be able to launch or improve a SOX project successfully…
This is part 2 on building a project timeline for SOX 404. We answer tactical questions like: (1) Which processes should we start with? (2) When should we do the process documentation? (3) When should we do the walk-throughs? (4) When should we do the testing? (5) How many rounds of testing should we do?…
We will be learning how to build an annual project timeline for SOX 404 compliance. In this session, we dive into a lot of details on how we build a project timeline and the rationale behind it. We answer questions like: (1) What does the annual SOX timeline look like? (2) What key activities & processes to include in the timeline? …
n the previous blog, we covered SOX 404 requirements and the JOBS Acts. Now, we get practical and tactical. In this session, we answer the following questions: (1) Who runs the SOX 404 process? (2) What is the suggested compliance approach? (3) How long does the 404 process take to implement? (4) What is the typical plan for SOX compliance? …
We covered the foundation and theory behind the Auditing Standard 5 which tells us HOW to comply with SOX 404. Now, we discuss the SOX 404 requirements and the impact of the JOBS Act
In Part 2, we learned who to include in the 302 certifications (linked to article #32), who to include in the Disclosure Committee and when to start the 302 certification process. Today in Part 3, we answer the following questions: (1) What tools can we use to automate the certification process? (2) What should be included in the certification letters?…
In Part 1, we summarized the SOX 302 requirements, the certification set-up overview and who…