Course ID: SOX404MC

SOX 404 Master Class: Auditing Internal Controls over Financial Reporting for Issuers

Prepare to dive deep into the intricacies of auditing SOX internal controls at issuers, as we explore the phases of the audit and share practical strategies to tackle challenges head-on. This course promises focused attention on critical issues, interactive activities, and real-world examples that will bring the concepts to life. Whether you’re dealing with scoping, risk assessment, or evaluating internal controls, you’ll leave this course with the tools and confidence to excel in your role.

In-person CPE credit: 6.0
Live webcast CPE credit: 6.0

Learning Objectives

After completion of this course, participants will be able to:

Apply the PCAOB standards related to SOX audit planning, including effectively providing supervision and review over scoping, risk assessment, performing walkthroughs to understand relevant end-to-end processes, and identifying controls relevant to the audit.
Formulate clear “why’s” to your engagement teams and clients for the procedures you perform during the audit and staying grounded in the risk throughout your procedures.
Interpret the requirements for testing the design and operating effectiveness of internal controls over financial reporting, and apply lessons learned from recent PCAOB inspection trends as they lead SOX audits.
Evaluate the results of testing performed over internal controls, including the determination of whether matters identified during the audit rise to the level of significant deficiencies and/or material weaknesses.

Major Topics

PCAOB Standards for SOX External Audits
PCAOB Inspection Themes in ICFR
Planning for Successful SOX Audits
Testing Design and Effectiveness of Internal Controls
Evaluating Results of Internal Control Testing
COSO Components
Auditing Controls
Supervision & Review

Who Should Attend

Managers through Partners

Fields of Study

Auditing

Prerequisites

Participants should possess a foundational understanding of auditing principles and practices, ideally with at least 3-4 years of experience in auditing internal controls. Familiarity with the Sarbanes-Oxley Act (SOX) requirements, specifically Section 404, is essential. Knowledge of the COSO framework and its components, as well as experience with evaluating the design and effectiveness of internal controls, will be crucial for maximizing the benefits of this intermediate-level course. Prior exposure to PCAOB standards and inspection themes in ICFR, along with experience in planning and executing SOX audits, is highly recommended.

Provider

Business Learning Institute

CPE Credits

6.0

Level

Intermediate

Markets We Serve