Sarbanes-Oxley (SOX): Top Down Risk Assessment Part 1
- 4.1
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Brief Introduction
This course covers critical concepts of AS5 risk factors when identifying significant accounts and more.Description
In the early years of Sarbanes-Oxley (SOX), organizations went to significant detail documenting and testing financial processes. The Public Company Accounting Oversight Board (PCAOB) stressed in Auditing Standard 5 (AS5) the need to focus testing on those accounts that could materially impact the financial statements. AS5 prescribes that the auditor should use a top-down approach to the audit of Internal Control Over Financial Reporting (ICFR).
Although AS5 provides guidance on performing a top-down Risk Assessment (RA), many organizations still struggle with the concept. This course will focus on the requirement for a top-down RA and processes your organization can utilize to effectively apply the approach. We will cover critical concepts of AS5 risk factors when identifying significant accounts as well as the importance of evaluating entity level controls.
If you would like Continuing Education Credit (e.g. CPE, CE, CPD, etc.) for this course, it is available if you take this course on the Illumeo dot com platform under course title: Sarbanes-Oxley (SOX): Preparing for a Top Down Risk Assessment Part 1. Illumeo is certified to provide CPE in over two dozen different professional certifications covering finance, accounting, treasury, internal audit, HR, and more. However, in order to receive CPE credit the courses must be taken on an ‘approved-by-the-governing-body’ CPE platform, and for over two dozen corporate professional certifications, that is the Illumeo platform. Go to Illumeo dot com to learn more.
Requirements
- Requirements
- No advanced preparation or prerequisites are needed for this course.
Illumeo Learning
4.1 Raiting
Sarbanes-Oxley (SOX) General and Applications Controls
- 4.3
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This course speaks directly to the importance of general controls (GC), application controls (AC) and spreadsheet. The world has changed, and IT is no longer simply a back office function....
Sarbanes-Oxley (SOX): Top Down Risk Assessment Part 1
- 4.1
-
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This course covers critical concepts of AS5 risk factors when identifying significant accounts and more. If you would like Continuing Education Credit (e....
Sarbanes-Oxley (SOX): Top Down Risk Assessment Part 2
- 4
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This course focuses on the methodology steps reviewed in Segment One of developing a top-down risk assessment....
