Design & Audit of Internal Control Under SOX & PCAOB Requirements

Course Overview

This course will provide guidance on the integrated audit and Internal Control Testing under SOX and PCAOB and will cover:

• SEC guidance for public companies
• 2002 Sarbanes-Oxley Act (404 and 302 in more details)
• Best practice (SOX) documentation requirement
• PCAOB Auditing Standard 5
• New requirements from PCAOB for documentation and test of control design and operating effectiveness
• PCAOB’s observations on the internal control testing and key notes from PCAOB audit of public accounting firms

Learning Objectives

• Participants will understand details within Auditing Standard 5
• Participants will identify methods for improving their audit workpapers
• Participants will understand entity-level controls and their application to risks
• Participants will learn the available guidance from the PCAOB
• Participants will discuss how internal controls are used to manage risk and reduce fraud

Who Should Attend

Internal Audit and Compliance professionals, as well as people involved in control functions.

Methodology

The course will be delivered through presentations, mini case studies, and group discussions.

Knowledge Pre-Requisites

Basic working knowledge of Internal Audit procedures and controls.