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"From
SOX to J-SOX: Lessons Learned from
the Implementation of Sarbanes Oxley Act in the USA and the World" |
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From Sarbanes
Oxley to the Financial Instruments and Exchange Law (J-SOX) |
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Welcome to
Compliance LLC
Compliance LCC is a
leading international provider of Sarbanes Oxley and Basel ii
compliance consulting and training.
Course Title
"Lessons Learned from the
Implementation of Sarbanes Oxley Act in the USA and the World"
Objectives:
The seminar has been designed to provide with
the knowledge and skills needed to understand and support J-SOX and
Sarbanes Oxley compliance.
Target Audience:
This course is recommended for all managers
and professionals who need to understand and speak the specialized
language of compliance, which must become the common language
throughout their organization.
Duration:
3 Days,
09:00 to 17:00 each day
Course Synopsis:
·
The Sarbanes Oxley Act
· The Need
·
US
federal legislation: Financial reporting or corporate governance?
·
The
Sarbanes-Oxley Act of 2002: Key Sections
·
SEC,
EDGAR, PCAOB, SAG
·
The Act
and its interpretation by SEC and PCAOB
·
PCAOB
Auditing Standards: What we need to know
·
Management's Testing
·
Management's Documentation
·
Reports
used to Validate SOX Compliant IT Infrastructure
·
Documentation Issues
·
Sections
302, 404, 906 and the three certifications
·
Sections
302, 404, 906: Examples and case studies
·
Management's Responsibilities
·
Committees and Teams
·
Project
Team – Section 404: Reports to Steering Committee
·
Steering
Committee – Section 404: Reports to Certifying Officers and
cooperates with Disclosure Committee
·
Disclosure Committee: Reports to Certifying Officers and cooperates
with Audit Committee
·
Certifying Officers and Audit Committee: Report to the Board of
Directors
·
Control
Deficiency
·
Deficiency in Design
·
Deficiency in Operation
·
Significant Deficiency
·
Material
Weakness
·
Is it a
Deficiency, or a Material Weakness?
·
Reporting Weaknesses and Deficiencies
·
Examples
·
Case
Studies
·
Public
Disclosure Requirements
·
Real
Time Disclosures on a rapid and current basis?
·
Whistleblower protection
·
Rulemaking process
·
Companies Affected
·
International companies
·
Foreign
Private Issuers (FPIs)
·
American
Depository Receipts (ADRs)
·
Types of
ADR programs
·
Employees Affected
·
Effective Dates
·
The
J-SOX: Financial Instruments and Exchange Law
·
The Need
·
Key
Sections
·
The
interpretations
·
From the
Securities
Act and Securities Exchange Act to Sarbanes Oxley in the United
States
·
From the
Securities
and Exchange Law to the Financial Instruments and Exchange Law
in Japan
·
Similarities and Differences between SOX and J-SOX
·
Lessons
learned from the implementation of Sarbanes Oxley in the USA
·
Lessons
learned from the implementation of Sarbanes Oxley in the world
·
Internal Controls Framework in the USA - COSO
·
The
Internal Control — Integrated Framework by the COSO committee
·
Using
the COSO framework effectively
·
The
Control Environment
·
Risk
Assessment
·
Control
Activities
·
Information and Communication
·
Monitoring
·
Effectiveness and Efficiency of Operations
·
Reliability of Financial Reporting
·
Compliance with applicable laws and regulations
·
IT
Controls
·
IT
Controls and Sarbanes Oxley Act Relevance
·
Program
Development and Program Change
·
Deterrent, Preventive, Detective, Corrective, Recovery,
Compensating, Monitoring and Disclosure Controls
·
Layers
of overlapping controls
Internal Controls Framework in Japan
·
COSO and
J-SOX
·
Differences in the compliance frameworks between Japan and the USA
·
The “Evaluation and Auditing
Standards for Internal Control For Financial Reports” (December
2005)
·
Four
high level objectives:
(1) effectiveness and efficiency of operations
(2) reliabile financial reports
(3) compliance with laws and regulations
(4) preservation of assets
·
Six
areas:
(1) control environment
(2) risk assessment
(3) control activities
(4) information and communication
(5) monitoring
(6) IT support
·
Differences in the compliance frameworks between Japan and the USA
Compliance
Challenges
·
Scope of Sarbanes Oxley Project
·
Discussing the scope with the external auditors
·
Assumptions
·
In or
out of scope?
·
Is it
relevant to Sarbanes Oxley?
·
Using
SOX as an excuse
·
Computer
Forensics Investigation?
·
Business
Intelligence?
·
Business
Continuity and Disaster Recovery?
·
Third-party service providers and vendors
·
Redefining outsourcing
·
Outsourcing services and Sarbanes Oxley compliance
·
The new
definition of outsourcing
·
Outsourcing after Sarbanes Oxley
·
Offshore
outsourcing is also redefined
·
Key
risks of outsourcing
·
What is
needed from vendors and service providers
·
SAS 70
·
Type I,
II reports
·
Advantages of SAS 70 Type II
·
Disadvantages of SAS 70 Type II
·
Working
with vendors and service providers
·
Sarbanes
Oxley and other compliance projects
· From
SOX to J-SOX
·
Multinational Enterprises (MNEs) and Compliance
·
Common
elements and differences of compliance projects
·
New
standards and Due Diligence challenges
·
Internal and External auditors, SOX and J-SOX
·
The
board of Directors, SOX and J-SOX
·
From
Sarbanes Oxley to J-SOX
The Instructor
George Lekatis is a senior risk and
compliance consultant, certified trainer, and general manager of
Compliance LLC, a leading international provider of Sarbanes Oxley
and Basel ii training and consulting in more than 30 countries.
George has more than 17,000 hours
experience as a professional speaker and seminar leader.
Has worked for more than 11 years
as a management consultant and educator and has demonstrated
exceptional presentation and communication skills.
To learn more
click here
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