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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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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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