Sarbanes Oxley:Learn about SOX Law, Titles, Sections, Audits

Explains the compliance audit in the Sarbanes-Oxley framework, reviews financial records and transactions, audit reports, security policies, access control, and risk management.

Explore the nonprofit public company accounting oversight board (Pcaob), created by Congress and overseen by the Sec, to supervise audits of us listed companies and protect investors.

Define the independent auditor's role in SOX audits, examining information systems, backup processes, security controls, and change management, with section 404 review and PCAOB oversight.

Explore internal controls and internal audit, including risk analysis, control testing, and practical examples like payroll accuracy, change management, vendor segregation of duties, and audit recommendations.

Define service organizations as third-party providers delivering financial services or SaaS, and assess the design and operating effectiveness of their controls; obtain SAS 70 service audit reports when appropriate.

Learn how the public accounting oversight board registers auditors, enforces quality control, and applies soc mandates, and how title two establishes independence standards, including rotation and limits on non-auditing services.

Explore title three: senior executives are responsible for accurate financial reports and face penalties for non-compliance. Title four establishes enhanced disclosures, internal controls, audits, and reporting of material changes.

Explore title five's rules on analyst conflict of interest. Examine title six's commission resources and authority to censure or bar security professionals for misconduct.

Explore title seven's SEC studies and reports to regulate accounting firms, credit rating agencies, and investment banks and curb illegal practices; examine title eight's penalties for fraud and whistleblower protections.

Explore title nine's ERISA penalties for mail and wire fraud, and how titles ten and eleven enforce corporate fraud accountability and CEO sign offs on tax returns.

Explain section 302's focus on the disclosure of controls. Empower CEOs and CFOs to attest the accuracy of financial information in quarterly 10-Q and annual 10-K filings with the SEC.

Explore sections 401 and 403 of the Sarbanes-Oxley act, detailing full, generally accepted accounting principles disclosures in periodic reports and management and 10% owner transactions by the second business day.

Clarify how section 404 supports Sox compliance by mandating an internal control report and management assessment, and outline four IT pillars: access, security, change management, and backup.

Section 409 requires publicly traded companies to disclose material changes in financial condition or operations to shareholders promptly, with disclosures prepared in clear, qualitative, and graphical formats.

Explore section 802 of the Sarbanes-Oxley act, detailing penalties for altering, destroying, or concealing records to influence federal investigations, including five-year retention rules and up to 20 years for violators.

Explore the coso framework and its sponsoring organizations, showing how internal controls, risk management, and governance prevent fraudulent financial reporting and guide design of the control environment for sox 404.

Discover COBIT, a governance framework for information technology that links business and IT, enabling internal controls over financial reporting and security risk management through key enablers.

Explore how the sox audit verifies financial statements, compares past and current figures, and assesses compliance before annual reports. Learn how auditors interview staff and review controls.

Audit the organization's IT infrastructure for SOX compliance, focusing on access controls and change management. Evaluate data handling, backups, incident response, and electronic records with cloud or offsite data.

Understand the consequences of failing a SOX audit, including severe criminal penalties, reputational loss, and costly security controls gaps that threaten business continuity; adopt consistent improvements and heed auditor recommendations.

Build a SOX audit preparation checklist to assess readiness and define the scope of IT assets handling financial data, identifying gaps across policies and controls.

Conclude the Sarbanes Oxley course by thanking learners, highlighting gained understanding of SOX concepts, and inviting feedback and questions via the Udemy platform.