What credit professionals need to understand to carry out their responsibilities and duties to ensure Sarbanes-Oxley compliance. The Sarbanes-Oxley Act of 2002 makes company executives of publicly traded US companies personally and criminally responsible for the accuracy and reliability of the financial disclosures of their companies.
The Sarbanes-Oxley Act of 2002 makes company executives of publicly traded US companies personally and criminally responsible for the accuracy and reliability of the financial disclosures of their companies. They are required to sign reports that attest to the effectiveness of their companies’ internal controls, including foreign subsidiaries.
Many of these executives are 'pushing down' the signoff of these reports to management. Credit professionals need to understand their responsibilities under the Act before they sign off on the effectiveness of the financial controls in their department. The format of the session will be a presentation followed by Q&A.
This presentation looks at specific issues affecting Credit and Accounts Receivable, including Credit Risk Management, the adequacy of provisions for Bad Debt, Collection Procedures, dependence on processes outside the credit department, and outside the company. This seminar will help Credit Professionals understand their responsibilities and duties so that they can be confident that their Credit and Accounts Receivable processes are Sarbanes-Oxley compliant.
The Sarbanes-Oxley Act of 2002 makes company executives of publicly traded US companies personally and criminally responsible for the accuracy and reliability of the financial disclosures of their companies. They are required to sign reports that attest to the effectiveness of their companies’ internal controls, including foreign subsidiaries.
Many of these executives are 'pushing down' the signoff of these reports to management. Credit professionals need to understand their responsibilities under the Act before they sign off on the effectiveness of the financial controls in their department. The format of the session will be a presentation followed by Q&A.
This presentation looks at specific issues affecting Credit and Accounts Receivable, including Credit Risk Management, the adequacy of provisions for Bad Debt, Collection Procedures, dependence on processes outside the credit department, and outside the company. This seminar will help Credit Professionals understand their responsibilities and duties so that they can be confident that their Credit and Accounts Receivable processes are Sarbanes-Oxley compliant.
Areas Covered in the seminar:
- How to establish financial controls for Credit and Accounts Receivable
- Which Credit and Accounts Receivable processes pose the greatest risk of material misstatement
- What aspects of Credit and Accounts Receivable are most susceptible to fraud
- Techniques for testing Credit and Accounts Receivable controls
- Documentation requirements specific to Credit and Accounts Receivable
- How to answer the 3 important questions required by Sarbanes-Oxley:
- Is it accurate?
- Are you sure?
- Can you prove it?
Who Will Benefit:
- Credit Professionals
- Company Executives
- Accountants
- Financial Managers
- Financial Controllers
Course Provider
Mike Morley,
