Last updated 10/2017
MP4 | Video: h264, 1280×720 | Audio: AAC, 44.1 KHz
Language: English | Size: 526.25 MB | Duration: 3h 0m
This course is designed to provide a strong understanding of SOX concepts.
What you’ll learn
Explore the background of the Sarbanes-Oxley Act of 2002 (SOX) and recognize the purpose of auditing standards.
Explore Auditing Standard 2 (AS2).
Management assessment process,Top down approach.
Fraud, Terms, Entity level controls and walkthroughs.
Explore Auditing Standard 5 (AS5).
Key changes, Top down approach.
Entity controls, Significant Accountants, Definitions.
Explore the Next Phase – The 2013 Committee of Sponsoring Organizations (COSO) Framework.
Requirements
No advanced preparation or prerequisites are needed for this course but an understanding of Auditing standards would be helpful.
Description
Generally Accepted Auditing Standards (GAAS) are Standards against which the quality of audits are performed and judged. In the U.S., Standards are promulgated by the Auditing Standards Board (ASB), a division of the American Institute of Certified Public Accountants (AICPA). Since the passage of the Sarbanes-Oxley Act of 2002 (SOX), the Public Company Accounting Oversight Board (PCAOB) has developed standards for publicly traded companies. Sections 103(a)(2)(A) and 404(b) of the SOX Act directed the Board to establish Professional standards governing the independent auditor’s attestation and reporting on management’s assessment of the effectiveness of Internal Control Over Financial Reporting (ICFR).
Auditing Standard 2 (AS2) was the initial standard released to provide public accounting firms guidance regarding the requirements to comply with Sarbanes-Oxley. Due to the many difficulties faced by firms and issuers in the early years of compliance, the PCAOB released Auditing Standard 5 (AS5) in 2007 which superseded AS2. AS5 was designed to provide clearer guidance and eliminate some of the questions that had plagued firms and companies through the initial years of attestation. AS5 is the auditing standard currently used when complying with SOX. However, it is important to have an understanding of AS2, it’s expectations and challenges be able to appropriately scope and understand the transition to AS5. This course will provide an outline of both legislations and highlight the challenges and applications of the standards. It is important for professionals to have a strong understanding of the concepts outlined in both auditing standards and the impetus for change that resulted in AS5. This course is designed to provide a strong understanding of these concepts.
Overview
Section 1: Introduction
Lecture 1 Introduction to The Evolution of Sarbanes-Oxley (SOX) Auditing Standards
Lecture 2 Background
Lecture 3 Auditing Standard 2
Lecture 4 Management’s Assessment Process
Lecture 5 Definition of Terms
Lecture 6 Entity Level Controls and Walkthroughs
Lecture 7 Evolution of Changes
Lecture 8 Top Down Approach
Lecture 9 The Bottom Line
Lecture 10 The Next Phase
Lecture 11 The Evolution of Sarbanes-Oxley Auditing Standards Continuous Play
Section 2: Supporting Materials
Lecture 12 Slides: The Evolution of Sarbanes-Oxley (SOX) Auditing Standards
Lecture 13 The Evolution of Sarbanes-Oxley (SOX) Auditing Standards Glossary/Index
Section 3: Review and Test
Anyone interested in Accounting, Finance, Internal Auditing, or related fields.
Homepage
https://www.udemy.com/course/sarbanes-oxley-sox-auditing-standards/
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