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Sarbanes-Oxley Compliance Workshop Key Learnings

The Sarbanes-Oxley Compliance Workshop is an incredibly content-rich offering. Besides the dynamics of “doing” that are the hallmarks of our Workshops, the Sarbanes-Oxley Compliance Workshop comes packed with specific Key Learnings. Key Learnings may be both presented in lectures and reinforced through mechanics of the Simulation. The following Fifty-Eight defined Key Learnings are infused throughout the Workshop.

Sarbanes-Oxley Section 404 Overview

Understanding of Sarbanes-Oxley Legislation – Effects on Companies
Understanding of Sarbanes-Oxley Legislation – Effects on Public Accounting Firms
Key Sarbanes-Oxley Regulatory Dates
Understanding COSO basics (Corporate Governance)
Understanding COBIT basics (IT Governance)
Understanding common Financial Statement assertions (SAS 31)
Identification of Sarbanes-Oxley information sources

Planning The Sarbanes-Oxley § 404 Compliance Project

Developing a Sarbanes-Oxley § 404 Implementation Plan for your organization
Determining a Sarbanes-Oxley Compliance Timeline for your implementation
Understanding pros/cons of “Big Bang” vs. selective “Pilot” approach
Selecting Sarbanes-Oxley resources - People, Processes, and Technologies
Selecting/developing a Control Framework for your organization

Sarbanes-Oxley § 404 Scoping For Your Organization

Considerations for Sarbanes-Oxley Risk Assessment
Determining Sarbanes-Oxley § 404 Scope for your organization
Considerations when identifying Materiality
Compliance approach for multiple related Entities & Subsidiaries
Identifying Significant Accounts & Processes
Identifying IT General Control Areas relevant to Sarbanes-Oxley
Identifying IT Application Control Areas relevant to Sarbanes-Oxley
Determining if Transaction Risk areas are relevant to Financial Risk
Risk Assessment Lessons Learned from Early Implementers

Creating The Documentation

Defining and populating your Control Framework/Hierarchy
Documentation Standards for Sarbanes-Oxley
Developing Control Objectives relevant to Sarbanes-Oxley

Assessing Controls Design

Understanding difference between test of Design vs. Effectiveness
Identifying Control Activities
Understanding Key Controls versus Secondary Controls
Identifying Control Gaps
Control Assessment Lessons Learned from Early Implementers

Remediate Control Gaps

Understanding Remediation Strategies, Methods, and Techniques
Remediation Lessons Learned from Early Implementers

Testing Controls For Effectiveness

Developing a Testing Strategy for Sarbanes-Oxley
Testing Standards for Sarbanes-Oxley
Testing Phase Lessons Learned from Early Implementers

Understanding Reporting Requirements

Understanding Sarbanes-Oxley Attestation Reporting Requirements

Maintaining Sarbanes-Oxley § 404 Program

Developing an Ongoing Compliance Program

Project Management Key Learnings

Relationships with Stakeholders
Scope Changes; Authorized or Unauthorized, Managing Expectations
Managing from the Customers viewpoint
Relationships of the 5 key PM Variables
Use of basic PM tools in Planning and Managing a Project
PM planning, estimating, control
Simple Risk Management
Basic Project Control Measures (Cost, Schedule, Quality, QPI)
Managing to Cost, Schedule, Functionality and Quality
The Project and Task Learning curve
Staffing Level on Tasks – Brook’s Law
Problem Solving Capability Matching to a Task
Skill and Skill Level Matching to a Task
Resource Smoothing
Readiness; Preparing Team Members to successfully take on a new Task.
Best use of Education/Training for Team Members
Best use of Project Meetings for Team Members
Best use of Conferences with Individuals
Best use of Overtime
Long Term Project Impact of Short Term Decisions (proactive)
Focus on the Positive – How to Treat Mistakes – “Effective Questions”
Eight Dimensions of a High Performance Team

Click here to download Registration Form ( pdf).

ManSims - offering Management Simulation Workshops in Sarbanes-Oxley Section 404 Compliance,
Project Management, Leadership and Change Management, and more.