Accounts Receivables: How 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. 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

Instructor Profile:

Mike Morley, is a Certified Public Accountant who holds the top credit designations in the U.S., Canada, and the U.K. Mike is a recognized authority in the field of finance with more than 25 years experience in both consumer and commercial credit and collections.

C.P.A. - Certified Public Accountant, Illinois, USA
C.C.E. - National Association of Credit Management, USA
F.C.I. - Canadian Credit Institute, Canada
M.I.C.M. The Institute of Credit Management, U.K.
MBA - Southwest University
B.Admin University of Ottawa

Mike is the author of 2 books that are currently available:

Sarbanes-Oxley Simplified, is an easy-to-read explanation of the requirements of the U.S. legislation:

• that makes CEO's & CFO's personally responsible for the accuracy of their company's financial statements
• that affects Canadian companies that are subsidiaries of US companies
• whose compliance requirements are costing companies billions of dollars

Credit & Credit Repair for Canadians, which explains how the Canadian Credit industry works and shows consumers and small business owners how to:

• fix problems on their credit report
• protect themselves from Identity Theft
• avoid credit repair scams
• improve your credit score
• negotiate with creditors

For more details about Mike, please visit his website: http://www.mikemorley.com

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