Sarbanes-Oxley Act Section 404: How to Establish an Effective Internal Controls System

Why Should You Attend:

All annual financial reports must include an internal control report stating that management is responsible for an adequate internal control structure, and an assessment by management of the effectiveness of the control structure. Any shortcomings in these controls must also be reported. In addition, registered external auditors must attest to the accuracy of the company management assertion that internal accounting controls are in place, operational and effective. Management knows that without an effective internal control system in place, the organization may be open to fraudulent transactions, theft, hefty fines, penalties, stricter government laws and rules.

This world of globalization requires businesses to become more competitive by reducing resource wastefulness, and setting directions and goals. An internal control management system will assist your company with optimization of these processes.

In this webinar, participants will learn the processes of internal controls formulation and implementation including how to develop steps for internal controls, the internal control process, how to develop tools for testing and maintaining internal controls, and how to benefit from these tools. This course will help find the dots and connect them relating to internal controls.

Learning Objectives:

• Learn how to present ideas in financial terms for greater impact
• Gain confidence with establishing controls
• Understand fundamentals of internal controls
• How to increase your competitive position by understanding the processes
• How to analyze internal controls
• Learn fundamentals of internal controls

Areas Covered in the Webinar:

• Necessity of planning internal controls
• How to evaluate your systems' strengths and weaknesses
• Characteristics of successful internal controls system
• How to limit risks and ERM process
• How to outline an internal control plan
• Processes, objectives, components and requirements for effective controls
• Put into practice the 17 principles of internal controls
• Learn the 5 elements of internal controls to help prevent fraud
• Learn SAS requirements for internal controls
• COSO, Cobit and SAC outlines and checklists
• Help employees, individuals, supervisors, managers and executives assess controls

Who Will Benefit:

• Managers
• Supervisors
• Team/ Section Leaders
• Department Heads / Managers
• Employees
• Compliance Officers
• Accountants
• Branch Managers
• AP Managers
• Anyone who wishes to increase or refresh their knowledge of internal controls

David Sanders
President, Sanders and Sullivan Consulting

David E Sanders is considered one of the world’s leading experts in accounting, finance, accounts payable, accounts receivable, budgeting, collections, cost accounting, personal finance, personal income taxes, business taxes, business set up, sales and use taxes, internal controls, inventory management, cycle counting, record keeping and vendor/supplier management. He has conducted approximately 10,000 training sessions, including public seminars, on-sites, company training, chambers of commerce trainings, colleges, videos, CDs and webinars worldwide.

Mr. Sanders is called upon nationally and internationally for his SOX training abilities and to perform, walk through interim testing for core financial processes such as internal controls, fraud detection, internal controls, financial reporting, revenue, inventory, and expenditure testing.

The author of four acclaimed books and over 25 seminar workbooks and numerous webinars, he has a talent for breaking things down into easy to understand steps that can be implemented immediately. He was an endorsed local provider for the Dave Ramsey Show covering the greater Cincinnati and Northern KY area.

Mr. Sanders has a wealth of experience to share that is supported by impeccable financial credentials including over 37 years’ experience in the financial industry. He holds numerous degrees including accounting, business administration and finance. His experience includes accounting manager, corporate controller, CFO, government tax auditor, business consultant, and senior partner with various accounting/ tax/ auditing firms nationally.

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