Sarbanes-Oxley (SOX) Auditing Standards

This course is designed to provide a strong understanding of SOX concepts.

3.60 (157 reviews)
Udemy
platform
English
language
Accounting & Bookkeeping
category
Sarbanes-Oxley (SOX) Auditing Standards
616
students
3 hours
content
Oct 2017
last update
$44.99
regular price

What you will 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.

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faced by firms and issuers in the early years of compliance, the PCAOB released Auditing Standard 5 (AS5) in 2007 which superseded AS2.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. 

Content

Introduction

Introduction to The Evolution of Sarbanes-Oxley (SOX) Auditing Standards
Background
Auditing Standard 2
Management's Assessment Process
Definition of Terms
Entity Level Controls and Walkthroughs
Evolution of Changes
Top Down Approach
The Bottom Line
The Next Phase
The Evolution of Sarbanes-Oxley Auditing Standards Continuous Play

Supporting Materials

Slides: The Evolution of Sarbanes-Oxley (SOX) Auditing Standards
The Evolution of Sarbanes-Oxley (SOX) Auditing Standards Glossary/Index

Review and Test

Review Questions
FINAL EXAM

Reviews

Jesús
December 9, 2022
I was expecting diagrams, forms, a matrix, documents, in general samples to apply, but it is only theory.
Sharon
January 31, 2022
It's a good course but misleading - it's not 3 hours of lectures, it's 1.5hours broken down into 9 videos AND the entire thing again as a 1.5h addition. So really it's a 1.5h webinar
Ian
July 23, 2021
O curso é listado com uma carga horária de 3hrs, mas efetivamente tem somente 1,5 hrs (a última aula é somente todas as aulas anteriores compiladas em um arquivo único). Em razão disso o conteúdo é muito mais raso que o esperado.
Vishwaradhya.A.Awanti
July 17, 2021
The discussion give many details on SOX which were not known earlier....So Background to SOX is as very important part to under stand SOX now....!!
Tomislav
January 2, 2021
I work as auditor and i am using this class to refresh knowleadge. Mail reason I put 3/5 is because in real audit you dont need to know what standard put what. You can learn, and you can see, but that is not practial for real work.If class would be put as comparison with resources for what AS2 has and what AS5 hav with ISO standards. That would be real class
Pancham
June 3, 2020
Lecture no. 11 could be removed as it is a consolidated version of all earlier lectures. The lecture video can be removed or re-positioned in few slides as the wording get hidden.
Subhamoy
May 25, 2020
Explanations were good but it could be better. It could be helpful to understand if more practical problems were added into the content along with theoretical explanations. Thank you...
Ikram
April 3, 2020
The instructor is very good at explaining but this is a webinar, which focuses on only a few key topics. It is definitely helpful to have an idea about SOX, but it is obviously not a course. Besides, second half of the course(!) is a repetition of the first half, which means that the duration is roughly 1.5 hours. Still, thanks a lot!
Sambandamurthy
January 14, 2020
I have about 15 years of auditing, Fraud examination exposure, to k ow about the act which give a complete process and regulation for companies to follow and a handbox for internal auditor to use as a bible
Zac
July 17, 2019
I think this would be better described as targeting an accountant or auditor looking for historical information on Auditing Standards 2 and 5. With a technology background I was hoping for more of an overview.
Murat
May 27, 2018
The training was good, but it can be improved by adding more videos. Especially, I cannot understand why the teacher put a video of continuous playing.

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1335662
udemy ID
8/30/2017
course created date
11/22/2019
course indexed date
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