SOX: Internal Controls for Accounts Receivable
Mike Morley is a Certified Public Accountant who holds the top credit designations in the U.S., Canada, and the U.K. An entertaining and informative speaker, Mike is a recognized authority in the field of finance.
A consultant on SOX and IFRS projects, Mike is the author of “Sarbanes-Oxley Simplified,” which 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.
Mike is the author of several books, including:
- “IFRS Simplified” which provides a jump starts for accountants and finance executives who want to quickly and easily get up to date on IFRS.
- “Sarbanes-Oxley Simplified” which 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.
- “Financial Statement Analysis Simplified” which translates the accounting language of financial statements into clear, easy-to-understand terms that anyone who needs to make well-informed financial decisions quickly will appreciate.
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.
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.
- 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?
Course Level - Intermediate/Basic
Who Should Attend
This session 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.
- Accounting and Reporting, Finance and Treasury Managers
- Company Executives
- Small business owners
- Manufacturers and Distributors Credit Department managers
- Anyone involved in credit card sales and purchases
- Anyone involved in the IFRS and SOX compliance process
Why Should You Attend
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.