Description:
This course – taught by and ex-payroll auditor – covers the payroll and benefit areas that are most likely to come under scrutiny due to the Sarbanes Oxley Act (SOX) Act.
SOX has far reaching implications affecting all corporate functions – including payroll. Violations can mean jail time for key company personnel – so it is wise to increase internal controls over those parts of payroll operations which have the most profound effects to your company. For instance:
How confident are you in the security over payroll information?
Do you routinely reconcile and verify your various payroll accounts?
Are your timekeeping and documentation procedures precise and complete enough?
Are liabilities such as pension liabilities reflected in the financial statements in order to comply with the new transparency guidelines?
Are your policies and procedures thorough enough to show auditors your efforts to be compliant?
If not, the Act authorizes both civil and criminal penalties for corporate officers and managers responsible for non-compliance.
This course helps identify which payroll and benefit expenses are most likely to come under scrutiny due to the SOX Act. It also makes recommendations on how to conduct internal audits designed to test controls over these areas, and ensure the results are adequately represented on corporate financial statements.
Areas to be Covered:
The Sarbanes Oxley Act’s purpose and key provisions
How the Act relates to the payroll function
What specifically the payroll department must do to promote compliance with the Act
The Internal Audit function and its part in the compliance process
Ongoing IA activities to help maintain payroll department compliance with the Act
How documentation, testing, reporting, and monitoring can ensure ongoing compliance with the Act
Who will Benefit:
Payroll Department
Accounting Department
HR Department
Small to Medium Sized Business Owners
Payroll Apprentices
Anyone involved in the SOX Compliance Process
Start up Entrepreneurs
