Certified Sarbanes-Oxley Expert (CSOE), distance learning and online certification program

Objectives

The program has been designed to provide with the knowledge and skills needed to understand and support Sarbanes-Oxley compliance, and to become a Certified Sarbanes Oxley Expert (CSOE).

Target Audience

This course is intended for firms and organizations demanding qualified professionals and consultants that meet the fit and proper requirements in risk and compliance management. Sarbanes Oxley knowledge is a very important asset is a resume, and the CSOE program is recognized by the industry in many countries.

This is part of a job description in the UK (September 2018).

The CSOE program is highly recommended for:

  • Managers and employees involved in the design and implementation of Sarbanes-Oxley related strategies, policies, procedures, risk assessments, control activities, testing, documentation, monitoring and reporting.
  • Risk, compliance and IT managers and employees.
  • Internal and external auditors.
  • Data owners.
  • Process owners.
  • Consultants, suppliers, service providers.
  • Course Synopsis

    Part 1

    Introduction.
    The CSOE exam.

    The need.
    The Sarbanes-Oxley Act.
    Companies affected.
    Does each provision apply to every company?
    Foreign Private Issuers (FPIs).
    The Registration Process.
    EDGAR - Electronic Data Gathering, Analysis, and Retrieval system.
    Case studies.
    Companies affected - American Depository Receipt (ADR) program.
    Level 1 ADR.
    Level 2 ADR.
    Level 3 ADR.
    Employees affected.

    The Sarbanes-Oxley Act - Key Sections.

    Title I—Public Company Accounting Oversight Board.
    Sec. 101. Establishment; administrative provisions.
    Sec. 102. Registration with the Board.
    Sec. 103. Auditing, quality control, and independence standards and rules.
    Sec. 104. Inspections of registered public accounting firms.
    Sec. 105. Investigations and disciplinary proceedings.
    Sec. 106. Foreign public accounting firms.
    Sec. 107. Commission oversight of the Board.
    Sec. 108. Accounting standards.
    Sec. 109. Funding.

    Title II—Auditor independence.
    Sec. 201. Services outside the scope of practice of auditors.
    Sec. 202. Preapproval requirements.
    Sec. 203. Audit partner rotation.
    Sec. 204. Auditor reports to audit committees.
    Sec. 205. Conforming amendments.
    Sec. 206. Conflicts of interest.
    Sec. 207. Study of mandatory rotation of registered public accounting firms.
    Sec. 208. Commission authority.
    Sec. 209. Considerations by appropriate State regulatory authorities.

    Title III—Corporate Responsibility.
    Sec. 301. Public company audit committees.
    Sec. 302. Corporate responsibility for financial reports.
    Sec. 303. Improper influence on conduct of audits.
    Sec. 304. Forfeiture of certain bonuses and profits.
    Sec. 305. Officer and director bars and penalties.
    Sec. 306. Insider trades during pension fund blackout periods.
    Sec. 307. Rules of professional responsibility for attorneys.
    Sec. 308. Fair funds for investors.

    What the critics say.

    Title IV—Enhanced Financial Disclosures.
    Sec. 401. Disclosures in periodic reports.
    Sec. 402. Enhanced conflict of interest provisions.
    Sec. 403. Disclosures of transactions involving management and principal stockholders.
    Sec. 404. Management assessment of internal controls.
    Sec. 405. Exemption.
    Sec. 406. Code of ethics for senior financial officers.
    Sec. 407. Disclosure of audit committee financial expert.
    Sec. 408. Enhanced review of periodic disclosures by issuers.
    Sec. 409. Real time issuer disclosures.

    What the critics say.

    Title V—Analyst Conflicts of Interest.
    Title VII—Studies and Reports.

    Title VIII—Corporate and Criminal Fraud Accountability.
    Sec. 801. Short title.
    Sec. 802. Criminal penalties for altering documents.
    Sec. 803. Debts no dischargeable if incurred in violation of securities fraud laws.
    Sec. 804. Statute of limitations for securities fraud.
    Sec. 805. Review of Federal Sentencing Guidelines for obstruction of justice and extensive criminal fraud.
    Sec. 806. Protection for employees of publicly traded companies who provide evidence of fraud.
    Sec. 807. Criminal penalties for defrauding shareholders of publicly traded companies.

    Whistleblowers – a Qui Tam Provision.
    Whistleblowers after Sarbanes-Oxley.
    Foreign Whistleblowers.
    Whistleblowers after the Dodd-Frank Act.

    Title IX — White Collar Crime Penalty Enhancements.
    Sec. 901. Short title.
    Sec. 902. Attempts and conspiracies to commit criminal fraud offenses.
    Sec. 903. Criminal penalties for mail and wire fraud.
    Sec. 904. Criminal penalties for violations of the Employee Retirement Income Security Act of 1974.
    Sec. 905. Amendment to sentencing guidelines relating to certain white-collar offenses.
    Sec. 906. Corporate responsibility for financial reports.

    Sections 302 – 404 - 906
    Committees and Teams – Review.

    Part 2

    The SEC and the Sarbanes Oxley Act.
    The Securities Act of 1933.
    The Securities Exchange Act of 1934.
    How the SEC Rulemaking Process works.
    SEC investigation.
    Common violations that may lead to SEC investigations.
    Disclosing an investigation.
    Document retention.
    Settlements.

    The PCAOB.
    The PCAOB rulemaking process.
    PCAOB Auditing Standard No. 1.
    PCAOB Auditing Standard No. 2.
    Management's Documentation.
    Performing Walkthroughs.
    Narratives.
    Process maps.
    Timing - Tests of Controls.
    Auditing Standard No. 3.
    Audit documentation.
    Who reviews work papers.

    Auditing Standard No. 4.
    Reporting on Whether a Previously Reported Material Weakness Continues to Exist.
    Sufficient competent evidence.

    Auditing Standard No. 5.
    What is a control objective.
    What is deficiency in design or operation.
    What is a material weakness.
    Controls.
    Multiple Locations Scoping Decisions.
    Planning the Audit.
    Addressing the Risk of Fraud.
    Using the Work of Others.
    Using a Top-Down Approach.
    Entity-Level Controls.
    Activity-Level Controls.
    Performing Walkthroughs.
    Evaluating Identified Deficiencies.
    Communicating Certain Matters.

    Auditing Standard No. 6.
    Evaluating the Consistency of Financial Statements.

    Auditing Standard No. 7.
    Engagement Quality Review.

    Auditing Standard No. 8.
    Audit Risk.

    Auditing Standard No. 9.
    Audit Planning.

    Auditing Standard No. 10.
    Supervision of the Audit Engagement.

    Auditing Standard No. 11.
    Consideration of Materiality in Planning and Performing an Audit.

    Auditing Standard No. 12.
    Identifying and Assessing Risks of Material Misstatement.

    Auditing Standard No. 13.
    Responding to the Risks of Material Misstatement.

    Auditing Standard No. 14.
    Evaluating Audit Results.

    Auditing Standard No. 15.
    Audit Evidence.

    Auditing Standard No. 16.
    Communications with Audit Committees.
    Matters Included in the Audit Engagement Letter.
    Significant Unusual Transactions.
    Difficult or Contentious Matters.
    Uncorrected and Corrected Misstatements.
    Disagreements with Management.
    Difficulties Encountered in Performing the Audit.

    PCAOB, Reorganization of Auditing Standards.
    General Auditing Standards.
    Audit Procedures.
    Auditor Reporting.
    Matters Relating to Filings Under Federal Securities Laws.
    Other Matters Associated with Audits.

    Part 3

    Scope of Sarbanes-Oxley.
    Is it relevant to Sarbanes Oxley?
    Software.
    Spreadsheets.
    Controls for the spreadsheets.
    SAS 70.
    Advantages of SAS 70 Type II.
    Disadvantages of SAS 70 Type II.
    SAS 70 has been replaced by new standards
    Problems.

    E-SOX - The 8th Company Law Directive of the European Union.
    Ahold, Parmalat.
    Article 45 - Registration and oversight of third-country auditors and audit entities.
    Article 46 - Derogation in the case of equivalence.

    J-SOX - The Financial Instruments and Exchange Law.
    J-SOX is an international project.

    Part 4

    The Frameworks.
    Committee of Sponsoring Organizations (COSO).
    1992, COSO Internal Control — Integrated Framework.
    The COSO cube.

    Control Environment.
    Risk Assessment.
    Control Activities.
    Information and Communication.
    Monitoring.

    Effectiveness and Efficiency of Operations.
    Reliability of Financial Reporting.
    Compliance with applicable laws and regulations.

    2013, COSO Internal Control — Integrated Framework.
    The updated COSO cube.
    Example: Cyber risk and COSO.

    2004 - The COSO Enterprise Risk Management (ERM) Framework.
    The differences between COSO and COSO ERM.
    Components of Enterprise Risk Management.
    The COSO ERM cube.

    Is COSO ERM needed for compliance?
    Internal Environment.
    Objective Setting.
    Event Identification.
    Risk Assessment.
    Risk Response.
    Control Activities.
    Information and Communication.
    Monitoring.

    Objectives: Strategic, Operations, Reporting, Compliance.
    ERM – Application Techniques
    2017 - The updated COSO ERM
    Enterprise Risk Management and Strategy Selection.

    Control Objectives for IT - COBIT.
    COBIT 5.

    Part 5

    The Dodd-Frank Act and the Sarbanes-Oxley Amendments.
    Understanding the Dodd-Frank Act.
    SOX is part of the new regulatory reform.
    Five key objectives.
    The PCAOB for the Dodd-Frank Act.
    Basel ii /iii and the Dodd-Frank Act.
    The Financial Stability Oversight Council.
    The Orderly Liquidation Authority.
    The new Federal Insurance Office.
    The Volcker Rule.
    The new whistleblower protection rules. The Sarbanes-Oxley amendment.
    Investor Protection and Securities Reform Act.
    Concluding Remarks.


    For secure payment we work with PayPal, the faster and safer way to make online payments. With PayPal we minimize the cost of administration and compliance with national and international laws, so we can keep the cost of our programs and services so low.

    Only PayPal receives your credit card number and your financial information. We receive your full name, your email, and your mail address. According to the PayPal rules, you have the option to ask for a full refund up to 60 days after the payment. If you do not want one of our programs or services for any reason, all you must do is to send us an email and we will refund the payment, no questions asked.

    When you click "Buy Now" below, you will be redirected to the PayPal web site. Your payment will be received by our strategic partner and service provider, Cyber Risk GmbH (Rebackerstrasse 7, 8810 Horgen, Switzerland, Handelsregister des Kantons Zürich, Firmennummer: CHE-244.099.341). Cyber Risk GmbH may also send certificates to all members.

    We will send the program up to 24 hours after the payment.

    The all-inclusive cost is $147. There is no additional cost, now or in the future, for this program.

     

    What is included in this price:

    A. The official presentations we use in our instructor-led classes (1,022 slides)

    B. Up to 3 Online Exams

    There is only one exam you need to pass, in order to become a Certified Sarbanes-Oxley Expert (CSOE). If you fail, you must study the official presentations, but you do not need to spend money to try again. Up to 3 exams are included in the price. To learn more you may visit:

    www.sarbanes-oxley-association.com/Questions_About_The_Certification_And_The_Exams_1.pdf

    www.sarbanes-oxley-association.com/CSOE_Certification_Steps_1.pdf

    C. Your certificate

    Processing and posting to your office or home (via registered mail).


    Frequently Asked Questions

    1. How comprehensive are the presentations? Are they just bullet points?

    Answer: The presentations are not bullet points, you can read them, understand, and learn. These are the official presentations we use in our instructor-led classes.

    2. Do I need to buy books to pass the exam?

    Answer: No. If you study the presentations, you can pass the exam. All the exam questions are clearly answered in the presentations.

    If you fail the first time, you must study more. Print the presentations and use Post-it to attach notes, like "COSO", "Operational Risk" etc., to know where to find the answer of a question.

    3. Is it an open book exam? Why?

    Answer: Yes, it is an open book exam. Risk and compliance management is not something you have to memorize, it is something you must understand and learn.

    4. Do I have to sit for the exam soon after receiving the presentations?

    Answer: No. You can sit for the exam from your office or home, any time in the future. Your account never expires and there is no restriction of any kind.

    5. Do I have to spend more money in the future to remain certified?

    Answer: No. Your certificate never expires. It will be valid, without the need to spend money or to sit for another exam in the future.

    6. Ok, the certificate never expires, but things change.

    Answer: Recertification would be a great recurring revenue stream for the association, but it would also be a recurring expense for our members. We resisted the temptation to "introduce multiple recurring revenue streams to keep business flowing", as we were consulted. No recertification is needed for our programs.

    Things change, and this is the reason you need to become (at no cost) a member of the association. You will receive our monthly newsletter with updates, alerts and opportunities to stay current.

    7. How many hours do I need to study to pass the exam?

    Answer: It depends on your knowledge and experience. You must study the presentations at least twice, to ensure you have learned the details. The average time needed is about 28 hours, but there are important differences.

    8. I want to learn more about the online exam.

    Answer: You will be given 90 minutes to complete a 35-question multiple-choice exam. You must score 70% or higher.

    We do not send sample questions. If you study the presentations carefully, you can score 100%.

    9. Why should I get certified?

    Answer: After the failures of so many organizations during the recent crisis, firms and organizations hire "fit and proper" professionals who can provide evidence that they are qualified.

    Companies and organizations need assurance that employees have the knowledge and skills needed to mitigate risks, and to accept more responsibility. Supervisors and auditors ask for independent evidence that the process owners are qualified, and that the controls can operate as designed, because the persons responsible for these controls have the necessary knowledge and experience.

    The marketplace is clearly demanding qualified professionals in risk and compliance management. Certified professionals enjoy industry recognition and have more and better job opportunities.

    It is important to get certified and to belong to professional associations. You prove that you are somebody who cares, learns, and belongs to a global community of professionals.

    10. Why should I choose your certification program?

    Answer: It is always good to investigate first. You should search for other programs, using any search engine.

    We strongly believe that we offer the best value for money compared to all other Sarbanes-Oxley training and certification programs:

    1. The Sarbanes Oxley Compliance Professionals Association (SOXCPA) is the largest association of Sarbanes Oxley professionals in the world.

    2. The all-inclusive cost of the program ($147) is very low. There is no additional cost for this program, now or in the future, for any reason.

    3. There are 3 exams that are included in the cost of the program, so you do not have to spend money again if you fail.

    4. No recertification is required. Your certificate never expires.

    5. You become a member of the association, you get certified, and you receive monthly updates, news and alerts. If you search the web, you will not find the value for money offered by the SOXCPA.


    Become a Certified Sarbanes-Oxley Expert (CSOE)

    For secure payment we work with PayPal, the faster and safer way to make online payments. With PayPal we minimize the cost of administration and compliance with national and international laws, so we can keep the cost of our programs and services so low.

    Only PayPal receives your credit card number and your financial information. We receive your full name, your email, and your mail address. According to the PayPal rules, you have the option to ask for a full refund up to 60 days after the payment. If you do not want one of our programs or services for any reason, all you must do is to send us an email and we will refund the payment, no questions asked.

    When you click "Buy Now" below, you will be redirected to the PayPal web site. Your payment will be received by our strategic partner and service provider, Cyber Risk GmbH (Rebackerstrasse 7, 8810 Horgen, Switzerland, Handelsregister des Kantons Zürich, Firmennummer: CHE-244.099.341). Cyber Risk GmbH may also send certificates to all members.

    The all-inclusive cost is $147

     

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