The Sarbanes Oxley Act and Payroll – How to Evaluate Internal Controls for Compliance with This Important Law

2023 Requirements, Controls, Recent Changes and More…

Instructor :
Mark Schwartz

Webinar ID:
11187

Date: 23 April 24, TUE

Start Time: 10 am PT

Duration: 75 Mins.

What you will learn

  • Origin and Summary of SOX: Section 302, 404, 802, PCAOB Recent Changes
  • SOX Compliance Specifics: Specific Payroll and HR Control Areas
  • How to Comply – Internal Controls, Regulatory Compliance Controls
  • The Basics of Internal Auditing and/or 3rd Party Reviews
  • Origin and Summary of SOX: Section 302, 404, 802, PCAOB Recent Changes
  • SOX Compliance Specifics: Specific Payroll and HR Control Areas
  • How to Comply – Internal Controls, Regulatory Compliance Controls
  • The Basics of Internal Auditing and/or 3rd Party Reviews
  • Use of Third-Party Administrators: SAS 70, SSAE 16 Requirements
  • Internal Assessments of Payroll Operations
  • A Primer in Cybersecurity & What do Hackers Do
  • How to Integrate Internal Controls into IT Security and More…

Course Description

The Sarbanes-Oxley Act is a federal law enacted on July 30, 2002, in reaction to the major corporate scandals that were going on at that time, such as that which involved the infamous Enron.

The bill includes responsibilities entrusted to the boards of directors for public corporations, along with the criminal penalties that can be enforced in response to certain kinds of misconduct.

The Act also demands that the Securities and Exchange Commission create regulations to guide corporations in compliance with the law.

The purpose of the Sarbanes-Oxley Act was to crack down on corporate fraud. For example, the Sarbanes-Oxley Act, in addition to creating the Public Company Accounting Oversight Board (PCAOB) (which does exactly what its name would suggest), also banned the Act of company loans being given to executives.

The Act also provides whistleblowers with job security so that those who witness something unlawful can report it without fearing they will be terminated as a result.

In this interactive webinar Mark Schwartz, an employment tax specialist and a payroll tax auditor with over 15 years experience, to learn how the act created strict new rules for accountants, auditors, and corporate officers and imposed more stringent record-keeping requirements, as well as, how to avoid new criminal penalties for violating securities laws.

Join Now!

The Sarbanes-Oxley Act is a federal law enacted on July 30, 2002, in reaction to the major corporate scandals that were going on at that time, such as that which involved the infamous Enron.

The bill includes responsibilities entrusted to the boards of directors for public corporations, along with the criminal penalties that can be enforced in response to certain kinds of misconduct.

The Act also demands that the Securities and Exchange Commission create regulations to guide corporations in compliance with the law.

The purpose of the Sarbanes-Oxley Act was to crack down on corporate fraud. For example, the Sarbanes-Oxley Act, in addition to creating the Public Company Accounting Oversight Board (PCAOB) (which does exactly what its name would suggest), also banned the Act of company loans being given to executives.

The Act also provides whistleblowers with job security so that those who witness something unlawful can report it without fearing they will be terminated as a result.

In this interactive webinar Mark Schwartz, an employment tax specialist and a payroll tax auditor with over 15 years experience, to learn how the act created strict new rules for accountants, auditors, and corporate officers and imposed more stringent record-keeping requirements, as well as, how to avoid new criminal penalties for violating securities laws.

Join Now!

Why you should attend

Although SOX applies to almost every aspect of corporate business, there are unique aspects of payroll and hr that, if mismanaged, can and do result in significant violations of the Act.

This webinar will focus on those aspects of the SOX act. Topics include:

  • The sections of SOX that apply to all companies,
  • Areas of payroll and HR that need special attention
  • The internal controls necessary to ensure not only compliance with the Act but are meant to enhance your company’s efficiency and profitability.

KNOW HOW TO BE SURE YOUR REPORTING ACCURATELY REFLECTS PAYROLL AND HR-RELATED EXPENSES.

Further, the PCAOB has announced its focus in SOX audits will be cyber security. Several recent data breaches have resulted in significant disruptions to corporate operations.

Obviously, the fear instilled in the public as a result of these breaches cannot be underestimated.

In this interactive webinar:

  • You’ll learn how to evaluate your IT systems for security.
  • You will also be given advice from the SEC and other agencies to launch this investigation for your company’s sake.

Enroll Now!

Although SOX applies to almost every aspect of corporate business, there are unique aspects of payroll and hr that, if mismanaged, can and do result in significant violations of the Act.

This webinar will focus on those aspects of the SOX act. Topics include:

  • The sections of SOX that apply to all companies,
  • Areas of payroll and HR that need special attention
  • The internal controls necessary to ensure not only compliance with the Act but are meant to enhance your company’s efficiency and profitability.

KNOW HOW TO BE SURE YOUR REPORTING ACCURATELY REFLECTS PAYROLL AND HR-RELATED EXPENSES.

Further, the PCAOB has announced its focus in SOX audits will be cyber security. Several recent data breaches have resulted in significant disruptions to corporate operations.

Obviously, the fear instilled in the public as a result of these breaches cannot be underestimated.

In this interactive webinar:

  • You’ll learn how to evaluate your IT systems for security.
  • You will also be given advice from the SEC and other agencies to launch this investigation for your company’s sake.

Enroll Now!

Areas Covered

Origin and Summary of SOX

  • Corporate scandals that led to passage of the Act
  • Section 302 which establishes reporting requirements
  • Section 404 establishing 3rd party requirements and Internal controls
  • Section 802 establishing penalties for non-compliance
  • PCAOB recent changes and focus

SOX Compliance Specifics

  • Executive and BOD requirements
  • What are internal controls required for compliance?
  • Specific payroll and HR control areas

How to Comply – Internal Controls

  • The basics of internal auditing and/or 3rd party reviews
  • Separation of duties
  • Payroll authorization and reconciliation controls
  • Regulatory compliance controls
  • HR related internal control examples
  • Policies vs procedures

Use of Third-Party Administrators

  • SAS 70 requirements
  • SSAE 16 requirements

Internal Assessments of Payroll Operations

  • Acknowledged payroll.
  • Fringe benefits and other payments to employees
  • Accounts payable expenses to workers
  • Payroll related internal assessments.
  • A primer in cybersecurity
  • What do hackers do?
  • The devastating costs and other risks of cyber hacks
  • How to integrate internal controls into IT security

Best Practices

Origin and Summary of SOX

  • Corporate scandals that led to passage of the Act
  • Section 302 which establishes reporting requirements
  • Section 404 establishing 3rd party requirements and Internal controls
  • Section 802 establishing penalties for non-compliance
  • PCAOB recent changes and focus

SOX Compliance Specifics

  • Executive and BOD requirements
  • What are internal controls required for compliance?
  • Specific payroll and HR control areas

How to Comply – Internal Controls

  • The basics of internal auditing and/or 3rd party reviews
  • Separation of duties
  • Payroll authorization and reconciliation controls
  • Regulatory compliance controls
  • HR related internal control examples
  • Policies vs procedures

Use of Third-Party Administrators

  • SAS 70 requirements
  • SSAE 16 requirements

Internal Assessments of Payroll Operations

  • Acknowledged payroll.
  • Fringe benefits and other payments to employees
  • Accounts payable expenses to workers
  • Payroll related internal assessments.
  • A primer in cybersecurity
  • What do hackers do?
  • The devastating costs and other risks of cyber hacks
  • How to integrate internal controls into IT security

Best Practices

Who is this course for

  • Benefit Managers
  • HR Personnel
  • Payroll Managers
  • IT Managers
  • Corporate Executives
  • Board of Director Members
  • Internal Audit Staff
  • Benefit Managers
  • HR Personnel
  • Payroll Managers
  • IT Managers
  • Corporate Executives
  • Board of Director Members
  • Internal Audit Staff

Instructor Profile

Mark Schwartz is an employment tax specialist and has over 15 years of employment tax experience as an independent consultant and as a payroll tax auditor with the State of California. He has managed an audit caseload of...

Mark Schwartz is an employment tax specialist and has over 15 years of employment tax experience as an independent consultant and as a payroll tax auditor with the State of California. He has managed an audit caseload of 20 ongoing audits, from small home-based businesses to large multi-national corporations. He is expert at defining regulatory and statutory requirements from local, State and Federal government agencies; and helping the average businessperson understand what that means to their business. He has processed weekly and bi-weekly payroll checks plus tax forms for businesses with hourly as well as exempt workers, multistate operations and a wide variety of benefits.

Mr.Schwartz provides consulting services encompassing payroll processing and payroll tax issues. These include payroll tax minimization, payroll tax compliance reviews, independent contractor studies, use of electronic transfers, deductions, benefits, etc. Mark has represented both clients and the State in front of the State Appeals Board. He understands the complexities of local wage laws, unemployment and disability claims, and other wage and benefit issues affecting your employees.

Mark prides himself on his outstanding customer service skills. He listens attentively to his clientele, helping them bridge the gap between the small business world and Government bureaucracy. He eagerly assists with clients needs and feels that educating clients toward faster, accurate and more complete payroll processes provide the most value.

Mark is a participating member of the American Payroll Association. He earned his BA and MBA in Finance at Santa Clara University. He has held Certified Internal Auditor and Certified Investment and Derivatives Auditor Credentials. Mark is currently pursuing a Certified Payroll Fundamentals Credential with the American Payroll Association.

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