Beyond SOX: Internal Control Best Practices for Accounts Payable

Beyond SOX: Internal Control Best Practices for Accounts Payable Date: Tuesday April 4th, 2017, Time: 01:00 PM EDT | 10:00 AM PDT Duration: 60 Minutes

Speaker: Chris Doxey

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Overview This webinar will help you to gain an understanding of current best practices for SOX, how you can embed the requirements of SOX into your accounts payable controls process and how to make your internal controls process much more efficient.

Why should you attend?  The instructor will use practical examples of internal controls for the accounts payable process based on several years of experience as a SOX and internal controls expert  We’ll focus on accounts payable best practices that have worked at top global companies Areas covered in the webinar The legislation came into force in 2002 and introduced major changes to the regulation of financial practice and corporate governance. Named after Senator Paul Sarbanes and Representative Michael Oxley, who were its main architects, it also set a number of deadlines for compliance.

Section 404 requires annual report by management on the design and effectiveness of internal controls for accounts payable over financial reporting, and an attestation by the company’s auditors as to the accuracy of management’s assessment.  Evaluate and test internal controls over financial reporting using COSO to opine on effectiveness (broad and deep)  Assessment must be based on procedures sufficient to evaluate design and test operating effectiveness. Inquiry alone will not provide adequate basis for assessment

 Significant support is required from operations and controller organizations as up to 70% of key controls can be outside of financial reporting Learning objective  Learn how to apply SOX 404 requirements to your accounts payable process  Learn about the top 20 accounts payable controls  Learn some best practices for streamlining your internal controls process Who will benefit     

CFOs Controllers CAEs Senior Accounting and Finance Managers Accounts Payable Directors and Managers

Speaker profile Chris Doxey spent most of her career implementing “top gun” leadership teams and processes in her quest to fight fraud and implement internal controls at Digital Equipment Corporation, Compaq Computer Corporation, and Hewlett Packard.

She held senior finance and accounting positions which allowed her to develop and implement standards of internal control for all aspects of financial operations – focusing on the procure to pay (P2P) process. She was recruited to assist WorldCom (MCI) with the implementation of internal controls, policies, and corporate governance in 2003.

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