Webcast - SOX 404 Conference 2012: Internal Controls & the Expanding Role of Today's SOX Professional

MAY 17, 2012

Welcome & Opening Remarks
8:45 – 9:00 AM

Presentation by CAQ (The Center for Audit Quality): Sarbanes-Oxley—10 Years Later
9:00 – 9:45 AM
This session will assess changes effected by SOX in the areas of internal control and risk management on:
• Company management
• Audit committees
• External auditors
• Investors
• The 404 experience: cost vs. benefits
• Looking forward (will 404 survive?) If not, what are the consequences?

SOX Optimization: Best Practices & Managing Financial Reporting Risks with Tighter Budgets Roundtable—Part 1
9:45 – 10:45 AM
This session will cover an array of best practices for maximizing efficiency and reducing costs in your SOX process. Panelists from accelerated and non-accelerated filers will share their experiences.
• Infrastructure: steering committee, staffing and tone at the top
• Supporting processes, self assessments and subcertifications
• Best practices and lessons learned from peers in industry
• Outsourcing SOX testing: benefits and risks

Break
10:45 – 11:00 AM

SOX Optimization: Best Practices & Managing Financial Reporting Risks with Tighter Budgets Roundtable—Part II
11:00 AM – 12:15 PM
This session will continue the panel’s discussion of best practices for maximizing efficiency and reducing costs in your SOX process. Panelists from accelerated and non-accelerated filers will share their experiences.
• Consolidation of processes
• Leveraging continuous control monitoring tools to increase productivity
• Adoption of sophisticated testing strategies: advantages and disadvantages
• Impact and use of SSAE 16 for third party vendors (effective June 15, 2011)

Luncheon
12:15 – 1:00 PM

Highlights of Results of Big 4 Accounting Firms' Annual Audit Surveys
1:00 – 2:15 PM
This session will cover the highlights and trends for internal audit groups as surveyed by the big accounting firms.
• Big 4 view of critical areas companies need to address
• The changing risk environment and how top internal auditors are responding
• Evolving role of Internal Audit and ERM

Foreign Corrupt Practices Act Compliance Panel Discussion
2:15 – 3:15 PM
This session will highlight the increase in scrutiny with regard to FCPA compliance and what internal control specialists should be aware of.
• Enhanced cooperation among SEC, DoJ and foreign regulators
• How prepared is your organization to withstand the scrutiny of a regulatory investigation?

Break
3:15 – 3:30 PM

Enterprise Risk Management: Panelist Roundtable
3:30 – 5:30 PM
This session will cover best practices and emerging trends associated with creating and managing an effective Enterprise Risk Management (ERM) program. Panelists in different stages of ERM implementation will share their experiences and secrets to getting positive traction in ERM.
• ERM program lifecycle
• Organization and structure
• Managing the risk culture
• Predictive risk analytics
• Uncovering and reducing technology risk within the organization
• Linkage to other risk programs and functions (SOX, internal audit and compliance)

Cocktail Reception
5:30 – 6:30 PM

MAY 18, 2012

Opening Remarks
8:30 – 8:45 AM

Regulatory Update from the PCAOB
8:45 – 10:00 AM
The PCAOB’s regulatory activities have accelerated after the resolution of the constitutional challenge and the appointment of a new chairman and board members. This session will provide an update on the PCAOB’s auditing standards, inspections, and enforcement activities.
• Re-proposal on communications with audit committees
• Auditor independence: audit firm rotation
• Revising the auditor’s reporting model
• Improving transparency through disclosure of the engagement partner and other audit participants
• Understanding the root causes of audit deficiencies to improve audit quality
• Impact of inspections on companies

Break
10:00 – 10:15 AM

Managing Risk: Technology, Data Breach & Cybersecurity
10:15 AM – 12:00 PM
Information Security events are common day headlines. The size and scale of the breaches have caught the attention of regulators and investors. This session will cover information security threats you should be aware of in your role for financial reporting in addition to leveraging your information security teams for financial reporting compliance.
• How to comply with the SEC’s next cybersecurity disclosure guidance regarding risks and cyber
  incidents
• Leveraging technology to manage risk and compliance
• Analyzing data to identify core issues
• Protecting your organization from internal and external cyber threats
• Key risks and controls associated with cloud computing

Luncheon
12:00 – 12:45 PM

COSO Update to Internal Control—Integrated Framework
12:45 – 1:45 PM
In December 2011, the Committee of Sponsoring Organizations of the Treadway Commission (COSO) issued an exposure draft of an update to its Internal Control—Integrated Framework. The original Framework, issued in 1992, is widely used by organizations, particularly for assessing and reporting on the effectiveness of internal control over financial reporting. This session will provide an overview of the proposed revision and observations based on comments submitted in the exposure process.
• Background on what led to this update project
• Objectives of the Framework update project
• Significant changes from the 1992 Framework
• Potential effects on internal control implementation and assessment of effectiveness
• Significant comments submitted by respondents
• Expected timeline and transition

Governance of Social Media & E-Mobility Risks
1:45 – 3:15 PM
Social media and mobile applications are the modern day gold rush for companies. The velocity of information and products are creating new risks and financial reporting challenges. This session will cover the emerging risks and considerations for internal control specialists.
• Identify and document current and intended social media use
• Perform a risk assessment for the use of social media and mobile devices
• Implement security policies that address the use of social media and mobile devices
• Provide social media training
• Monitor social media channels

Break
3:15 – 3:30 PM

Managing Internal Controls Fatigue
3:30 – 5:00 PM
Successful internal control experts share their thoughts and strategies on being effective and having credibility in their organizations sustaining the ever increasing amount of internal control directives.
• Overcoming culture: strategies for success and lessons learned
• Remediation management
• Tone at top: earning and maintaining the support
• Five books you must read
• Rotations and other organizational strategies

Conference Ends
5:00 PM