SOX 404 Virtual Conference: Modernizing Internal Controls to Unlock Hidden Value

DAY ONE AGENDA

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

Regulatory Trends: Recent Trends That Will Impact 2020 SOX Programs
9:00 – 10:15 AM
The SEC and PCAOB continue to focus on Internal Controls over Financial Reporting (ICFR). This session will provide an overview of the specific ICFR areas that continue to be on the SEC’s and PCAOB’s radar.

Break
10:15 – 10:25 AM

Impact of COVID-19 on Complying with SEC Requirements, Including ICFR Compliance
10:25 – 11:35 AM
The rapidly developing COVID-19 outbreak is translating into significant challenges for society, and impacting governments and businesses alike with unprecedented disruptions and risks. While companies continue to evaluate the impact on operations, it is also critical to assess the impact on financial accounting and reporting to comply with SEC requirements, including ICFR compliance. With workforces, suppliers, and customers experiencing operational disruptions for the foreseeable future, companies need to consider implications on processes, controls, and financial reporting. This session will focus on the way companies are adapting their SOX programs to remain compliant during this unprecedented time.

Break
11:35 – 11:45 AM

Audit Committee’s Role in Financial Reporting & Oversight
11:45 AM – 12:45 PM
In December 2019, the SEC published a ‘Statement on the Role of Audit Committees in Financial Reporting and Key Reminders Regarding Oversight Responsibilities’. The statement, by the Chairman, Chief Accountant and Director of the Division of Corporation Finance of the SEC, highlights observations and reminders in the areas of: Tone at the Top, Auditor Independence, Generally Accepted Accounting Principles (GAAP), ICFR, Communications to the Audit Committee from the Independent Auditor and more specifically, Non-GAAP Measures, Reference Rate Reform (LIBOR) and Critical Audit Matters. This statement is a reminder of the important role Audit Committees play in financial reporting and oversight.
This session will focus on the new guidance from the SEC and discuss how it will impact the interaction between Chief Audit Executives, Heads of Internal Audit / Internal Controls, and other financial professionals with Audit Committee Members.

Lunch
12:45 – 1:15 PM

Industry Panel Discussion: ICFR Lessons Learned & Leading Practices
1:15 – 2:30 PM
This roundtable discussion covers lessons learned and leading practices related to common challenges in the SOX program life cycle, including risk assessment, control selection and design, controls related to significant unusual transactions, Information Used in Controls (IUC) and the use of technology to modernize the SOX program.

Break
2:30 – 2:40 PM

Industry Panel Discussion: SOX Insights, Including Innovation in the SOX Program
2:40 – 4:40 PM
This roundtable panel discussion will be moderated by a Big 4 accounting leader, and feature industry practitioners, who will provide insights on today’s hottest risk management and SOX compliance topics. In this highly interactive session, we encourage attendees to share their real-world experiences, and gain insights into their biggest challenges from the nation’s leading SOX authorities.
 

DAY TWO AGENDA

Opening Remarks
8:30 – 8:45 AM

Robotics Process Automation—Internal Control Over Financial Reporting Considerations
8:45 – 10:00 AM
Companies are rapidly digitalizing parts of their business through Robotic Process Automation (RPA). Although RPA may reduce unintentional or intentional human errors, the implementation of robots presents new risks that businesses need to understand and address. During this session, we will discuss a key risk presented by the rapid adoption of robots—an organization’s failure to consider the effects of these operational changes on its Internal Control over Financial Reporting (ICFR), specifically those controls over IT and the potential impact on the value created by this automation arbitrage. The session will focus on the risks and benefits associated with RPA across the three lines of defense including the following:
• Considerations when automating processes and controls
• Considerations when automating control testing

Break
10:00 – 10:10 AM

Optimizing & Modernizing 302 Certification Process
10:10 – 10:55 AM
This session will explore methods to optimize and modernize the quarterly 302 certification process, with the objective of unlocking hidden value. Areas of discussion will include:
• Identifying who should certify and what they should certify to
• Implementing automation
• Utilizing 302 to drive accountability
• Leveraging 302 certification as a monitoring control in the annual SOX program

Break
10:55 – 11:05 AM

Digital Audit Readiness—Internal Control Over Financial Reporting Considerations
11:05 – 11:50 AM
This session will focus on how to leverage data sets that are typically needed for external audit requirements by the SOX group to assess risk and perform monitoring.

Lunch
11:50 AM – 12:20 PM

Robotics Process Automation & Data Driven Case Study
12:20 – 1:05 PM
Deeper dive with examples on using RPA to modify processes and controls and perform testing and using data to monitor control performance.

Break
1:05 – 1:15 PM

Remediating Material Weaknesses, Significant Deficiencies & Control Deficiencies—Practical Experiences
1:15 – 2:00 PM
Experts will provide practical advice on how to remediate Material Weaknesses, Significant Deficiencies and Control Deficiencies.

Break
2:00 – 2:10 PM

Performing Cyber Risk Assessments
2:10 – 3:10 PM
Organizations risk exposure is constantly changing due to changes in business, technology, regulatory requirements, and the cyber threat landscape. In this environment, it is important for organizations to obtain an understanding of their current risk and controls profile by conducting ongoing cybersecurity risk and controls assessments. This enables organizations to better understand risks for its highest criticality assets, establish an effective and sustainable risk and control assessment program, adhere to applicable regulations, and establish the foundation to drive a risk-aware culture.

Break
3:10 – 3:20 PM

SEC Enforcement & FCPA Compliance
3:20 – 4:35 PM
• Recent trends in SEC enforcement
• Scrutiny of Internal Controls over Financial Reporting (ICFR)
• Leading practices in FCPA compliance

Conference Ends
4:35 PM