Overview:
While SOX has clearly had a positive impact on financial reporting, financial professionals must remain diligent in keeping up with changes to regulations and compliance requirements. This program will provide an overview of specific ICFR areas that remain on the combined radar of both the SEC and the PCAOB. We will also focus on:
- PCAOB Inspection Trends
- Material Weakness Trends
- SEC Proposed Cybersecurity Disclosures
- SEC Proposed Climate Disclosure Rules
Objective:
To provide financial professionals with updates on the latest rules and regulations for Internal Controls over Financial Reporting (ICFR) that will impact their current and future SOX programs.
SPEAKERS:
Paige Woolery, Managing Director, Internal Audit & Enterprise Risk, KPMG LLP
Emphasis:
-
SEC and PCAOB Focus Areas
– Staff Audit Practice Alerts (SAPAs)
– COSO framework - Auditing Deficiencies
-
Common IT Audit Focus Areas
– Risk assessment
– Automated controls testing
– C&A of information in reports and IPE
– Developer access to production
– Change management
– Third party/SOC reports
– IT and disclosure controls -
Material Weakness
– Background statistics
– Themes reported
– Process areas - Cybersecurity
- Proposed Climate Disclosure Rules