10 Threats to SOX Compliance for Smaller Public Companies

Instructor: Bob Benoit
Product ID: 700591
  • Duration: 60 Min

recorded version

1x Person - Unlimited viewing for 6 Months
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Recorded Link and Ref. material will be available in My CO Section
Last Recorded Date: Oct-2007

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Read Frequently Asked Questions

This SOX Compliance webinar identifies potential concerns and develops action plans to remediate risks. These findings are invaluable starting point for a macro-level risk assessment for smaller public companies that not yet filed under Section 404.

Why Should You Attend:

Many companies are reluctant to become members of the Customs and Border Protection’s C-TPAT program due to the process involved. Becoming a Certified member of C-TPAT is the first step and we will take you through the entry process The purpose of this course is to help smaller public companies with their first year SOX Section 404 effort, which is due this year. Using the concept of working backwards, the 10 Threats to SOX Compliance course starts with the end in mind - a clean Sarbanes-Oxley Section 404 report for year one filers.

This course is particularly timely given the SECs recent decision to not grant extensions to smaller public companies. The course identifies potential concerns and develops action plans to remediate risks. These findings are an invaluable starting point for a macro-level risk assessment for smaller public companies that have not yet filed under Section 404. Taking quick action can minimize the likelihood of an adverse Section 404 report at the end of the first year of compliance. Lecturer Bob Benoit will review the results of his study of 148 SOX compliant companies with revenues under $100 million. Cumulatively, these represent the major threats smaller public companies are likely to face in their first year of compliance.

Areas Covered in the seminar:

  • What is the current condition of the regulatory environment?
  • What are the components of a Sarbanes-Oxley Section 404 management assessment?
  • A detailed review of the first 5 threats: COMPANY LEVEL CONTROLS
    • Accounting and disclosure controls
    • Treasury
    • Competency and training of accounting personnel
    • Control environment
    • Design of controls or lack of effective compensating controls
  • The next layer of COMPANY LEVEL CONTROLS: Revenue recognition
    • Financial closing process
    • Inadequate account reconciliation
  • The impact of
    • Information Technology on Sarbanes-Oxley Section 404 compliance
  • What are the components of a SOX IT assessment?
  • SOX 404 - Beyond internal controls into financial reporting:
    • Consolidations, mergers, and intercompany accounts
  • Using technology and shared document depositories for effective remediation plans and follow through

Who Will Benefit:

  • SOX analysts
  • SOX consultants
  • Internal auditors
  • External auditors
  • CPAs
  • CFOs
  • Controllers
  • VP Finance
  • CIOs
  • Chief Compliance Officers
  • Programmers and Analysts
  • IT staff
  • IT consultants

Instructor Profile:

Bob Benoit,, is the president of Lord & Benoit, LLC, a firm focusing on SOX compliance for small to mid-sized public companies. In addition to his position with Lord & Benoit, Bob serves on the COSO Monitoring Project Task Force and the AICPA Peer Review Acceptance Board in MA. He is the author of the Lord & Benoit Reports, which have been referenced by the SEC, PCAOB, Wall Street Journal, Business Week, all Big 4 firms and over 100 newspapers, magazines, legal, educational and trade journals. Bob is also the first evaluator to use the 2006 COSO Guidance for Smaller Public Companies, and the inventor of several affordable SOX frameworks which can be downloaded from the SEC and PCAOB websites or at

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Refund Policy

Registrants may cancel up to two working days prior to the course start date and will receive a letter of credit to be used towards a future course up to one year from date of issuance. ComplianceOnline would process/provide refund if the Live Webinar has been cancelled. The attendee could choose between the recorded version of the webinar or refund for any cancelled webinar. Refunds will not be given to participants who do not show up for the webinar. On-Demand Recordings can be requested in exchange.

Webinar may be cancelled due to lack of enrolment or unavoidable factors. Registrants will be notified 24hours in advance if a cancellation occurs. Substitutions can happen any time.

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