| The Sarbanes Oxley Act is incredibly complex and | | | | implement Sarbanes Oxley. |
| affects several different parts of your corporation in | | | | What you should do long-term for Sarbanes Oxley. |
| different ways. In order to comply properly with it, | | | | What you should do prior to signing off on financial |
| you will probably need specific targeted training for | | | | reports. |
| what your CEO and CFO need to know about the | | | | Your IT department will need some serious training |
| Sarbanes Oxley training; what your IT department | | | | on SOX 404, the part about your internal controls |
| will need to do; what your Board of Directors should | | | | over financial reporting. IT departments have proven |
| be reviewing; and how to oversee Sarbanes Oxley | | | | to be critical to providing these controls, and they will |
| training in its entirety in your business. | | | | need to understand what controls they should |
| That's a lot of Sarbanes Oxley training. Small and | | | | provide, what they need to change about their |
| large corporations both should be concerned about | | | | current IT practices, and what new software they |
| getting training targeted to addressing Sarbanes | | | | may need to implement. |
| Oxley. With smaller companies, generalized Sarbanes | | | | Your accounting department will probably need |
| Oxley training for everyone along with perhaps a | | | | Sarbanes Oxley training in a variety of different |
| specialized class or two for the IT department on | | | | areas, including SOX 404 and intensive instruction on |
| SOX 404, and a class for the accounting department | | | | what kind of auditing procedures they need to |
| on how auditing and accounting procedures are | | | | implement. In addition, you should consider having a |
| affected. For larger corporations, more specialized | | | | full review of your accounting and auditing practices |
| classes may be necessary. | | | | by a professional trained in Sarbanes Oxley |
| Suggested classes for Sarbanes Oxley training | | | | requirements who can examine your entire financial |
| All affected personnel in the executive, accounting, | | | | management procedures and determine what |
| and IT departments, as well as key middle | | | | Sarbanes Oxley training your company will need in |
| management, should get overview training on the | | | | order to comply with these new laws. |
| Sarbanes Oxley Act. You might consider having this | | | | After Sarbanes Oxley Training |
| sort of class before starting specialized Sarbanes | | | | As you have gathered by now, the Sarbanes Oxley |
| Oxley training, and following up at the end of all | | | | Act is a very complex piece of legislation that will |
| classes with a debriefing meeting for the same | | | | have a real impact on the way you do business for |
| personnel, so that special concerns can be brought up | | | | many years yet to come. After your initial |
| and addressed at the same time for everyone. | | | | implementation of [Sarbanes Oxley training], you |
| A course on understanding section 302 of the | | | | should have someone in your organization taxed with |
| Sarbanes Oxley Act is a must for executive | | | | keeping up with new developments, and at least |
| management. A good course on this section will | | | | consider followup training every year. The full effects |
| teach you the following: | | | | of the Sarbanes Oxley Act are impossible to predict, |
| What you're really certifying. | | | | but if you get the best Sarbanes Oxley training |
| What disclosure controls and procedures are, and | | | | available right now, it should have a minimal impact on |
| how they differ from internal controls. | | | | your business. |
| What steps you should take immediately to | | | | |