SOX Rules For Payroll

Webinar: ID# 1040184
Recorded On-Demand
About This Course:
The Sarbanes-Oxley Act is a federal law that was enacted on July 30, 2002 in reaction to the major corporate scandals that were going on at that time, such as that which involved the infamous Enron. Included in the bill are responsibilities entrusted to the boards of directors for public corporations, along with the criminal penalties that can be enforced in response to certain kinds of misconduct.

The Act also demands that the Securities and Exchange Commission create regulations to guide corporations in their compliance with the law.

The purpose of the Sarbanes-Oxley Act was to crack down on corporate fraud. For example, the Sarbanes-Oxley Act, in addition to creating the Public Company Accounting Oversight Board (PCAOB) (which does exactly what its name would suggest), also banned the act of company loans being given to executives.

The Act also provides whistleblowers with job security so that those who witness something unlawful can report it without fearing they will be terminated as a result.

Although SOX applies to almost every aspect of corporate business, there are unique aspects of payroll and HR that, if mismanaged, can and do result in major violations of the Act.

This webinar will focus on those aspects of the SOX act. Topics include the sections of SOX that apply to all companies, areas of payroll and HR that need special attention, and the internal controls necessary to ensure not only compliance with the act, but are meant to enhance your companies efficiency and profitability.


Further, the PCAOB has announced that their focus in SOX audits will be cyber security. Several recent data breaches have resulted in major disruptions to corporate operations. Obviously, the fear instilled in the public as a result of these breaches cannot be underestimated. Therefore you will learn how to evaluate your IT systems for security.

You will be given advice from the SEC and other agencies in order to launch this investigation for your company's sake.
What You'll Learn:In this webinar, we will cover the following:
  • Origin and Summary of SOX
    • Corporate scandals that led to passage of the Act.
    • Section 302 which establishes reporting requirements
    • Section 404 establishing 3rd party requirements and Internal controls
    • Section 802 establishing penalties for non-compliance.
    • PCAOB recent changes and focus

  • SOX Compliance Specifics
    • Executive and BOD requirements
    • What are internal controls required for compliance?
    • Specific payroll and HR control areas

  • How to Comply - Internal Controls
    • The basics of internal auditing and/or 3rd party reviews
    • Separation of duties
    • Payroll authorization and reconciliation controls
    • Regulatory compliance controls
    • HR related internal control examples.
    • Policies vs procedures
  • Use of Third Party Administrators
  • SAS 70 requirements

Continuing Education Credits:

Click the 'Credits' tab above for information on PHR/SPHR, PDCs, and other CE credits offered by taking this course.
SOX Rules For Payroll
Available 3:15 till 4:45pm EST or via On-Demand
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