Sarbanes-Oxley Act and Corporate Governance (5.5 hrs)

Course Description

SOX Act and Corporate Governance – 5.5 hrs. CPE

The past years have witnessed a number of high-profile corporate scandals: Enron, Tyco International, Healthsouth, Global Crossing, and WorldCom.  While these are the most glaring, there are many more companies whose shareholders and employees have suffered as stock prices fell, such as Nokia, Lucent Technologies, and many internet-related businesses. The course examines developments in finance and accounting and a series of corporate accounting scandals on the heels of the Enron debacle that have led to current sweeping accounting guidelines, proposals, and legislation—most notably, the Sarbanes-Oxley (SOX) Act. Many of the issues surrounding the SOX Act—especially Section 402, Internal Control over Financial Reporting and Sections 302 and 906, Management Certifications —are discussed. The general issues on corporate governance and corporate social responsibility (CSR), including stock option expensing, are also covered. The illegal practice of stock option backdating is described as well.

Course information

Price: $75
Course No. 7060
Format: Online pdf (114 pages).
Prerequisites: None
Advance Preparation:None
Level: Overview
CPE Credit: 5.5 Hrs.
Field of Study: Accounting
Course expiration:  You have one year from date of purchase to complete the course.
Course Revision Date: July 2016


After completing this course, participants should be able to:

1. Recognize the sources of accounting irregularities, including the Enron scandal and Special Purpose Entities (SPEs).
2. Identify the controversy with expensing stock options and specific issues addressed by ASC 718 (FASB No. 123R.)
3. Recognize different rules and regulations put out by the FASB, NYSE, and the SEC.
4. Identify key elements of corporate governance and which software and technologies can be helpful in implementing the SOX Act.
5. Identify attributes of good governance, social responsibility and other ethical standards.
6. Recognize the major features of the Sarbanes-Oxley (SOX) Act of 2002 Corporate Responsibility Law.

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