Course info

For many companies, Accounts Receivable (A/R) is the largest or second largest asset on the balance sheet. This means that any weakness in the financial controls for A/R could have a serious impact on the company’s financial statements. Since Accounts Receivable departments interact with almost every other department in the company, weak controls in A/R can lead to increased risk in other areas.

The Sarbanes-Oxley Act of 2002 makes company executives of publicly traded US companies personally and criminally responsible for the accuracy and reliability of the financial disclosures of their companies. They are required to sign reports that attest to the effectiveness of their companies’ internal controls, including foreign subsidiaries.

Many of these executives are "pushing down" the signoff of reports that attest to the effectiveness of their companies’ internal controls, including foreign subsidiaries. Accounting and Receivables professionals need to understand their responsibilities under the Act before they sign off on the effectiveness of the financial controls in their department, division, or company.

This presentation looks at specific issues affecting Accounting and A/R, including Credit Risk Management, the adequacy of Provisions for Uncollectible Accounts, Debt Collection Procedures, which may include a dependence on processes outside the A/R department and even outside the company.

This session provides you with the tools you need to establish and maintain strong internal controls in the A/R department that meet Sarbanes-Oxley standards and reduce risk and protect company assets.

There will be opportunities for online discussion and questions.

Course Key Concepts: Sarbanes-Oxley, SOX, Internal controls, Financial controls, Accounts Receivable, Credit Collection.