Critical Components of Segregation of Duties for Corporate Processes and Information Technology
www.onlinecompliancepanel.com | 510-857-5896 | customersupport@onlinecompliancepanel.com
Instructor Profile:
Ms. Fountain has over 30 years of experience in business profession including, public and industry accounting, leadership, compliance, governance and internal/external audit. Her career has included serving in the capacity of Chief Audit Executive for two international companies. In addition, she has successfully executed her own consulting practice for over six years. Her initiatives in Internal Audit and Enterprise Risk Management have been highlighted in various professional publications. Ms. Fountain is a subject matter expert in areas of internal audit, risk management, governance, fraud and compliance. Ms. Fountain is a highly recruited international trainer and speaker for multiple conference groups and the Institute of Internal Auditors. She currently hosts two e-workshop series for the IIA on fraud and ethics. In addition, she is currently contracted to complete a publication for the IIA Research foundation on Fraud.
www.onlinecompliancepanel.com | 510-857-5896 | customersupport@onlinecompliancepanel.com
Description: A fundamental element of internal control is the segregation of certain key duties (SOD). The underlying idea is that no employee or group of employees should be in a position both to perpetrate and to conceal errors or fraud in the normal course of their duties. The principal duties typically outlined as incompatible and should be segregated are:
•
Custody of assets.
•
Authorization or approval of related transactions affecting those assets.
•
Recording or reporting of related transactions.
•
Traditional internal control relies on assigning certain responsibilities to different individuals or segregating incompatible functions. This is to prevent one person from having both access to assets and responsibility for maintaining the accountability of those assets.
www.onlinecompliancepanel.com | 510-857-5896 | customersupport@onlinecompliancepanel.com
Why Should you Attend: Organizations need to focus on the true purpose of SOD - proper internal control and mitigation of possibilities of occupational fraud. SOD can be simplified by staying focused on this purpose and leveraging a practical risk assessment while considering cost vs. benefit factors. Smaller companies often have significant difficulty with SOD assignments because of their limited resources. As such, reliance must often be placed on monitoring process.
www.onlinecompliancepanel.com | 510-857-5896 | customersupport@onlinecompliancepanel.com
Objectives of the Presentation: •
Understanding basic SOD principles and the critical components
•
Critical SOD for specific processes and IT areas
•
Evaluating the "right fit" of SOD for your organization
•
Utilizing a fraud risk assessment approach to evaluate SOD needs
•
SOD responsibilities critical in information technology
•
The utilization of monitoring and other techniques when SOD cost exceeds benefit.
www.onlinecompliancepanel.com | 510-857-5896 | customersupport@onlinecompliancepanel.com
Who can Benefit: •
CEO/CFO
•
Board Members
•
Internal Auditors
•
Compliance Professionals
•
Operational professionals
•
Finance Professionals
www.onlinecompliancepanel.com | 510-857-5896 | customersupport@onlinecompliancepanel.com
Live Session - How it works •
Username and Password will be sent to you 24 hours prior to the webinar
•
Presentation handouts in pdf formate will be mailed to you
• • •
•
Login to the session using the username and password provided to you Get answer to your queries through interactive Q&A sessions via chat Please let us know your thoughts and views at the end of webinar, your valuable feedback will help us improve
Recorded Session - How it works •
A link will be provided to you upon purchase of the recorded session
•
Please click on the link to access the session
•
Presentation handouts in pdf formate will be mailed to you
•
Get certification of attendance.
Get certification of attendance.
www.onlinecompliancepanel.com | 510-857-5896 | customersupport@onlinecompliancepanel.com
Get Connected :
www.onlinecompliancepanel.com
www.onlinecompliancepanel.com | 510-857-5896 | customersupport@onlinecompliancepanel.com