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SOX Compliance: Accounts Receivable Risks and Controls

Overview

The accounts receivable process includes the sub-cycles of acquiring and accepting customer orders; writing sales contracts; granting customer credit; shipping or otherwise delivering products or services; billing and recording sales and lease transactions; maintaining and monitoring accounts receivable; instituting effective collection procedures; recording and controlling cash receipts; establishing pricing and promotional activities; and properly valuing receivable balances.
In management's selection of procedures and techniques of control, the degree of control implemented is a matter of reasonable business judgment. The common guideline used in determining the degree of internal controls implementation is that the cost of a control should not exceed the benefit derived.
The Order to Cash Process (O2C) Process is comprised of several sub-processes that must have a foundation of internal controls for SOX 404 certification process. This webinar will explore those sub-processes and will highlight the risk risks and controls that are required for SOX 404.
Why should you attend this webinar?
  • Learn how other processes impact the AR process.
  • Learn about the Internal Control Standards for the AR and Order to Cash (O2C) Process
  • Learn about the process risks and how key controls can mitigate these risks.
  • Learn how to improve your SOX 404 process.
Areas Covered in the Session:
  • Brief Overview of SOX 404
  • What Auditors Look For
  • Process Flow of the Order to Cash (O2C) Process
  • The Sub-Processes Within the ORC Process
  • Internal Control Standards
    • Risks
    • Key Controls
  • Q&A
Who can Benefit:
  • CFO
  • Controller
  • Accounts Receivable Management
  • Corporate Credit Manager
  • Customer Contract Management
  • Corporate Counsel (Legal Department)
  • Customer Master File Management
  • Customer Order Management
  • Customer Order Processors and Order Entry 
Visit:https://www.compliancekey.us/webinarDetails?industryId=3&webinarid=1209&speakerid=164

Compliance Key INC
717-208-8666

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