The SOX Institute at The GRC Group (http://www.grcg.com/sox-class-dec-2008/) today announced that it will conduct a three-day training in Sarbanes-Oxley (SOX) Act Section 404 Internal Controls over Financial Reporting implementation on December 15-17, 2008, in the New York area.
New York (PRWEB) November 24, 2008 -- The SOX Institute at The GRC Group (http://www.grcg.com/sox-class-dec-2008/) today announced that it will conduct a three-day training in Sarbanes-Oxley (SOX) Act Section 404 Internal Controls over Financial Reporting implementation on December 15-17, 2008, in the New York area.
According to Sanjay Anand, Chairperson of The GRC Group, the global leader in governance, risk management, and compliance, the training will specifically address Section 404 control documentation, testing, and project management. "Section 404 is arguably the most vague section of the Act, and it is the most costly to implement," Anand said.
One of the strategies that companies use to bring down implementation costs is training. Indeed, a recent survey found that over 70% of those trained reported that The SOX Institute's Section 404 training reduced their companies' compliance costs by $10,000 or more, and 25% indicated that training reduced compliance costs by more than $100,000 per year. In addition, nearly 71% indicated that training reduced the number of hours that external auditors spent at companies.
This comes as no surprise to Anand, who said, "It makes sense that giving practitioners practical, hands-on experience in best practices provides a significant return on investment."
During the first day of training, attendees will learn about Section 404 controls documentation through examining case studies and completing real-world exercises designed to teach best practices for COSO/COBIT internal control documentation. On the second day, SOX Section 404 entity- and activity-level control testing will be covered, while the third day is dedicated to Section 404 project management. "Day three provides attendees with the 'big picture' of Section 404, which is critical to sustaining cost-effective compliance," said Anand. "This three-day program is well-suited to the needs of companies just embarking on their SOX 404 journey, as well as to those companies and professionals who are well on their way into years two, three, four, and five," he added.
In addition to receiving more than 1,000 pages of informative and actionable materials, Section 404 templates, and course notes, attendees will also receive a complimentary copy of The GRC Group's newly published SOXBoK (Sarbanes-Oxley Book of Knowledge) book, "The Sarbanes-Oxley Act: An Introduction," which covers all 11 titles and 66 sections of the SOX Act. The organization is also offering a holiday discount and early bird pricing. For details, visit www.grcg.com.
About The GRC Group
The GRC Group offers its members the most comprehensive knowledge repository and the only certifications available in governance, risk, and compliance. Through its SOX Institute and GRC Institute, The GRC Group empowers its members with the expertise necessary to meet their formidable professional responsibilities today and in the coming years. Memberships are available at www.grcg.com.
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[Via Legal / Law]
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