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The Sarbanes Oxley Act and Payroll - How to Evaluate Internal Controls for Compliance with this Important Law

75 Minutes
6 months
Webinar Id:
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Recorded Version

$199. One Participant
$399. Group Attendees

Group Attendees: Any number of participants

Recorded Version: Unlimited viewing for 6 months ( Access information will be emailed 24 hours after the completion of live webinar)


The Sarbanes-Oxley Act is a federal law that was enacted on July 30, 2002, in reaction to the major corporate scandals that were going on at that time, such as that which involved the infamous Enron.

Included in the bill are responsibilities entrusted to the boards of directors for public corporations, along with the criminal penalties that can be enforced in response to certain kinds of misconduct. The Act also demands that the Securities and Exchange Commission created regulations to guide corporations in their compliance with the law.

The purpose of the Sarbanes-Oxley Act was to crack down on corporate fraud. For example, the Sarbanes-Oxley Act, in addition to creating the Public Company Accounting Oversight Board (PCAOB) (which does exactly what its name would suggest), also banned the act of company loans being given to executives. The Act also provides whistleblowers with job security so that those who witness something unlawful can report it without fearing they will be terminated as a result.

Why you should Attend: Although SOX applies to almost every aspect of corporate business, there are unique aspects of payroll and hr that, if mismanaged, can and do result in major violations of the Act. This webinar will focus on those aspects of the SOX act. Topics include the sections of SOX that apply to all companies, areas of payroll and HR that need special attention, and the internal controls necessary to ensure not only compliance with the act but are meant to enhance your company's efficiency and profitability.


Further, the PCAOB has announced that its focus in SOX audits will be cyber security. Several recent data breaches have resulted in major disruptions to corporate operations. Obviously, the fear instilled in the public as a result of these breaches cannot be underestimated. Therefore you will learn how to evaluate your IT systems for security. You will be given advice from the SEC and other agencies in order to launch this investigation for your company’s sake.

Areas Covered in the Session:
  • Origin and Summary of SOX
    • Corporate scandals that led to passage of the Act
    • Section 302 which establishes reporting requirements
    • Section 404 establishing 3rd party requirements and Internal controls
    • Section 802 establishing penalties for non-compliance
    • PCAOB recent changes and focus
  • SOX Compliance Specifics
    • Executive and BOD requirements
    • What are internal controls required for compliance?
    • Specific payroll and HR control areas
  • How to Comply - Internal Controls
    • The basics of internal auditing and/or 3rd party reviews
    • Separatrion of duties
    • Payroll authorization and reconciliation controls
    • Regulatory compliance controls
    • HR related internal control examples
    • Policies vs procedures
  • Use of Third Party Administrators
    • SAS 70 requirements
    • SSAE 16 requirements
  • Internal Assessments of Payroll Operations
    • Acknowledged payroll
    • Fringe benefits and other payments to employees
    • Accounts payable expenses to workers
    • Payroll related internal asssessments
  • A primer in cybersecurity
    • What do hackers do?
    • The devastating costs and other risks of cyber hacks
    • How to integrate internal controls into IT security
  • Best PRactices

Who Will Benefit:
  • Benefit Managers
  • HR Personnel
  • Payroll Managers
  • IT Managers
  • Corporate Executives
  • Board of Director Members
  • Internal Audit Staff

Mark Schwartz is an employment tax specialist and has over 15 years of employment tax experience as an independent consultant and as a payroll tax auditor with the State of California. He has managed an audit caseload of 20 ongoing audits, from small home-based businesses to large multi-national corporations. He is expert at defining regulatory and statutory requirements from local, State and Federal government agencies; and helping the average businessperson understand what that means to their business. He has processed weekly and bi-weekly payroll checks plus tax forms for businesses with hourly as well as exempt workers, multistate operations and a wide variety of benefits.

Mr.Schwartz provides consulting services encompassing payroll processing and payroll tax issues. These include payroll tax minimization, payroll tax compliance reviews, independent contractor studies, use of electronic transfers, deductions, benefits, etc. Mark has represented both clients and the State in front of the State Appeals Board. He understands the complexities of local wage laws, unemployment and disability claims, and other wage and benefit issues affecting your employees.

Mark prides himself on his outstanding customer service skills. He listens attentively to his clientele, helping them bridge the gap between the small business world and Government bureaucracy. He eagerly assists with clients needs and feels that educating clients toward faster, accurate and more complete payroll processes provide the most value.

Mark is a participating member of the American Payroll Association. He earned his BA and MBA in Finance at Santa Clara University. He has held Certified Internal Auditor and Certified Investment and Derivatives Auditor Credentials. Mark is currently pursuing a Certified Payroll Fundamentals Credential with the American Payroll Association.

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