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Segregation of Duties (SoD) Concepts

SEGREGATION OF DUTIES (SOD) CONCEPTS

Cost Free
CPE Credits 1.0 hour
Subject Area Auditing
Course Level Basic
Instructional Method Group Internet Based
Prerequisites None
Advanced Preparation None
Course Description

Segregation of duties is a basic, key internal control and one of the most difficult to achieve. It is used to ensure that errors or irregularities are prevented or detected on a timely basis by employees in the normal course of business. Segregation of duties provides two benefits: 1) a deliberate fraud is more difficult because it requires collusion of two or more persons, and 2) it is much more likely that innocent errors will be found. 

At the most basic level, it means that no single individual should have control over two or more phases of a transaction or operation.  This webinar will explore specific concepts, examples and applications of the segregation of duties control at the corporate level and will use the accounts payable (AP) process as an example.


Why should you attend this webinar? 


  • Identify the four types of SoD conflicts at the corporate level.

  • Obtain examples of SoD controls at the corporate level and for the AP process.

  • Recognize SoD conflicts that can exist within the AP process at the transaction and system level.

  • Obtain specific examples of compensating controls for the AP process.

  • Identify the components of a SoD policy.


Agenda


  • Introduction to the Segregation of Duties (SoD) Controls.

  • Defining SoD Conflicts.

  • Corporate Level.

  • AP Process Level.

  • When to Consider Compensating Controls.

  • The Specifics of a SoD Policy.

  • Case Study.

  • Q&A.

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Chris held senior finance and controller positions at Digital Equipment Corporation, Compaq, and Hewlett Packard which allowed her to develop and implement standards of internal control and leading practices for all aspects of financial operations. She was recruited to lead WorldCom (MCI) in the implementation of internal controls, policies, and corporate governance processes. She fine tuned her consulting experience in the Procure to Pay (P2P) area at APEX Analytix and BSI Healthcare.

As President of Doxey Inc., Chris uses her experience to provide best practice solutions to her clients for the P2P process and financial operations.

She holds a bachelor's degree in English, a bachelor's in accounting, a master's in business administration, and has a graduate certificate in project management.  She is a Certified Accounts Payable Professional (CAPP) and holds a Certification in Controls Self-Assessment (CCSA). Chis is also a Certified Internal Controls Auditor (CICA), and  a Certified Professional Controller (CPC).

Handout Materials
Presentation Slides
Additional Materials
SOD Conflict Matricies
Webinar FAQs
Frequently Asked Questions
  • To receive CPE credit for the event, you must register for the webcast prior to the start of each program.
  • CPE is available to all eligible participants within 24 hours of each webinar.
  • Multiple attendees: In order to receive CPE for multiple attendees, ensure that at least one person signs up for the webinar. At the completion of the webinar a proctor form is provided. Alternatively, you may also login to your account following the webinar and click on the MY ACCOUNT button where you will find a link to the proctor letter.
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NASBA Approved

CPAacademy.org (Sponsor Id#: 111889) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.nasbaregistry.org.

CPAacademy.org 1685 S. Colorado Blvd, Suite #205, Denver, CO 80222

About Our Sponsor

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MineralTree makes the easiest-to-use mobile and online AP automation software for finance professionals like you at growing organizations. Whether you’re a controller, AP manager, CFO, or other payment approver, MineralTree’s invoice payment processing solution streamlines AP, giving you significant cost savings and unparalleled control in an affordable, integrated platform with guaranteed fraud protection. We’re focused exclusively on invoice-to-payment automation so businesses benefit from using it and banks, accounting firms, and CPAs can offer it to their customers.