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Segregation of Duties (SoD) Concepts

SEGREGATION OF DUTIES (SoD) CONCEPTS

Cost Free
Presentation Length 1.0 hour

Recorded DateDecember 16, 2020
CPE:Not available
(archived webinars do not offer CPE credits)
Subject AreaAuditing
Course LevelBasic
Course Description

Segregation of duties (SoD) is an essential, critical 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 ordinary course of daily business. Segregation of duties provides two benefits: 1) deliberate fraud becomes more difficult because it requires the collaboration of two or more persons, and 2) it is much more likely that innocent errors will be found. 

It means that no single individual should have control over two or more phases of a transaction or operation at the most basic level. 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.

Learning Objectives:


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

  • Recall 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

  • Recall specific examples of compensating controls for the AP process

  • Identify the components of an effective SoD policy

Not logged
PLEASE NOTE: ARCHIVED WEBINARS DO NOT QUALIFY FOR CPE
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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 internal control and leading practices for all aspects of financial operations. She was recruited to lead WorldCom (MCI) to implement internal rules, 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). Chris is also a Certified Internal Controls Auditor (CICA) and a Certified Professional Controller (CPC).
 

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.