Sarbanes-Oxeley (SOX): Fraud Sections

Field: Auditing | Delivery Method: Self Study | CPE Hours: 1.5

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Sections 806, 902 and 906 of the Sarbanes-Oxley act all have critical implications to companies working to comply with the Act. In fact, many people would contest that the topics addressed in these sections go to the heart of why the legislation was established – because of the instances of corporate misdeeds.


According to the Wall Street Journal, the Securities and Exchange Commission's (SEC’s) whistleblower program has generated tips from more than 6,500 people from at least 68 countries, resulted in more than $150 million in restitution and fines and more than $15 million in bounty payments to the whistleblowers.
Each of these acts address specific criteria to protect whistleblowers and help bring confidence and assurance to investors through requirements of certifications, specification of penalties for non-compliance and protection for whistleblowers.
Note: Information within this course comes from readily available public domain documents and is utilized by the trainer as a supplement for relaying the course content.
Learning Objectives
  • Understand the legal requirements around Section 806 - protection for employees of publicly traded companies who provide evidence of fraud.
  • Examine how Dodd-Frank Act legislation impacts Section 806.
  • Understand the legal requirements around Section 902 – attempts/conspiracies to commit criminal fraud.
  • Understand the legal requirements around Section 906 - criminal penalties for certifying a misleading or fraudulent financial report.
  • Evaluate the variances between SOX Section 906 and 302.
  • Explore recent lawsuits related to the legislation.


Field: Auditing
CPE: 1.5
Delivery Method: Self-Study
Format: Video




Your Instructor


Lynn Fountain
Lynn Fountain

Consultant, CPA, CGMA, CRMA, MBA, Past Chief Audit Executive

Business Consultant, Trainer, Author


Ms. Fountain has over 40 years of experience spanning public accounting, industry accounting and consulting. Sixteen years of that experience has been in the field of internal audit, risk managment and process improvement. She is well adept to assist your organization evaluate business strategy, perform risk assessments, establish a Sarbanes-Oxley process, synergizing internal audit processes or perform process improvement projects.


As a past corporate executive Lynn has a passion for working with professionals to enhance their processes and provide leading edge education. She has authored and delivered hundreds of training courses for accounting, finance and audit professionals. Her training is filled with not just theory but real world application.


Ms. Fountain has authored three technical publications:

-Leading the Internal Audit Function 

-Raise the Red Flag

-Ethics and the Internal Auditor's political dilemma


Lynn is a recognized leader in the internal audit profession as well as a recognized business professional.  


Ms. Fountain obtained her BSBA from Pittsburg State University and her MBA from Washburn University in Kansas. She has active, current CPA, CGMA, and CRMA credentials.


https://www.lynnfountain.net/


Course Curriculum


  Fraud Sections
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