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| Author : | Joseph P Helstrom, CPA |
| Course Length : | Pages: 25 ||| Review Questions: 8 ||| Final Exam Questions: 10 |
| CPE Credits : | 2.0 |
| IRS Credits : | 0 |
| Price : | $17.95 |
| Passing Score : | 70% |
| Course Type: | NASBA QAS - Text - NASBA Registry |
| Primary Subject-Field Of Study: | Computer Software & Applications - Computer Software & Applications for Course Id 352 |
| Description : | Spreadsheets have become pervasive in most companies and have many uses. Those that are used in the financial reporting process are of most concern to the assessment of the effectiveness of internal controls over financial reporting mandated by Sarbanes-Oxley. This course discusses how to evaluate spreadsheets under the rules of Section 404 and AS 2201 as well as what specific compensating spreadsheet controls are supported by Excel 2007, Excel 2010, Excel 2013 and Excel 2016. This course has been written for Excel 2007. Steps that differ in Excel 2010, 2013 and 2016 have been noted in gray shadow boxes for the few instances where there is a difference. |
| Usage Rank : | 0 |
| Release : | 2017 |
| Version : | 1.0 |
| Prerequisites : | Excel 2007/ Excel 2010/ Excel 2013/ Excel 2016 is needed. |
| Experience Level : | Overview |
| Additional Contents : | Complete, no additional material needed. |
| Additional Links : |
Spreadsheet Controls Under Sarbanes Oxley Section 404 NASBA
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| Advance Preparation : | Should have familiarity with formulas and functions. |
| Delivery Method : | QAS Self Study |
| Intended Participants : | Anyone needing Continuing Professional Education (CPE). |
| Revision Date : | 01-Jun-2021 |
| NASBA Course Declaration : | Participants must complete the final examination within one year of purchase and with a minimum passing grade of 70% or better to receive CPE credit unless otherwise noted on the Course History page (i.e. California Ethics must score 90% or better). After logging in click on the Course History links on your My Courses page for the Begin date and Expire date for the Final Exam. |
| Approved Audience : | NASBA QAS - Text - NASBA Registry - 352 |
| Keywords : | Computer Science, Spreadsheet, Controls, under, SarbanesOxley, Section, 404, cpe, cpa, online course |
| Learning Objectives : |
Course Learning Objectives The objectives of this course are:
Recognize the process for evaluating spreadsheets under the rules of Section 404 and AS 2201 Identify specific compensating spreadsheet controls supported by Microsoft Excel |
| Course Contents : | Chapter 1 - Spreadsheet Controls under Sarbanes-Oxley Section 404 Sarbanes Oxley Public Company Accounting Oversight Board AS 2201: An Audit of Internal Control Over Financial Reporting That Is Integrated with An Audit of Financial Statements Introduction AS 2201 Approach Materiality Using a Top-Down Approach Identifying Entity-Level Controls Identifying Significant Accounts and Disclosures and Their Relevant Assertions Understanding Likely Sources of Misstatement Selecting Controls to Test Specific Procedures Related to Spreadsheets to Comply with Section 404 and PCAOB AS 2201 Inventory all spreadsheets Determine how current spreadsheets are being used Determine the risk factors of the spreadsheet Evaluate compensating controls for risk factors Documentation of procedures Remediation Controls that Excel supports Access to the spreadsheet is limited to authorized users Passwords Controls to validate user input data validation Review Questions Spreadsheets protected against unauthorized changes Cell protection Spreadsheets protected against unauthorized changes Workbook Protection Spreadsheet Documentation is Adequate Comments A Logic inspection by an independent party is performed Formula Auditing Highlighting all cells containing formulas Trace Precedent and Dependent Cells Error Checking Watch Window Logic Inspection Inspect Document Controls not supported by Excel Summary Review Questions Glossary |
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