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Sarbanes Oxley Act and the Importance of Internal Controls over Payroll

Thursday, 20 December 2018  10:00 AM PST, 01:00 PM EST

Training Duration = 90 min                  Sponsored by Online Compliance Panel

Click Here to register $200.00

Click Here to register and receive CD recording $400.00

This course helps identify which payroll and benefit expenses are most likely to come under scrutiny due to the SOX Act. It also makes recommendations on how to conduct internal audits designed to test controls over these areas, and ensure the results are adequately represented on corporate financial statements.

This course, taught by an ex-payroll auditor, covers the payroll and benefit areas that are most likely to come under scrutiny due to the Sarbanes Oxley Act (SOX) Act.

Learning Objectives:

  • Origin of SOX - The reasons for its passage
  • SOX Compliance specifics - What it means for the average business
  • Best Practices {How to Comply} - What is expected of management and the payroll dept
  • Use of Third Party Administrators - How to make sure they comply with SOX
  • Internal Assessments of Payroll Operations. - How to conduct timely and effective assessments so management can certify payroll data and financial statements
  • Recent Cases - Who got caught and what happened to them

Why Should You Attend:

SOX has far reaching implications affecting all corporate functions - including payroll. Violations can mean jail time for key company personnel - so it is wise to increase internal controls over those parts of payroll operations which have the most profound effects to your company. For instance:

How confident are you in the security over payroll information?

Do you routinely reconcile and verify your various payroll accounts?

Are your timekeeping and documentation procedures precise and complete enough?

Are liabilities such as pension liabilities reflected in the financial statements in order to comply with the new transparency guidelines?

Are your policies and procedures thorough enough to show auditors your efforts to be compliant?

If not, the Act authorizes both civil and criminal penalties for corporate officers and managers responsible for non-compliance.

Areas Covered

  • The Sarbanes Oxley Act's purpose and key provisions
  • How the Act relates to the payroll function
  • What specifically the payroll department must do to promote compliance with the Act
  • The Internal Audit function and its part in the compliance process
  • Ongoing IA activities to help maintain payroll department compliance with the Act
  • How documentation, testing, reporting, and monitoring can ensure ongoing compliance with the Act


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 mean 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. Markhas 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 provides 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.