This banking webinar identifies and explains historical events and legislative milestones. It especially focuses on two major laws:
- FDICIA of 1991
- SOX of 2002
The FDICIA of 1991 portion of the webinar covers:
- FDIC insurance changes
- Restrictions on real estate lending
- Improved capital standards and new capital classifications
- Extension of credit to “insiders”
- FDIC authority to take action
- Enhanced examination process
- Accounting aspects of FDICIA
- Audit committee issues
The Sarbanes-Oxley (SOX) of 2002 portion of the webinar covers:
- The CPA and independence
- CPA audit partner rotation
- Audit committee “financial expert”
- SEC review of periodic disclosures by issuers
- PCAOB – the new quasi-governmental inspectors
- Internal control
- Attendees receive an important overview of what is required by FDICIA and SOX.
- A brief history of activity that leads to these significant laws is provided and is the foundation needed to understand and comply with both laws.
- How internal and external auditors and accountants are affected by these laws is carefully outlined.
- The take-away is a solid understanding of these two game-changing laws.
- Those who will benefit from this webinar include all depository institutions (banks, thrifts, credit unions etc.) – public or non public.
- Additionally, all publicly-owned entities must follow SOX and employees in those entities will benefit from this webinar.
Paul J. Sanchez, CPA, CBA, CFSA conducts a CPA practice in Port Washington, New York. He is also the owner of Professional Service Associates (PSA), a consulting and professional training and development business servicing corporate clients (auditors, controllers, etc.), CPA firms, professional associations and others. He was an assistant professor at Long Island University – C.W. Post Campus as well as an adjunct lecturer at City University of New York. Prior to starting PSA, he was the Vice President-Professional Development for the Audit Division of a regional bank and Director of Professional Practices and Vice President of a money-center bank, where he directed the professional practice development and training for internal auditors.
1.5 CPE Credits & 1.8 AAP Credits