On-demand webinar

UK SOX: Beyond the compliance checkbox

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60 minutes

In response to public and government pressure after multiple high-profile corporate failures, the Financial Reporting Council (FRC) has been working on a UK equivalent of the US Sarbanes-Oxley Act (SOX). SOX requires CEOs and CFOs to attest that a company’s internal controls are robust enough to ensure that financial statements are reliable. But internal controls are more than simply ticking compliance boxes. Instead, it should be about doing what’s right for the organisation: reducing risk and reliably achieving objectives. To fulfil both regulator and shareholder demands for sustainable, well governed profitability, you must demonstrate your business is under control—as opposed to merely having controls.

In this webinar, Julianne McGarry, Senior Lecturer at the Governance Hub of BCU and Tom Faraday, Senior Product Manager at Galvanize will discuss how to successfully plan and implement a control framework that delivers increased risk assurance without placing unnecessary burden on the business.

You'll learn:

  • How to mitigate the negative impacts of SOX and avoid falling into a costly check-box exercise
  • The practicalities of the 3 LOD model and the operational challenges of implementing it
  • How to embed controls as part of your organisation's DNA without placing unnecessary burden on the business
  • How to use KCIs to guide your maturity
  • How a risk-based approach drives effective control design

Julianne McGarry – Senior Lecturer, Governance Hub at Birmingham City University

Julianne joined BCU in 2021, following previous global roles developing Internal Controls Frameworks at Tata Motors, Rolls-Royce plc, Jaguar Land Rover, Technicolor and Molson Coors.
Julianne has proven her concept of the effectiveness of combined assurance of Risk, Controls and Internal Audit. She has implemented centralised reporting to the C-Suite through the implementation of globalised processes and software for Internal Audit, Internal Controls (testing and monitoring) and Risk Management that dovetail to the governance oversight needed by Boards and Audit Committees to further the Governance Agenda of organisations.
Julianne is a Chartered member of the British Institute of Internal Auditors and since 2007 has specialised in effective internal control frameworks and the Sarbanes-Oxley Act 2002, after spending nearly 20 years in Internal Audit across the Public and Private Sector. Julianne also holds an MSc in Risk Management.

Tom Faraday - Senior Product Manager at Galvanize

Tom Faraday has spent the last 10 years working with organisations of various sizes and across multiple industries supporting them with the definition, implementation and continued success of their GRC programs. At Galvanize, he is responsible for ensuring our products support Internal Controls teams with the simplification and automation of their core internal controls processes.