R12 Oracle Internal Controls Manager Fundamentals - LVC

Course Description

In many countries, governmental regulations apply to the testing and reporting of corporate internal controls. For example, in the United States, the Sarbanes-Oxley Act of 2002 makes reporting on a company's internal control mandatory for both management and external auditors. In this class you will learn how to use, set up and manage Oracle Internals Controls Manager to ensure that your company complies with the appropriate regulations as describe in the COSO standards.In this class, you will learn how to develop business controls, create and maintain a risk library, perform audits, monitor controls, and create reports that will help you assess your current state of compliance. You will perform hands on exercises to apply the practical knowledge you have learned in class.Learn To: Understand the Sarbanes-Oxley Act of 2002Describe the features of Oracle Internal Controls ManagerCreate Business ProcessesCreate and use a risk libraryCreate and run audit proceduresCertify business processesA Live Virtual Class (LVC) is exclusively for registered students; unregistered individuals may not view an LVC at any time. Registered students must view the class from the country listed in the registration form. Unauthorized recording, copying, or transmission of LVC content may not be made.

Skills Gained

• Understand Oracle Internal Controls Manager Integration with the Oracle E-Business Suite
• Create, understand and document business processes
• Understand Corporate Governance
• Create risks and controls in the risk library
• Create and manage audit procedures
• Understand auditable units
• Conduct an audit project
• Create findings and remediations
• Perform application controls monitoring
• Set up segregation of duties
• Create and use financial statement certifications
• Use reporting within Oracle Internals Control Manager

Who Can Benefit

• Business Analysts
• End Users
• Functional Implementer
• Technical Consultant

Prerequisites

• Thorough knowledge of Oracle Applications
• Familiarity with Sarbanes-Oxley, COSO, and other corporate governance concepts

Syllabus

Overview of Corporate Governance

• Sarbanes-Oxley Act of 2002 and the E-Business Suite
• Key concepts of The Committee of Sponsoring Organizations of the Treadway Commission
• Components of Internal Controls
• Steps in Compliance and Corporate Governance

Introduction to Oracle Internal Controls Manager

• Oracle Internal Controls Manager Integration with the Oracle E-Business Suite
• Benefits of Oracle Internal Controls Manager
• Defining Users and Assigning Responsibilities

Business Processes

• Creating Processes
• Importing Processes
• Documenting Processes in Internal Control Manager
• Linking Processes with Objectives and Key Accounts
• Process Variation

Risks and Controls

• Creating Risks and Risk Types
• Associating Risks to Processes
• Creating Controls
• Associating Controls to Risks
• Risk Event Tracking

Audit Procedures

• Associating Audit Procedures with Tasks
• Uploading Audit Procedures

Auditable Units

• Creating Auditable Units
• Associating Processes to Auditable Units
• Process Exceptions

Assessments

• Integration with Oracle Scripting
• Oracle iSurvey
• Discover Reports

Audit Projects and Audit Engagements

• Conducting an Audit Project
• Audit Engagements

Findings and Remediations

• Findings and Remediation Actions
• Creating Findings and Remediations

Application Controls Monitoring

• Profile Options Monitoring
• Supplier Overrides
• Control Change Notification

Segregation of Duties

• Constraints and Waivers
• Preventative Checks
• Violation Checks
• Data Security

Certify Business Processes

• Certification Flow
• Issues

Financial Statement Certifications

• Creating and Using Financial Statement Certification

Opinions Framework

• Opinions Values

Oracle Approvals Management

• Define Approval Groups and Rules

Oracle Tutor

• Process Documentation
• Navigation
• Tutor and Internal Controls Manager
• Tutor Audit Mode

Reporting

• Certification Dashboards
• XML Reports