Understanding COSO Framework Compliance
Welcome to our webinar CPE event: Understanding COSO Framework Compliance. This hands-on, engaging course is designed to provide a comprehensive understanding of the COSO Framework and its practical application in today's complex business environment.
Our expert instructor offer an immersive learning experience, guiding you through the intricacies of the COSO Framework. They will help you understand its core components - control environment, risk assessment, control activities, information and communication, and monitoring activities. You'll learn how these components interrelate and how they can be effectively implemented for optimal internal control.
This CPE course isn't just about theory - we dive deep into real-world examples, enabling you to apply your newly acquired knowledge in practical scenarios. Whether you're an auditor seeking to enhance your skills or a company striving for better internal control, this course offers valuable insights and know-how about the COSO Framework.
By the end of this CPE course, you'll be equipped with a thorough understanding of the COSO Framework components and principles, empowering you to improve your organization's internal control system and ensure compliance.
This internal control training event will provide each attendee with 2 CPE Hours. A certificate of completion will be provided.
Join us for this enlightening webinar CPE event and take a significant step towards mastering the COSO Framework. Let's embark on this learning journey together!
Details on Event Presentation
Offered every six weeks on Thursdays at 10:00 a.m. to 12:00 p.m. Central Time in two CPE-Credit event.
We can schedule private events on your timetable for two or more attendees.
NASBA Program Disclosure
Program Level of Understanding: Basic
Prerequisites: None
Advance Preparation: None
Delivery Format: Group Internet Based
NASBA Field(s) of Study: Auditing, Information TechnologyCPE Credits: 2, based on 50 minutes of instruction per hour
CPE Event Highlights
The COSO Framework CPE event reviews the following:
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Top Ten Internal Controls within the COSO Framework
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Top Down risk-based Approach to the COSO Framework
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The Importance of Internal Controls in Mitigating Risk for Your Organization
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Best Practices Learned from the Sarbanes-Oxley Act (SOX)
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Internal Control Frameworks: COSO Framework and COBIT
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Risk Management, Business Process Management, and Key Controls
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Testing the Effectiveness of Internal Controls
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Preventing and Detecting Corporate Fraud
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Learning Objectives
Attendees will:
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Understand the structure of the COSO Framework
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Be able to describe the "top-down, risk-based" approach to assessing internal control, and be able to compare this approach to their current approach
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Be able to classify the types of internal controls to manage business and administrative processes
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Be able to identify the compliance requirements of the Sarbanes-Oxley Act and apply the best practices to their current practice
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Key Issues on the Agenda
Introductions
Section 1 - Defining Internal Control & The Objectives-
COSO Framework Structure
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Defining Internal Control
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Business Objectives drive the internal control processes
Section 2 - Components of the COSO Framework
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The Five Components
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The proper order of the COSO Framework Components
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Internal Control labeling
Section 3 - Principles and Points of Focus within the COSO Framework
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Principles matter
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Points of Focus are further attributes
Section 4 - Effective Internal Control
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Integration of the controls
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Limitations of the internal controls
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Summary of the Subject Matter
This CPE event "Understanding COSO Framework Compliance," provides a comprehensive exploration of the COSO Framework and its implications for compliance.
This educational program aims to equip participants with a thorough understanding of the key components of the COSO Framework, including its internal control principles, framework updates, and practical applications within the realm of compliance.
By delving into these critical aspects, the event seeks to empower attendees with the knowledge and insights necessary to ensure effective compliance with the COSO Framework, ultimately contributing to sound governance, risk management, and control processes within their organizations.
Authoritative Sources
It's fantastic to see your commitment to expanding your knowledge after the CPE event on the COSO Internal Control Framework. Here are some authoritative sources, along with their web links, to further enhance your understanding:
- Guide to COSO Framework and Compliance: This comprehensive guide provides insights into implementing the COSO internal control framework, particularly focusing on assessing its five components, including the control environment and risk assessment.
- The 2013 COSO Framework & SOX Compliance: This source offers information on establishing structure, authority, and responsibility within the framework, emphasizing the importance of commitment to competence and accountability in the compliance process.
- Fundamentals of the COSO Framework: A valuable resource that delves into the fundamentals, pillars, and steps to implement the COSO framework, offering an in-depth understanding of its core elements.
- DeloitteESGNow — Using the COSO Framework: Deloitte's insights on using the COSO Framework post its 2013 revision to encompass all forms of reporting, including internal, external, financial, and sustainability.
- COSO Internal Control – Integrated Framework (2013): A whitepaper offering insights into the compliance objective of the 2013 COSO Framework, particularly related to the entity's compliance with applicable laws and regulations.
By exploring these authoritative sources, attendees can further enhance their understanding of the COSO 2013 Framework and its implications for compliance, enabling them to apply this knowledge effectively within their organizational contexts.