Understanding COSO Framework Compliance - In-Person
Deepen Your Knowledge of Internal Controls and Achieve COSO Framework Compliance
Join the Understanding COSO Framework Compliance – In-Person CPE Training Event to gain a comprehensive understanding of the COSO Framework and its practical application in modern businesses. Ideal for auditors, compliance professionals, and managers, this interactive session explores the core components of the framework, empowering attendees to enhance internal controls, conduct effective risk assessments, and uphold SOX compliance standards. Attendees will earn 2 NASBA-approved CPE credits while gaining expert insights into best practices for organizational governance and compliance.
Why Attend?
Earn 2 CPE Credits - Advance your professional development with recognized Continuing Professional Education (CPE) credits to solidify your credentials.
Master the COSO Framework - Learn the key components – control environment, risk assessment, control activities, information and communication, and monitoring activities – and discover how to integrate them for effective internal controls.
Strengthen Your Risk Management Approach - Understand how to apply a top-down, risk-based methodology to assess and enhance your organization’s compliance and internal control strategy.
Enhance SOX Compliance - Gain practical knowledge to align your organization’s control systems with the requirements of the Sarbanes-Oxley Act (SOX).
Learn from Real-World Applications - Benefit from case studies and examples that highlight how to implement the COSO principles effectively.
Course Highlights
This engaging program covers every essential aspect of the COSO Framework with actionable strategies, including:
Core Components of the COSO Framework - Explore the five components – control environment, risk assessment, control activities, information and communication, and monitoring – and their interdependence.
Top-Down Risk-Based Internal Controls Approach - Learn how to apply a risk-based approach to improve compliance and mitigate organizational vulnerabilities.
SOX Compliance Best Practices - Understand how to align internal controls with the Sarbanes-Oxley Act, leveraging governance and transparency to reduce risks effectively.
Fraud Prevention and Risk Detection - Discover techniques to strengthen internal controls for preventing and detecting corporate fraud.
Leveraging Internal Control Frameworks - Compare COSO with frameworks like COBIT to find the best fit for your business operations.
Learning Objectives
By attending this in-person training, you will gain the knowledge and skills to implement COSO principles with confidence. Key objectives include:
Understanding the COSO Framework Structure - Analyze the components and principles of the COSO Framework to support effective internal controls.
Applying a Risk-Based Approach - Learn to implement a top-down, risk-based methodology for assessing controls and improving compliance measures.
Evaluating and Managing Internal Controls - Classify and enhance the controls essential for sustaining effective business operations.
Implementing SOX Best Practices - Utilize insights from the Sarbanes-Oxley Act to align current processes with industry-standard practices.
Building a Strong Control Environment - Promote a risk-aware organizational culture by implementing robust controls and fostering accountability.
Key Agenda Topics
This two-hour training program provides structured, practical guidance through the following agenda topics:
Session 1 – Defining Internal Control and Business Processes
- Overview of the 2013 COSO Framework structure.
- Relationship between internal controls and business objectives.
Session 2 – Core Components of the COSO Framework
- Deep-dive into the five COSO components and their proper order for integration.
Session 3 – Principles and Attributes of the Framework
- Understanding core principles and points of focus for building effective internal controls.
Session 4 – Practical Implementation and Limitations
- How to integrate and evaluate internal controls for maximum effectiveness.
Event Details
- Format: Interactive, live sessions led by field experts.
- Schedule: Wednesdays, 1:30 p.m. – 3:30 p.m. CST.
- Duration: 2 Hours (50 minutes per CPE instruction hour).
- Cost: $190 per participant.
- Private Training Options: Available for teams of two or more with customized scheduling.
Who Should Attend?
This program is designed for professionals tasked with building or enhancing internal controls, ensuring SOX compliance, and managing risk, including but not limited to:
- Auditors: Deepen their knowledge of governance frameworks and strengthen audit practices.
- Compliance Officers: Gain tools for aligning processes with regulatory requirements.
- Risk Managers: Learn strategies to enhance internal control resilience and reduce vulnerabilities.
- Finance and Operational Professionals: Ensure systems meet reporting standards and operational goals.
Why the COSO Framework Matters
The COSO Framework is a global standard for internal controls, providing guidance to ensure financial accuracy, regulatory compliance, and effective risk management. By attending this training, professionals can develop actionable skills to improve governance, foster cultural commitment to compliance, and adapt to evolving business environments.
Strengthening internal controls not only prevents fraud and inefficiencies but also positions organizations for long-term growth and operational success through improved accountability and transparency.
Register Today
Take the first step toward mastering the COSO Framework and advance your expertise in internal controls and compliance. Join the Understanding COSO Framework Compliance – In-Person Training Event to gain valuable insights, hands-on experience, and best practices for achieving operational excellence.
Reserve your spot now and enhance your understanding of the COSO Framework while earning recognized CPE credits!
Details on Event Presentation
Being offered on Wednesdays at 1:30 p.m. to 3:30 p.m.
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: On-site Training (Group-Live); Seminar (Group-Live)
NASBA Field(s) of Study: Auditing, Information TechnologyCPE Credits: 2, based on 50 minutes of instruction per hour
CPE Event Highlights
The seminar reviews the following:
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Top Ten Internal Controls in 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 Frameworrks: 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 Internal Control 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 operations
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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 2013 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 2013 Framework
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The Five Components
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The proper order of the COSO Components
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Internal Control labeling
Section 3 - Principles and Points of Focus within the Frameworks
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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 focusing on Understanding COSO 2013 Framework Compliance provides a comprehensive exploration of the essential components and best practices related to achieving compliance with the Committee of Sponsoring Organizations of the Treadway Commission (COSO) 2013 framework. This in-person event serves as a valuable resource for professionals seeking to strengthen their understanding of the COSO framework, its principles, and the practical approaches to implementing effective internal controls within their organizations.
Key areas covered in this event may include:
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COSO Framework Fundamentals: In-depth analysis of the COSO 2013 framework, including its core principles, components, and the interrelated aspects essential for establishing a robust system of internal control, enabling participants to grasp the foundational elements underpinning effective compliance.
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Risk Assessment and Control Environment: Exploration of the methodologies and considerations involved in risk assessment, as well as the development and maintenance of a sound control environment aligned with the COSO framework, equipping attendees with insights into cultivating a risk-aware culture and bolstering organizational resilience.
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Monitoring and Adapting to Change: Guidance on the monitoring processes and mechanisms essential for evaluating the effectiveness of internal controls, along with strategies for adapting to evolving business landscapes and regulatory environments in a manner consistent with the COSO framework's requirements.
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Practical Implementation and Best Practices: Practical insights and best practices for implementing the COSO 2013 framework within organizations, including real-world case studies and scenarios that illustrate successful approaches to compliance and the benefits derived from aligning with the framework's principles.
By delving into these pivotal aspects, the in-person CPE event endeavors to empower professionals with the knowledge and tools necessary to navigate the nuances of the COSO 2013 framework, thereby fostering a culture of effective internal control and governance aligned with industry best practices.
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Authoritative Sources
It's fantastic to see your commitment to expanding your knowledge after the CPE event on the COSO 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 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 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 Framework and its implications for compliance, enabling them to apply this knowledge effectively within their organizational contexts.