Using the COSO Framework
Author: Robert K Minniti
| CPE Credit: |
2 hours for CPAs |
This course is designed to review the use of the COSO Framework for Internal Controls. The course will cover the five components of the COSO Framework: the control environment, control activities, information & communication, risk assessment and monitoring. We will discuss conducting a risk assessment and developing various types of internal controls. We will walk through the process of developing internal controls.
Publication Date: September 2021
Designed For
CPAs, CFEs, CFFs, CMAs, CIAs, MAFFs, CGMAs, CFOs, CEOs, business owners, business managers, internal auditors, external auditors, corporate accountants, government accountants and risk management personnel.
Topics Covered
- COSO Framework for Internal Control
- Internal Control & Cybersecurity Frameworks
- COBIT
- Obtaining an Understanding of the Control Environment
- Requirement for Internal Controls
- COSO Framework for Internal Control: Control Environment
- COSO Framework for Internal Control: Risk Assessment
- Identifying Risks
- COSO Framework for Internal Control: Control Activities
- COSO Framework for Internal Control: Information & Communication
- COSO Framework for Internal Control: Monitoring
- COSO Framework for Internal Control: Judgment
- COSO Component Evaluation
- Evaluating Internal Controls
Learning Objectives
- Identify the components of the COSO Framework for Internal Control
- Identify how to implement the COSO Framework for Internal Control
- Recognize which COSO component is often referred to as the "Tone at the Top"
- Identify an aspect of risk assessment, control environment, control activities, and risk assessment
Level
Basic
Instructional Method
Self-Study
NASBA Field of Study
Accounting (2 hours)
Program Prerequisites
None
Advance Preparation
None
