Applying the Dynamic Nature of the COSO Framework

  • Accountant
  • CRMA
  • CPA/CFF
  • CFE
  • CGAP
  • CGFM
  • CIA
  • CMA
  • CPA (US)
  • CVA
  • IAP
  • QIAL
  • CBA/MCBA
  • CFIRS
  • CWS
  • Course Description
  • Course Qualification
  • Presenter
  • FAQ

Course Description

Course Description

Many organizations have gone through extensive efforts to comply with Sarbanes-Oxley and other internal control regulations to ensure accuracy in their financial statements. But financial statement controls cover only a small area of risk and often ignore the far greater risks resulting from weak operational and other financial controls. Accountants believe that COSO represents a means for developing internal controls to prevent and detect errors and fraudulent activities.  As described in its definition, however, it is a much more dynamic system used to achieve management’s goals of reliable financial reporting, effective and efficient operations, and compliance with applicable laws and regulations.

The COSO model can be applied to projects as broad as developing a plan for a new business to objectives as specific as reducing the cost of maintaining a business asset.  It can be applied to an entire entity, a department within the entity, a process performed by a department, or a specific transaction that is part of the process.

This Online Auditing CPE Webinar covers the following Key Topics:

  • Overview of COSO framework
  • 5 components of the COSO framework: Control environment, Control activities, Information & Communication, Risk assessment, and Monitoring
  • 17 principles supporting the components of the COSO framework
  • Points of focus that reduce the principles to individual characteristics.

In this Online CPE Webinar, for CPA, CIA, CMA, CGAP, and other professionals the attendee will learn how to apply the process using examples related to establishing an entity, avoiding errors or fraud that reduce the reliability of financial statements, and achieving a specific objective such as increasing the sales associated with a specific product.

Learning Objectives

  • To identify the 5 components of the COSO internal control model
  • To match the 17 principles of the COSO framework to the 5 components COSO framework
  • To recall the points of focus that apply to each of the seventeen principles
  • To identify ways of applying the COSO model to the achievement of large and small objectives
  • To identify the differences between automated and manual controls

Recommended For

This CPE course is recommended for CPAs, CIAs, CMAs, CGAPs, Risk Managers, Internal Control Managers, and Other Professionals desiring to the learn about COSO framework.

Who Should Attend?

  • Accounting and audit managers/practitioners
  • Auditors
  • CEO
  • Certified Management Accountant (CMA)
  • CFO/Controller
  • Chartered Professional Accountant
  • Chief Accounting Officer
  • Compliance Managers
  • Compliance Officers
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • Entrepreneurial CPA
  • Risk Managers
  • Senior Accountant
  • Young CPA

Course Qualification

Webinar Qualifies For

  • 2 CPE Credit for Qualification in Internal Audit Leadership (QIAL)
  • 2 CPE Credit for Internal Audit Practitioner (IAP)
  • 2 CPE Credit of Auditing for Certified Public Accountants (CPA-US)
  • 2 CPE Credit of Auditing for Certified Management Accountants (CMA)
  • 2 CPE Credit of COSO framework for Certified Internal Auditors (CIA)
  • 2 CPE Credit for Certified Government Auditing Professional (CGAP)
  • 2 CE Credit for Certified Fiduciary & Investment Risk Specialist (CFIRS)
  • 2 CE Credit for Certified Wealth Strategist (CWS)
  • 2 General Credit for Accountant/Bookeeper
  • 2 CPE Credit for Certification in Risk Management Assurance (CRMA)
  • 2 CPD Credit of Auditing for Certified Financial Forensics (CFF)
  • 2 CPE Credit of Auditing for Certified Fraud Examiner (CFE)
  • 2 CPE Credit for Certified Government Financial Manager (CGFM)
  • 2 CPE Credit of Auditing for Certified Valuation Analyst (CVA)
  • 2 CPE Credit of Auditing for Certified Business Appraiser/Master Certified Business Appraiser (CBA/MCBA)

Additional details

  • Course Level :
    Intermediate
  • Credits :
    2
  • Instructional Method :
    Group Internet Based
  • Pre-requisites :
    A Basic Understanding Of Internal Controls
  • Advance Preparation :
    None

NASBA APPROVED

MY-CPE LLC, 1600 Highway 6 south, suite 250, sugar land, TX, 77478

MY-CPE LLC (Sponsor Id#: 143597) is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the National Registry of CPE Sponsors through its website: www.NASBARegistry.org.

Presenter

About Presenter

Mark Dauberman, CPA (US)

Owner, Mark Dauberman

Mark provides CPE and technical staff training for CPA firms, private industry, state CPA societies, and government organizations.  His topics include accounting, SSARS, ethics, fraud, internal and external auditing, internal control development (COSO), entrepreneurship, and developing a business plan.  Mark is in the process of initiating a new entity, The Internal Control Institute, which will be offering CPE and staff training related to internal controls, and in conjunction with professors from Claremont Graduate University, will be providing internal control consulting.

Mark is also an expert witness in the defense of CPAs in cases involving primarily ethics, fraud, and compliance with standards in the performance of professional services.

Mark also provides consulting services to CPA firms with an A & A practice that do not have an expert on GAAP or requirements of Professional Standards within the firm.  He addresses such matters as conformity with GAAP, adequacy of disclosures, compliance with professional standards, risk assessment, development and performance of audit and review processes, engagement documentation, compilation and preparation engagements, ethics and independence requirements, assessing and enhancing internal controls for the firm and clients, preparation for peer review, and staff training and CPE.  He also provides consulting services related to client management and marketing.

Mark’s public accounting experience includes working with Kenneth Leventhal & Company and more recently, he was a partner at NSBN, a Beverly Hills CPA and business consulting firm. Mark’s industry experience includes serving as assistant controller of a large trucking and warehousing firm along with controller and Vice President of Finance and Administration for major real estate development companies.  Mark also spent nearly 30 years as an entrepreneur, operating a company that prepared individuals for the CPA exam nationwide.

Mark has been involved in accounting education at CSU Northridge, CSU San Bernardino, Loyola Marymount University and UCLA.  He obtained his bachelor’s degree in accounting from CSU Northridge. He obtained his Executive MBA at the Peter Drucker and Masatoshi Ito School of Management at Claremont Graduate University, where he previously had been a student of Dr. Drucker’s.  He also obtained an Internal Control Certificate from COSO.  Until recently, he authored “Knowledge Based Preparation, Compilation, and Review Engagements” for CCH and updated their checklists for SSARS engagements.  He also served as Senior Editor for Roger CPA Review.

About Company

Mark Dauberman

www.markdauberman.com

Mark Currently provides CPE and technical staff training for CPA firms, private industry employers of accountants, and government organizations on topics that include accounting, compilation and review, fraud, internal and external auditing, developing internal controls, strategic planning, and practice management.  He is also the Senior Editor for Roger CPA Review Course and authors CCH’s “Knowledge-Based Compilations and Reviews”.

Mark’s public accounting experience includes working with various local firms throughout high school and college, and employment with Kenneth Leventhal & Company. More recently, he was a partner at NSBN, a Beverly Hills CPA and business consulting firm, where he served as director of the audit practice and was responsible for recruiting, training, business development, quality control, and strategic planning for the firm. Mark’s industry experience includes serving as assistant controller of a large trucking and warehousing firm. He has been both a controller and the Vice President of Finance and Administration for major real estate development companies.  Mark also spent nearly 30 years as an entrepreneur, operating a business that prepared individuals for the CPA exam.

Mark taught his first university accounting class in 1969 and has been involved in accounting education since, most recently a visiting lecturer at California State University at San Bernardino.

Mark obtained his bachelor’s degree in accounting from California State University at Northridge. He obtained his Executive MBA at the Peter Drucker and Masatoshi Ito School of Management at Claremont Graduate University, where he previously had been a student of Dr. Drucker’s.

Faq

FAQs content

  • To receive Continuing Education credit for the event, you must register for the webcast prior to the start of each program.
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  • Our courses meet the global Continuing Professional Development (CPD-IES7) Standard for Chartered Accountants with International Education Standard 7 (IES 7) set by The International Federation of Accountants (IFAC), the International Accounting Education Standards Board (IAESB) and the Association of Chartered Certified Accountants (ACCA). Based on our accreditation by existing IFAC members and affiliates, we believe learners can count their professionally relevant, verifiable learning activities on myCPE, including taking on demand courses and attending live webinars, toward fulfillment of their verifiable CPD-IES7 requirements. However, if there is any question, we recommend that the individual learner confirm with his/her professional licensing organization before taking myCPE courses for CPD-IES7 credit.
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Ratings and Review

4.4

23 Ratings

Excellent

11

Very Good

11

Average

1

Poor

0

Terrible

0

LR

Lisa Robinson, CPA (US)

Dec 16th, 2021

great topic, well done

SB

Siobhan Buckley, CMA, CPA (US)

Dec 14th, 2020

Great

JO

Jordan Olson, CPA (US)

Nov 16th, 2021

There was a lot of material to cover but the instructor did well at highlighting the keep areas.

EB

Erin Bonta-lewis, CPA (US)

Dec 17th, 2020

Great

Applying the Dynamic Nature of the COSO Framework

PREMIUM

2 Credits

Subject Area

Auditing

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