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COSO 2013 Overview

1.5 Credits

$30

Subject Area

Auditing

Webinar Qualifies For

1.5 CPE credit of Auditing for all CPAs

1.5 CPE credit for Certified Management Accountants (CMA)

1.5 CPE credit for Certified Internal Auditors (CIA)

1.5 CPE credit for Certification in Risk Management Assurance (CRMA)

1.5 CPE credit for Internal Audit Practitioner (IAP)

1.5 CPE credit for Qualification in Internal Audit Leadership (QIAL)

1.5 General Educational credit for Tax Professionals / Bookkeepers / Accountants

Course Description

It's been more than 20 years since the Committee of Sponsoring Organizations of the Treadway Commission (COSO) released its Internal Control—Integrated Framework (the original framework). The original framework is widely accepted as a leading framework for designing, implementing, and conducting internal control and assessing the effectiveness of internal control. Since then, technology has drastically changed the business operating environment and the associated risks.

In May 2013, the COSO foundation released an update to the framework.  The framework was updated due to global economic changes, enhanced information technology and increased shareholder expectations.  Professionals must obtain a basic understanding of the concepts, principles and potential impact, including changes from the 1992 framework and the key COSO components and 17 principles. 

This online CPE course provides an overview of the important concepts of COSO 2013. You'll learn about the important changes in the COSO framework and explore opportunities for management to place a renewed focus on internal control and enhance and solidify their Sarbanes-Oxley attestation.

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

In this webinar, attendees 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.

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Learning Objectives

  • To evaluate the definition of IC and its importance in today’s business.
  • To examine the basic tenants of IC.
  • To explore reason for COSO update and dissect key changes.
  • To examine the keys to the COSO 17 principles.
  • To explore how to perform a needs impact assessment and compliance plan.  

Who Should Attend?

  • Certified Management Accountant
  • Certified Public Accountant
  • CPA (Industry)
  • CPA - Mid Size Firm
  • CPA - Small Firm
  • Young CPA