COSO 2013 Training

Understanding COSO 2013 – The Committee of Sponsoring Organizations of the Treadway Commission

Our training offering includes 1 or 2 days classes

At Elevate, we can provide onsite training to you and your staff to provide an overview of 2013 COSO framework’s structure and mission, including what was carried forward into the new framework, broad changes and transition/implementation guidance. We will highlight the key changes including the significant enhancements that may pose challenges to management, provide a detailed understanding of each of the 17 principles, as well as help you formulate specific actions for how you can identify, assess and implement the changes to your specific organization. We will also discuss the limitations of internal control and considerations and next steps during the transition period. Our training offering includes 1 or 2 days classes to cover the following learning objectives:

LEARNING OBJECTIVES:

At the end of this course, participants will be able to:

  • Provide an overview of COSO’s structure and mission
  • Provide an overview of the COSO 2013 framework, including:
    • Core components of the 1992 Framework carried forward in the 2013 Internal Control Framework (ICF)
    • Expectations for governance and oversight
    • Application of ICF to complexities in laws, rules, regulations, and standards
    • Expectations related to competencies and accountabilities
    • Expectations related to the prevention and detection of fraud
  • Discuss and review Entity Level Controls
  • Discuss and review Business Process Controls
  • Discuss and review IT General Controls and linkage to COBIT
  • Provide practical implementation examples facilitated through directed questions and activities
  • Discuss the limitations of internal control
  • Discuss roadmap to compliance

Training Audience: Audit committee members, CAEs, Internal Auditors, IT Auditors, Corporate Compliance, ERM.