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Course Overview

Level:
Intermediate
Enrolled:
199
CERTIFICATION CREDITS (hover/touch for more information)
CPA
1 CPE
 

Certified Public Accountant

Continuing Education Credit:
1 CPE Credits
Field of Study:
Auditing
CPE Delivery Method:
Self-Study
Program Location:
Online
Program Level:
Basic
Prerequisites:
This is the beginning overview course for individuals to gain a baseline understanding of the new requirements of COSO 2013 and how they compare to COSO 1992. Individuals should have a basic understanding of the COSO framework, COSO organization and its application of use.
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Proformative 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.learningmarket.org.

NASBA Sponsor Number: 109504
State of New York Sponsor Number: 002746
State of Texas Sponsor Number: 009890
CPD
1 Hour
 

Continuing Professional Development

Continuing Education Credit:
1 Hours
Field of Study:
Auditing
CPE Delivery Method:
Self-Study
Program Location:
Online
Your specific provider of Continuing Professional Development accreditation has final authority on the acceptance of individual courses for CPD credit.
CMA
1 CE
 

Certified Management Accountant

Continuing Education Credit:
1 CE Credits
Field of Study:
Auditing
CE Delivery Method:
Self-Study
Program Location:
Online
Program Level:
Basic
Prerequisites:
This is the beginning overview course for individuals to gain a baseline understanding of the new requirements of COSO 2013 and how they compare to COSO 1992. Individuals should have a basic understanding of the COSO framework, COSO organization and its application of use.
CFE
1 CPE
 

Certified Fraud Examiner

Continuing Education Credit:
1 CPE Credits
Field of Study:
Financial Transactions and Fraud Schemes
CPE Delivery Method:
Self-Study
Program Location:
Online
Program Level:
Basic
Prerequisites:
No advanced preparation or prerequisites are required for this course.
CGFM
1 CPE
 

Certified Government Financial Manager

Continuing Education Credit:
1 CPE Credits
Field of Study:
Internal Control And Internal Control Assessment
CPE Delivery Method:
Self-Study
Program Location:
Online
Program Level:
Basic
Prerequisites:
No advanced preparation or prerequisites are required for this course.
CIA
1 CPE
 

Certified Internal Auditor

Continuing Education Credit:
1 CPE Credits
Field of Study:
Auditing and accounting
CPE Delivery Method:
Self-Study
Program Location:
Online
Program Level:
Basic
Prerequisites:
This is the beginning overview course for individuals to gain a baseline understanding of the new requirements of COSO 2013 and how they compare to COSO 1992. Individuals should have a basic understanding of the COSO framework, COSO organization and its application of use.
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Proformative is a recognized CPE provider, authorized by the Institute of Internal Auditors for use in the Certified Internal Auditor (CIA) CPE program.
CRMA
1 CPE
 

Certification in Risk Management Assurance

Continuing Education Credit:
1 CPE Credits
Field of Study:
Auditing and accounting
CPE Delivery Method:
Self-Study
Program Location:
Online
Program Level:
Basic
Prerequisites:
No advanced preparation or prerequisites are required for this course.
IIA CPE Provider Seal


Proformative is a recognized CPE provider, authorized by the Institute of Internal Auditors for use in the Certified Risk Management Assurance (CRMA) CPE program.
CTP
1 CE
 

Certified Treasury Professional

Continuing Education Credit:
1 CE Credits
Program Location:
On Demand/Online
Prerequisites:
No advanced preparation or prerequisites are required for this course.
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Approved for up to 1 CTP/CCM recertification credit by the Association for Financial Professionals
FP&A
1 CE
 

Certified Corporate Financial Planning & Analysis Professional

Continuing Education Credit:
1 CE Credits
Program Location:
On Demand/Online
Prerequisites:
No advanced preparation or prerequisites are required for this course.
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Approved for up to 1 FP&A recertification credit by the Association for Financial Professionals
CISM
1 CPE
 

Certified Information Security Manager Continuing Professional Education

Continuing Education Credit:
1 CPE Credits
Job Practice Area:
Information Security Governance
CPE Delivery Method:
Self-Study
Program Location:
Online
Your specific provider of Continuing Professional Education accreditation has final authority on the acceptance of individual courses for CPE credit.
CRISC
1 CPE
 

Certified in Risk and Information Systems Control Continuing Professional Education

Continuing Education Credit:
1 CPE Credits
Job Practice Area:
Risk Identification
CPE Delivery Method:
Self-Study
Program Location:
Online
Your specific provider of Continuing Professional Education accreditation has final authority on the acceptance of individual courses for CPE credit.
CISA
1 CPE
 

Certified Information Systems Auditor Certified Professional Education

Continuing Education Credit:
1 CPE Credits
Job Practice Area:
Governance and Management of IT
CPE Delivery Method:
Self-Study
Program Location:
Online
Your specific provider of Continuing Professional Development accreditation has final authority on the acceptance of individual courses for CPD credit.
CIST
1 CPE
 

Certified Identity and Security Technologist

Continuing Education Credit:
1 CPE Credits
Critical Risk Domain:
Strategy and Analysis
CPE Delivery Method:
Self-Study
Program Location:
Online
Your specific provider of Continuing Professional Development accreditation has final authority on the acceptance of individual courses for CPD credit.
CRFS
1 CPE
 

Certified Red Flag Specialist

Continuing Education Credit:
1 CPE Credits
Critical Risk Domain:
Identity Theft Overview
CPE Delivery Method:
Self-Study
Program Location:
Online
Your specific provider of Continuing Professional Development accreditation has final authority on the acceptance of individual courses for CPD credit.
 

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.

The big four public accounting firms are beginning to assess how COSO 2013 will impact their internal control over financial reporting requirements.  The PCAOB has indicated that they want auditors to take a fresh look at processes and not defer to a checklist approach.  The firms are developing their own procedures, however, companies must determine their own compliance requirements and efforts.

The new framework will become effective in December 2014.  Professionals must first 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 course will provide 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.

This course is part of a series of courses:

COSO 2013 Framework Requirements & Implementation Overview (This Course)
COSO 2013 Control Environment Compliance
COSO 2013 Risk Assessment Compliance
COSO 2013 Control Activity Compliance 
COSO 2013 Requirements for Complying with the Information & Communication Component
COSO 2013: Requirements for Complying with the Monitoring Component of COSO

 

Intro Video Transcript

As an introduction we're going to talk a little bit about internal control. We all think we know what internal control is, right? As auditors or compliance professionals, internal control is one of those things that we normally think about. But from a management prospective, oftentimes it's thought of in tasks or steps. So the new COSO really stresses the importance of management consideration and management processes within internal control. And that's what we are going to discuss a little bit today. Managements will really going to have to re-evaluate their current processes and understand what things that they may need to adjust to comply with COSO 2013.

On today's agenda, we're going to talk a little bit about internal control: what and why. We'll talk a little bit about the various criticalities of internal control, the underlying principles between COSO 2013 and how they differentiate between COSO '92. And we're also going to talk a little bit about what we call points of focus. We'll go over those a little bit later.

At the end there is going to be a segment on performing kind of a transition session for your process and determining what you need to do to appropriately transition to COSO 2013.

Post this webinar, you will have the opportunity to view five additional segments that will drill doubt into the individual components of COSO and provide you a little bit more thought and brain storming aspects into what might be important in those areas.

Learning Objectives

  • Gain a firm understanding of the criticality of internal control, COSO and management’s responsibility
    • Identify key benefits and challenges of framework changes
  • Examine concepts of the basic framework and identify the key changes between COSO 1992 and COSO 2013
  • Undertstand the requirements for implementing COSO 2013 and the 17 principles and related points of focus
  • Learn how to perform a needs impact assessment and transition plan for your organization

32 ReviewsReviews

4
Member's Profile
Good review in depth of the topic. Helps to understand the evolution of COSO to what we're implementing today.
5
Anonymous Author
Excellent course which explained the differences between COSO 1992 and COSO 2013. Nicely laid out reference materials. I like the way that Lynn listed the steps needed for the transition plan in an easy to understand manner.
5
Anonymous Author
Great overview, very informative.
5
Anonymous Author
Great info on COSO FR&IO
5
Member's Profile
Great overview! I can now talk intelligently with our Chief Audit Officer about what is changing and what stays the same, and how to apply the 17 principles.
3
Member's Profile
Course provides good background information for context to COSO as well as comparison to 1992 and 2013 COSO framework.
5
Member's Profile
Excellent overview of the latest update to COSO
5
Anonymous Author
It's going to help when my company set up internal controls.
3
Anonymous Author
x
3
Member's Profile
3/5
5
Member's Profile
Good information...
4
Anonymous Author
Good course!!
5
Anonymous Author
good introduction
5
Anonymous Author
Great high level overview of changes in the framework.
5
Anonymous Author
Nice organization of content.
5
Member's Profile
Great compare and contrast COSO 1992 versus COSO 2013.
4
Anonymous Author
Good
4
Member's Profile
Good
5
Anonymous Author
A very high quality course and materials that far exceeds the cost. I'd recommend the course and overall service to others.
4
Member's Profile
great concise summary, good flow of information
5
Member's Profile
Thanks for putting together a great overview of the COSO 2013 framework. This definitely increases my appreciation for internal controls including SOX compliance.
5
Anonymous Author
This was good, basic overview of the COSO 2013 updates. Would recommend to anyone new to the COSO requirements.
5
Member's Profile
Great overview.
5
Member's Profile
Very good overview of COSO2013
4
Anonymous Author
It was a very good course
5
Anonymous Author
Thanks for the update on the COSO 2013 framework. Decent course!
5
Anonymous Author
good course
5
Member's Profile
Excellent introduction to COSO 2013. I really enjoyed this course, as it provided solid overview of Internal Control and COSO 1992, contrasted with the new concepts and requirements of COSO 2013.
5
Member's Profile
Very good course
4
Member's Profile
The course provided enough specifics to enhance comprehension of material covered.
4
Anonymous Author
Good overview and provides an understanding of the key elements and changes.
5
Anonymous Author
Great course!

2 CurriculaCurricula & Certifications

Prerequisites

Prerequisite: Exposure to risk management

  • This is the beginning overview course for individuals to gain a baseline understanding of the new requirements of COSO 2013 and how they compare to COSO 1992.
  • Individuals should have a basic understanding of the COSO framework, COSO organization and its application of use. 

Advanced Preparation: None

Education Provider Information

Company:
Proformative, Inc., 99 Almaden Blvd, Suite 975, San Jose, CA 95113
Contact:
For more information regarding this course, including complaint and cancellation policies, please contact our offices at (408) 400- 3993 ext. 106, or send an e-mail to .
Course Syllabus
INTRODUCTION AND OVERVIEW
Implementation Requirements
  9:11Internal Control
  16:31Concepts of Basic Framework
  15:53Keys to COSO 17 Priciples
  9:10Need for a Impact and Transition Plan and Course Summary
Continuous Play
  53:341 COSO 2013 Framework Requirements & Implementation Overview
SUPPORTING MATERIALS
  PDFSlides: Implementation Requirements
  PDFImplementation Requirements Glossary/Index
REVIEW & TEST
  quizREVIEW QUESTIONS
 examFINAL EXAM