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Course Overview

Level:
Intermediate
Enrolled:
117
CERTIFICATION CREDITS (hover/touch for more information)
CPA
1.5 CPE
 

Certified Public Accountant

Continuing Education Credit:
1.5 CPE Credit
Field of Study:
Auditing
CPE Delivery Method:
Self-Study
Program Location:
Online
Program Level:
Basic
Prerequisites:
No advanced preparation or prerequisites are required for this course.
cpe/qas logo
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
1.5 Hours
 

Continuing Professional Development

Continuing Education Credit:
1.5 Hour
Field of Study:
Accounting
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
1.5 CE
 

Certified Management Accountant

Continuing Education Credit:
1.5 CE Credit
Field of Study:
Auditing
CE Delivery Method:
Self-Study
Program Location:
Online
Program Level:
Basic
Prerequisites:
No advanced preparation or prerequisites are required for this course.
CFE
1.5 CPE
 

Certified Fraud Examiner

Continuing Education Credit:
1.5 CPE Credit
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
1.5 CPE
 

Certified Government Financial Manager

Continuing Education Credit:
1.5 CPE Credit
Field of Study:
Accounting Principles And Standards
CPE Delivery Method:
Self-Study
Program Location:
Online
Program Level:
Basic
Prerequisites:
No advanced preparation or prerequisites are required for this course.
CIA
1.5 CPE
 

Certified Internal Auditor

Continuing Education Credit:
1.5 CPE Credit
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 Internal Auditor (CIA) CPE program.
CRMA
1.5 CPE
 

Certification in Risk Management Assurance

Continuing Education Credit:
1.5 CPE Credit
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
1.2 CE
 

Certified Treasury Professional

Continuing Education Credit:
1.2 CE Credit
Program Location:
On Demand/Online
Prerequisites:
No advanced preparation or prerequisites are required for this course.
cpe/qas logo

Approved for up to 1.2 CTP/CCM recertification credits by the Association for Financial Professionals
FP&A
1.2 CE
 

Certified Corporate Financial Planning & Analysis Professional

Continuing Education Credit:
1.2 CE Credit
Program Location:
On Demand/Online
Prerequisites:
No advanced preparation or prerequisites are required for this course.
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Approved for up to 1.2 FP&A recertification credits by the Association for Financial Professionals
CISM
1.5 CPE
 

Certified Information Security Manager Continuing Professional Education

Continuing Education Credit:
1.5 CPE Credit
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
1.5 CPE
 

Certified in Risk and Information Systems Control Continuing Professional Education

Continuing Education Credit:
1.5 CPE Credit
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
1.5 CPE
 

Certified Information Systems Auditor Certified Professional Education

Continuing Education Credit:
1.5 CPE Credit
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
1.5 CPE
 

Certified Identity and Security Technologist

Continuing Education Credit:
1.5 CPE Credit
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
1.5 CPE
 

Certified Red Flag Specialist

Continuing Education Credit:
1.5 CPE Credit
Critical Risk Domain:
Risk Assessments
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 new framework will become effective in December 2014.

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 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 related principles.

COSO 2013 maintains the same five components previously identified within the 1992 framework.  These include:

  • Control Environment
  • Risk Assessment
  • Control Activities
  • Information & Communication
  • Monitoring

This session is designed to focus on the Risk Assessment component and the four separate principles that support this component. 

Risk Assessment involves a dynamic and iterative process. It considers changes in the external environment/business model that may impede achievement of objectives.  Every entity faces a variety of risks from both internal and external sources.  Risk assessment forms a basis by which risk will be managed.

  • The organization must specify objectives with sufficient clarity to enable the identification of risks relating to the objective. 
  • The organization identifies risks to the achievement of its objectives across the entity and analyzes risks as a basis for determining how the risks should be managed.
  • The organization considers the potential for fraud in assessing risks to the achievement of objectives.
  • The organization identifies and assesses changes that could significantly impact the system of IC.

Management and the external auditors must understand each of these principles and be able to adequately support that they exist and are appropriately designed and functioning.  In addition, the components must effectively work in combination to provide for a positive attestation to internal controls.

The session will dissect the four principles and important concepts that companies need to understand and support in order to provide that the Risk Assessment principles are in place and functioning.  We will also discuss concepts related to mapping the principles to controls within the organization.

This course is part of a series of courses: 

COSO 2013 Framework Requirements & Implementation Overview 
COSO 2013 Control Environment Compliance 
COSO 2013 Risk Assessment Compliance (This Course)
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

Learning Objectives

  • Defining Risk Assessment component for COSO 2013
  • Examining the four principles supporting the risk assessment component.
  • Articulation of the 32 Points of focus that supports the four principles of the risk assessment component.
  • Utilizing these points of focus most efficiently in your transition process.
  • Design of principles vs. execution – understanding the critical difference.
  • How the Risk Assessment component connects to the other four components of COSO.

22 ReviewsReviews

4
Anonymous Author
Another great course by Lynn. Great reminder that the risk assessment is not something which can be done once and then forgotten. It must be an iterative process which is constantly being updated with changes in the external environment and in a company's business model.
5
Anonymous Author
I love Lynn's classes, very organized and informative. Good job Lynn
5
Member's Profile
Great course, highly recommended
5
Anonymous Author
Good reference source
3
Anonymous Author
Not as clear in the materials to retain subject lesson.
4
Member's Profile
Great detail on the POF and surrouding details on COSO risk assessments.
4
Member's Profile
A tough subject made much easier to comprehend through incremental learning and great real-life examples.
5
Anonymous Author
Very detail information.
3
Anonymous Author
x
5
Member's Profile
I particularly liked the explanations in detail of this complicated area.
5
Anonymous Author
great information
5
Member's Profile
great overview.
5
Anonymous Author
l like learn about this course and subject We will follow full courses for an intense love thank you very much
5
Member's Profile
Very comprehensive presentation.
4
Anonymous Author
Good
4
Member's Profile
Good
5
Member's Profile
Very interesting information on Risk.
5
Member's Profile
The points of focus combined with the COSO principles solidifies the underlying concepts of a risk assessment process well. Thanks for structuring the course accordingly!
5
Anonymous Author
Very thorough and well presented.
5
Member's Profile
Good course
4
Anonymous Author
It was a very good course
5
Anonymous Author
good course

1 CurriculumCurricula & Certifications

Curricula are groups of courses that, taken together, define an area of expertise or of corporate finance practice.

Prerequisites

Prerequisite: Exposure to risk management

 

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
Risk Assessment Principles and Components
  14:52Principles and Components of Risk Assessment
  16:04A Closer look at Principle 6
  8:28A Closer Look at Principle 7
  10:05A Closer Look at Principle 8
  8:38Principle 9 and Course Summary
Continuous Play
  1:02:563 COSO 2013 Risk Assessment Compliance
SUPPORTING MATERIALS
  PDFSlides: Risk Assessment
  PDFRisk Assessment Glossary/Index
BONUS MATERIAL
  PDFBonus Material: "The Walls of Governance"
  PDFBonus Material: "ERM"
REVIEW & TEST
  quizREVIEW QUESTIONS
 examFINAL EXAM