To help auditors evaluate control systems, a number of control frameworks have been developed by different organizations. The COSO Internal Control-Integrated Framework is the most dominant control model in the US. The COSO model has been adopted as the generally accepted framework for internal control and is widely recognized as the definitive standard against which organizations measure the effectiveness of their systems of internal control.
Program Registration:
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Learning Objectives:
The objective of this course is to provide an overview of the framework and to explain how it is applied at the entity and process or activity level. By the end of the course, the learner will be able to:
- Discuss the history surrounding how the COSO framework
- Identify the 3 COSO objectives
- Identify the 5 COSO components
- Apply the COSO framework at the entity level
- Apply the COSO framework at the process or activity level
Estimated Course Duration: 90 minutes (1.5 CPE)
Delivery Method: Online Self-Study
Field of Study: Auditing
Program Level: Overview
Advance Preparation/Prerequisites: None
Program Content:
What is COSO?
What is the Internal Control – Integrated Framework
- Objectives
- Entity-level and activity-level focus
- Five components
How is the COSO framework applied at the entity level?
- Company-level controls
- COSO attributes for each component
- COSO recommendations
How is the COSO framework applied at the activity or process level?
- Control activities
- Monitoring
- Risk assessment
- Control environment
- Information/ Communication
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In order to earn CPE credit, you must complete the training module within one year of enrollment and score 70% or above on the Final Exam.
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