Webcast: An Overview of the COSO Internal Control Framework (XCOCCFW17)
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The most-prominent internal control framework used in business today is the one outlined by the Committee of Sponsoring Organizations of the Treadway Commission (COSO). This model, updated in 2013, defines internal control processes. This framework sets forth fundamental concepts that explain the importance of three categories of control objectives and defines five key components of Internal Control. Examine the COSO framework's key elements and understand how they work together to create a stro

10/25/2017
When: 10/25/2017
12:00 PM until 2:00 PM
Where: Webcast
CALCPA
4173300Z
United States
Presenter: Karl Egnatoff, CPA


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Acronym XCOCCFW17
CPE 2 hours
Vendor CalCPA
Category
Accounting & Auditing
Level Intermediate
Prerequisite An understanding of basic internal control principles.
Adv Prep None
Yellow Book? No
Designed for Accounting and other business professionals that would like to have an understanding of the most utilized internal control framework.
Registration
Member $60
CPA Non-Member $94

The Member rate applies to LCPA members, other state society members, and non-CPA staff of LCPA members. To register online, use the ‘Register’ button above. To register by phone, call the LCPA Member Service Center at 800.288.5272 or 504.464.1040, Monday through Friday, 8am to 5pm.

Course Description

The most-prominent internal control framework used in business today is the one outlined by the Committee of Sponsoring Organizations of the Treadway Commission (COSO). This model, updated in 2013, defines internal control processes. This framework sets forth fundamental concepts that explain the importance of three categories of control objectives and defines five key components of Internal Control. Examine the COSO framework's key elements and understand how they work together to create a strong system of internal control.

Materials are provided as an ebook for this course.

Objectives

  • List the five key components of internal control
  • Understand key internal control concepts, including the four types of internal control: preventive, detective, deterrent and compensating
  • Explain how controls fit into the management structure of organizations
  • Explain the importance of the control environment

Major Topics

This session uses case studies adapted from real-world examples. Topics include:

  • COSO Model Components
  • Understanding the importance of Control System Structure
  • An Overview of Control Objectives and Types