Using COSO for Compliance & SOX Training Course About this Event COSO Three-Day CPE Course Join us for a unique, interactive workshop that walks you through the latest update of the Internal Control Integrated Framework (ICIF 2.0) of the Committee of Sponsoring Organizations of the Treadway Commission (COSO). This course is for business professionals who work for public corporations that are required to comply with the Sarbanes-Oxley Act (SOX), as well as non-public organizations. Our comprehensive training is for anyone in audit, compliance, accounting, information technology, etc. who wants to obtain a solid understanding of the COSO internal controls that help organizations reduce risk. We present the roadmap to COSO compliance and documentation based on textbook approaches and real-world guidance from our client engagements. Each attendee will go home with a set of 36 documents that were used to create the workshop. Relax, learn and enjoy through expert instructor presentations, group discussions, role-playing, audit and compliance exercises, white-board diagramming and simulations. Benefits of Attending This course, offered by the leading authority in the COSO Internal Control Framework, Corporate Compliance Seminars (CCS), moves the participants thru the COSO framework and covers how to design, implementation, and maintenance of a successful internal control system. This principles-based course, in a live classroom, encourages participants to think about the COSO Framework in terms of their own entities while covering a variety of topics including types of objectives, components of internal control, principles and points of focus, roles and responsibilities, and limitations of internal control. Seminar Highlights - Top Down risk-based Approach Defined - Best Practices to Control Environment Documentation and Assessment - Entity Level Control Documentation - Risk Assessment Documentation - How to Manage Communication with External Auditors and Audit Committee - Workshops focused on Major Deliverables Learning Objectives - Attendees will understand top down assessments and their application - Attendees will learn the compliance requirements of the Sarbanes-Oxley Act - Attendees will discuss relationship with their external auditors under Audit Standard 5 - Attendees will identify methods for improving their internal control frameworks Key Issues on the Agenda Introductions Section 1 - Introduction and Overview - About Us and About Your Instructor - Who are You? What are Your Needs? - Overview of Agenda Tailored to Your Needs Section 2 - History Lesson - What is Internal Control and Why Are Controls So Important? - What is Risk? Can Risk Be Managed? - Background of Internal Control Legislation - Regulatory Requirements from the SEC, PCAOB and Others - History of the COSO Committee Section 3 - The COSO ICIF: Then and Now - Why was the COSO ICIF Developed? - The Original Framework - What Happened to Prompt the Update? - The Current Framework Section 4 - Compliance Methodologies - Control-Based - Coverage-Based - Risk-Based - Case Studies - Discussion of Preferred Methods Section 5 - Sarbanes-Oxley Act - What Happened in Year 2000? - The Details of the SOX Act - Compliance Requirements - Whistleblower Activity - Benefits of SOX Compliance Section 6 - The Watchdog: PCAOB - Who are They and why were They formed? - The PCAOB Perspective - Enforcement Action - Dealing with External Auditors - PCAOB Alerts Section 7 - COSO Control Environment - What is Your Tone of Control - The Influence of Entity Controls Section 8 - COSO Risk Assessment - Guidance from COSO ERM - Defining, Documenting and Assessing Risk Section 9 - COSO Control Activities - What are Control Activities? - The Seven Layers of Control - Testing and Documenting the Controls - The Design of Controls - The Operation of Controls - Assessing the Effectiveness of Controls Section 10 - COSO Information and Communication - What Gets Communicated? When? To Whom? - Up, Down and Outside the Organization Section 11 - COSO Monitoring Activities - What Should Be Monitored? When? How? Who? - Case Studies Section 12 - Planning the COSO Compliance Assessment - Project Management Methodologies - Defining Your Risks - Assessing Risk in Your Organization - Determining the Risk Response - Documenting the Plan Section 13 - Performing the Assessment - Assessing Entity Level Controls - Assessing Process Level Controls - Assessing IT General Controls - Assessing the Segregation of Duties - Internal Control Testing - Sampling Techniques - Documentation Examples Section 14 - Concluding the Assessment - Evaluating Internal Control Deficiencies - What is the Severity? - CAPs and Accountability - Remediation Activity - Re-Testing - Opining - Summarizing for Executives and Boards Section 15 - Documentation - Control and Compliance Self-Assessments - The Maturity Model - How Do We Document COSO Compliance? - Client Examples Section 16 - Summary, Wrap-Up and Going Forward - Recap of COSO Compliance - Adjusting Compliance in Subsequent Years - Your Roadmap to Success! Corporate Compliance Seminars has been created by experts who enjoy providing CPE classroom training, workshops and consulting on internal controls, internal auditing and accounting related subjects. We have focused on SOX, COSO, PCAOB, COBIT, GRC, IFRS, AICPA, GAO and IIA Standards. Our programs are CPE for professionals with CPA, CGA, CIA, CFE, CISA, CMA and CA designations. Corporate Compliance Seminars presents CPE to auditors, compliance and IT professionals, Boards of Directors and Audit Committees. We examine the details of risk management, Sarbanes-Oxley Act compliance, Model Audit Rule compliance, auditing, internal controls, IT security and compliance, and fraud prevention and detection. Corporate Compliance Seminars allows the attendee to earn Official NASBA CPE credit. Our seminars focus on the details of the Sarbanes-Oxley Act of 2002 (SOX), Internal Controls over Financial Reporting (ICFR), Committee of Sponsoring Organizations of the Treadway Commission (COSO) Internal Control Frameworks, ISACAs Control Objectives over Information Technology (COBIT), Information Technology Infrastructure Library (ITIL), Open Compliance & Ethics Groups (OCEG) Governance, Risk & Compliance (GRC) methodology, PCAOBs Auditing Standard 5 (AS5), AICPA auditing standards and the future conversion from GAAP to the International Financial Reporting Standards (IFRS). Our seminars provide CPE for the CPA, CFE, CIA, CISA, auditors and others with effective and engaging training.
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