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Critical New COSO Internal Control Framework Concepts (COS4)
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All successful entities, regardless of nature, size, and complexity, must have a well-designed and effectively operating system of internal controls over reliable financial reporting, in addition to managing other risks. This course will provide practical guidance on exactly what a sound system of internal controls Ðlooks likeÓ and the resulting impact on the reliability of financial statements, particularly for smaller entities.

 Export to Your Calendar 12/14/2017
When: 11:00 AM to 2:30 PM
Where: Webinar/Webcast
United States
Contact: April Deneault
801-466-9828


Online registration is available until: 12/14/2017
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All successful entities, regardless of nature, size, and complexity, must have a well-designed and effectively operating system of internal controls over reliable financial reporting, in addition to managing other risks. This course will provide practical guidance on exactly what a sound system of internal controls Ðlooks likeÓ and the resulting impact on the reliability of financial statements, particularly for smaller entities.

  • Important differences between the 1992 version of the framework and the 2013 COSO guidance
  • Key components of internal control per the COSO Internal Control - Integrated Framework, and the significant role each plays in the design and operating effectiveness of internal control over reliable financial reporting
  • Evaluating design and implementation of an entity’s design on internal controls, including impact on risk of material misstatement in financial statements
  • Testing controls for operating effectiveness, including determining sufficiency and appropriateness of the nature, timing, and extent of control testing procedures
  • Special considerations when using outside service organizations
  • Key concepts of the Enterprise Risk Management that expands on internal control, providing a more robust and extensive focus of broader risk management
  • Explain the evolution of internal control concepts since the origination of the 1992 version of COSO’s Internal Control-Integrated Framework, including important new concepts contained in the updated 2013 version
  • Describe important internal control concepts related to evaluating the design, implementation and operating effectiveness of internal control over reliable financial reporting
  • Be familiar with a more extensive enterprise-wide risk management approach guided by COSO’s Enterprise Risk Management
  • Be familiar with practical implementation tips and examples

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