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Surgent's Key COSO Concepts: Managing Risk to Achieve Your Business Objectives (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 “looks like” and the resulting impact on the reliability of financial statements, particularly for smaller entities. In addition, we will explore COSO’s 2013 Internal Control - Integr

7/19/2018
When: 7:00 AM
Where: WEBINAR
SURGENT
COS4-2018-01-WEBNR-200-01
United States
Contact: April Deneault
8018346634


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Acronym COS4
CPE 4 hours
Category
Auditing
Level Intermediate
Vendor Surgent
Who should attend

Accountants both in public and private practice responsible for designing, evaluating, and/or monitoring internal controls over financial reporting

Prerequisite
Experience with designing, evaluating, or monitoring internal controls
Fees: Early Bird
Standard
Member N/A
$139
Non-Member: N/A
$167

The Member rate applies to UACPA members and reciprocal state society members. To register online, use the ‘Register’ button above. To register by phone, call the UACPA at 801.466.8022, Monday through Friday, 8am to 4pm.

Description 
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 “looks like” and the resulting impact on the reliability of financial statements, particularly for smaller entities. In addition, we will explore COSO’s 2013 Internal Control - Integrated Framework that is used to better manage the unique and challenging risks of today’s entities.

 

Major Topics

  • Important elements of the 2013 COSO guidance and how they can be applied to manage threats to an entitys ability to achieve its objectives
  • 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 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 <em>Enterprise Risk Management that expands on internal control, providing a more robust and extensive focus of broader risk management

Objectives

  • Explain the evolution of internal control concepts, culminating in the 2013 version of COSO Internal Control-Integrated Framework
  • 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 Enterprise Risk Management
  • Be familiar with practical implementation tips and examples

 

 

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