COSO's Internal Control Framework Essentials - Greater Washington Society of CPAs

Overview

COSO framework overview

Gain an overview of COSO’s internal control framework comprising five components and their related principles. Learn how to evaluate the control environment, risk assessment, control activities, information and communication, and monitoring activities at your or your client’s entity.
Through real-life examples, enhance your understanding of how to apply the framework as it relates to financial reporting whether you are an auditor or entity management.

Highlights

Components and principles of internal control

Concepts associated with the COSO framework

Management responsibilities versus auditor responsibilities

Common significant accounting processes

Tools and techniques used for internal control documentation

Prerequisites

None

Designed For

Financial statement auditors

Internal auditors

Entity management involved in financial statement audits

Objectives

Recall key points related to the components of internal control and related principles and points of focus.
Identify applicable professional standards that address each component of internal control.