COSO Integrated Guidance: Effective Internal Control for Successful Corporate Management
OVERVIEW
The new COSO framework was released in May
2013. Original compliance date was set as December 2014. Many companies are
still working towards compliance. This will turn up the focus on how its
guidance should be used by companies and auditors when evaluating processes for
Sarbanes-Oxley and other control requirements. Key aspects have been added to
mandate knowledge of business and regulatory changes as well as an increased
focus on information technology and its controls. It is imperative that
management, compliance professionals, legal professionals and audit
professionals all understand the roles and responsibilities incumbent upon them
when it relates to internal control. It is also imperative that management
learn and accept their critical role as it relates to the management and
monitoring of internal controls.
This training program will highlight theimportance of management’s role in instilling proper internal controls withintheir processes. Although the Sarbanes-Oxley Act made it abundantly clear those
internal controls is the responsibility of management, many companies still
view those processes as the responsibility of the auditors or quality assurance
individuals. The impending release of the new COSO Framework clearly outlines
the importance of understanding all aspects of internal control and ensuring
those elements are properly working together in an effective manner.
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| COSO Integrated Guidance |
WHY
SHOULD YOU ATTEND
All individuals involved in oversight,
management, monitoring and auditing processes within an organization will need
to heighten their awareness of basic controls and their link to corporate
strategies and regulatory and business requirements.
This webinar will explore methods to educate
management on their individual responsibilities for control processes and the
variance between a control malfunction and control design issues. Attendees
will be provided with talking points and tools to help management better
understand the term “internal control” and ensure they not only understand the
attestations they are making but also effectively execute on their obligations.
The program will also review the impending COSO changes and examine how they
may impact your organization.
AREAS
COVERED
- The reason internal control has
become a strategic focus for companies
- Overview of the impending new COSO framework release and its impact on companies
- Methods to educate management on
responsibilities for control processes and understanding the term
“internal control”
- Evaluating implications when
management does not pay attention to internal controls
- Key monitoring methods for
management to utilize when evaluating internal controls
- Review of the standardized SOX 302
and 404 sign-off processes and considerations for enhancement
WHO
WILL BENEFIT
- Board Members
- Management
- Risk and Legal Professionals
- Internal Auditors
- Compliance Professionals
- Process Improvement Professionals
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| Effective Internal Control |
LEARNING
OBJECTIVES
In today’s business world, the term, internal
control, is assumed to be a well-known and understood concept. Yet, with all
the regulations, attention and focus on the issue, control gaps continue to
pervade processes and result in a wide array of business failures and issues.
The issue has come to the forefront as the COSO Board is about to release the
revised version of the COSO 1992 internal control framework. Companies who
indicate they utilize the COSO framework for their evaluation processes will be
expected to employ the concepts imbedded in the current draft. Prior to
executing on that task, management must re-evaluate their position on internal
controls and how they employ the roles and responsibilities related to internal
control within their environments. This may be a significant task for many
companies and will include re-evaluation of their current compliance and
internal audit programs as well as the organizational alignment of these
functions.
For more detail please click on this below link:
Email: support@trainingdoyens.com
Toll Free: +1-888-300-8494
Tel: +1-720-996-1616
Fax: +1-888-909-1882
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