COSO INTERNAL CONTROL FRAMEWORK

Trainings

COSO INTERNAL CONTROL FRAMEWORK

Course Overview

Category: Audit
Duration: 4 Days
Price: EGP 3000
Level: Intermediate

This four-day, advanced course will give participants a detailed overview of the role and intersections of Internal Control for organizations in today’s rapidly evolving business environment.

Internal control is a process, effected by an entity’s board of directors, management, and other personnel, designed to provide reasonable assurance regarding the achievement of objectives relating to operations, reporting, and compliance.

COSO INTERNAL CONTROL

KEY TAKEAWAYS

Understand the main objectives and concepts of Internal control.

Defines internal control as a process.

Recognizes that internal control is affected by people.

Provides reasonable assurance.

Considers the big (entity) and little (activity) pictures.

Identifies root causes.

COSO INTERNAL CONTROL FRAMEWORK

TRAINING METHODOLGY

Professional facilitators carry out our training with well-developed group and classroom management skills in a noncritical environment, which encourages individuals to practice skills that are being taught. We do not sit individuals down and talk through a stack of PowerPoint slides; we engage them and discuss core ideas and concepts to bring their ideas and energy out, cementing the regulatory and commercial principles we are promoting in their mind. We do not focus on an unattainable set of KPIs, but rather achievable principles that can be readily utilized, adapted, and developed in an everyday working environment.

Discussion points and simulations, aligned with a structured training plan and real-life scenarios, allow individuals to develop the skills necessary for success. Handbooks will be used, but individuals are encouraged to make use of the sessions to take their own notes, practicing the vital audio, visual and kinesthetic skills which are vital in their role, learning how to process and store information which the will later be required to recall.

WHO SHOULD ATTEND?

Internal Control Officers

Risk Professionals

Compliance Officers

Internal Auditors

Financial Controllers

Governance Officers

Senior Managers

Chief Officers

Directors & Board Members

Audit Committee Members

COSO Enterprise Risk Management Framework

COURSE CONTENT

MODULE 1: Control Definitions

- Defining Control Environment.
- Defining Control.
- Defining Control Process.
- Defining Internal Control.

MODULE 2: Control Categories

- Preventive Controls.
- Detective Controls.
- Directive Controls.
- Corrective Controls.

MODULE 3: COSO Internal Control Integrated Framework Decomposition

- COSO - Internal Control Integrated Framework.
- The Framework 3 control objectives.
- The Framework 5 components.
- The Framework 17 Principles.
- The Framework 75 Focus Points.

MODULE 4: Control Environment

- Demonstrates commitment to integrity and ethical values.
- Exercises oversight responsibility.
- Establishes structure, authority and responsibility.
- Demonstrates commitment to competence.
- Enforce accountability.

MODULE 5: Risk Assessment

- Specifies suitable objectives.
- Identifies and analyzes risk.
- Assesses fraud risk.
- Identifies and analyzes significant change.

MODULE 6: Control Activities

- Select and develops control activities.
- Select and develops general controls over technology.
- Deploys through policies and procedures.

MODULE 7: Monitoring Activities

- Select and develops control activities.
- Evaluates and communicates deficiencies

MODULE 8: Information and Communication

- Uses Relevant Information.
- Communicates Internally.
- Communicates externally.

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COSO INTERNAL CONTROL FRAMEWORK