Critical New COSO Internal Control Framework Concepts Webinar

• 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

• 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