Free to IIA Members

No CPE will be awarded for this event.

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In November 2010, the Committee of Sponsoring Organizations of the Treadway Commission (COSO) announced a project to review and update the 1992 Internal Control - Integrated Framework. COSO’s goal in updating the framework is to increase its relevance in the increasingly complex and global business environment so that organizations worldwide can better design, implement, and assess internal control. COSO believes this Framework will provide organizations significant benefits – for example, increased confidence that controls mitigate risks to acceptable levels and by providing reliable information supporting sound decision-making.

The updated framework builds on the cores concepts developed in the original and includes changes pertaining to the application of these concepts that could impact how companies: 

• Design, implement, and test internal controls.
• Report to regulators (e.g., SOX 404, 52-109).
• Other project objectives.
• Adding more focus on operational and compliance control objectives.
• Explicitly identifying principles and attributes to provide efficiency and a basis for evaluating effectiveness.

The AICPA and IIA are pleased to be hosting a joint Webinar that will provide formal presentations on the update as well as a panel discussion with subject matter experts on the exposure draft. During the Webinar, attendees will hear directly from members of the COSO board and the update taskforce, who will speak to:

• The project overview and the process.
• An overview of proposed changes.
• Examination of these changes and their impact on businesses and internal audit.