Understanding the COSO Internal Controls Framework
Coming soon to the OnDemand Library in Late Summer 2024
Course Description
The COSO Internal Controls Framework has been voluntarily adopted by internal audit organizations around the globe for nearly two decades to help them create, develop, mature, and continuously improve their systems of internal controls. According to COSO, the Committee of Sponsoring Organizations of the Treadway Commission, updated the framework in 2013 to “focus on five integrated components of internal controls: control environment, risk assessment, control activities, information and communication, and monitoring activities”.
This self-study course, which is based on the COSO Cube, will help internal auditors gain a foundational understanding of the components and principles of internal controls.
Who will benefit from this course?
This course will benefit internal auditors at all levels, audit managers, compliance personnel, and all others desiring to gain a basic understanding of the COSO Internal Controls Framework 2013.
Learning Objectives
- Obtain a basic understanding of the COSO Internal Controls Framework 2013.
- Identify the five components of the COSO Internal Controls Framework.
- Recall the seventeen principles of the COSO Internal Controls Framework.
- Explore how the principles may be used to create audit procedures / user stories.