PPT-An Update of COSO’s Internal Control–Integrated Framework

December 2011 Internal ControlIntegrated Framework First published in 1992 Gained wide acceptance following financial control failures of early 2000s Most widely used framework in the US Also widely used around the world. Internal Control–Integrated Framework. Table of Contents . COSO & Project Overview. Internal Control-Integrated Framework. Illustrative. . Documents. Illustrative Tools for Assessing Effectiveness of a System of Internal Control. Agenda:. Basics . of Internal Controls – what are they. ?. COSO framework . Practical applications to your current . processes. Facilitator: . Laura Williams. Updated February 2014. 2. Internal Control Basics. Chapter 7. 7-1. Learning Objectives. Explain basic control concepts and why computer control and security are important.. Compare and contrast the COBIT, COSO, and ERM control frameworks.. Describe the major elements in the internal environment of a company.. Presented By. William Blend, CPA, CFE. . Session Overview. Review the new COSO model on internal controls.. Discuss internal controls and their practical application. .. 2. Here We Go!. 3. 4. fraud highlights. Internal Control–Integrated Framework. December 2011. Internal Control-Integrated Framework. First published in 1992. Gained wide acceptance following financial control failures of early 2000’s. Most widely used framework in the US. Table of Contents . COSO & Project Overview. Internal Control-Integrated Framework. Illustrative. . Documents. Illustrative Tools for Assessing Effectiveness of a System of Internal Control. Internal Control over External Financial Reporting: A Compendium of Approaches and examples. Basics . of Internal Controls – what are they. ?. COSO framework . Practical applications to your current . processes. Facilitator: . Laura Williams. Updated February 2014. 2. Internal Control Basics. Institute of Internal Auditors. Long Island Chapter. Annual Information Technology Conference. Disclosures. The presentation assumes that attendees already have a basic understanding of COSO products and the 2013 update in particular.. Table of Contents . COSO & Project Overview. Internal Control-Integrated Framework. Illustrative. . Documents. Illustrative Tools for Assessing Effectiveness of a System of Internal Control. Internal Control over External Financial Reporting: A Compendium of Approaches and examples. November 26, 2013. Agenda. Framework background. Reasons for change. Timeline. Changes to the framework and its components. Accompanying Guidance and Illustrative Tools. Stakeholder perspectives. Considerations for transition. Key Drivers for an Effective Control Framework. Parallel to Government Control Requirements. DOE Framework and Contractor . Requirements. SEC/Public Company Requirements. COSO Framework Maturity Over Time. Chapter 7. 7. -1. Learning Objectives. Explain basic control . concepts. Compare and contrast the COBIT, COSO, and ERM control frameworks.. Describe the major elements in the internal environment of a company.. Valdosta State University. Office of Internal Audits. June 2016. 1. Presentation Overview. Understand Internal Controls. Identify Control Weaknesses. Fraud. Best Practices. 2. Internal Controls. How did this happen?. -. The . practice of . the European Commission’s Internal Audit Service . Mr Mirco . Barbero. . European . Commission, IAS.C1. The Internal Control Framework (ICF) in the European Commission (EC).