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It's been more than 20 years since the Committee of Sponsoring Organizations of the Treadway Commission (COSO) released its Internal Control—Integrated Framework (the original framework). The new framework became effective in December 2014. Professionals must first obtain a basic understanding of the concepts, principles and potential impact, including changes from the 1992 framework and the key COSO components and related principles.

COSO 2013 maintains the same five components previously identified within the 1992 framework.  These include:

  • Control Environment
  • Risk Assessment
  • Control Activities
  • Information & Communication
  • Monitoring

Each component is now defined by separate principles that underlie the component.  Management and the external auditors must understand each of these principles and be able to adequately support that they exist, are appropriately designed and functioning.  In addition, the components must effectively work in combination to provide for a positive attestation to internal controls.

The Control Environment is defined as the overall attitude, awareness and actions of directors and management (i.e. "those charged with governance") regarding the internal control system and its importance to the entity.  The Control Environment is named as the first component within COSO 2013.

This course is designed to focus on the Control Environment and the five separate principles that support this component. 

  1. The organization demonstrates commitment to integrity and ethical values.
  2. The Board maintains independence from management and exercises oversight of internal control.
  3. Management establishes structure, reporting lines, and appropriate authority and responsibility.
  4. The organization demonstrates commitment to attract, develop and retain competent individuals.
  5. The organization holds individuals accountable for internal control responsibilities.

Course Series

This course is included in the following series:

7 CoursesCOSO 2013

  1. COSO 2013 Framework Requirements and Implementation Overview
  2. COSO 2013 Control Environment Compliance
  3. COSO 2013 Risk Assessment Compliance
  4. COSO 2013 Control Activity Compliance
  5. COSO 2013 Requirements for Complying with the Information and Communication Component
  6. COSO 2013 Requirements for Complying with the Monitoring Component of COSO
  7. Moving COSO to Operationalization Stage

Learning Objectives

  • Defining the Control Environment for COSO 2013
  • Examine the five principles supporting the control environment.
  • Discuss points of focus that support the five principles of the control environment and how to utilize these points of focus most efficiently in your transition process.
  • Design of principles vs. execution – understanding the critical difference.
  • How the control environment sets the “tone” for the remaining components.

 

Included In Certifications

This course is included in the following Expert Certifications:

15 CoursesCertified Expert in Ethical Leadership

  1. History of Ethics
  2. Psychology Behind Ethics: Part 1
  3. Psychology Behind Ethics: Part 2
  4. COSO 2013 Control Environment Compliance
  5. Corporate Ethics
  6. Managing Through Corporate Politics
  7. Real World Business Ethics Scenarios
  8. Relationship between Ethics, Morality, and the Law
  9. Impact of Ethics on Leadership
  10. Traits and Skills of the Ethical Leader
  11. Framework for Ethical Decision Making
  12. Keys to an Effective Code of Conduct
  13. Keys to Understanding Conflicts of Interest
  14. When The Whistle Blows Part 1: History, Regulations, and Concepts
  15. When The Whistle Blows Part 2: Managing Whistleblower Hotlines

52 Reviews (185 ratings)Reviews

4
Member's Profile
Great review and refresher on internal controls and its importance in the success of a company.
5
Anonymous Author
Excellent overview of the COSO 2013 Control Environment principles. I really liked Lynn's statement: "In the early years,companies focused more on the design,documentation and testing of financial controls. Evaluation of the Control Environment was often a secondary consideration." I have found this to be the case in the company that I previously worked at.
4
Member's Profile
Good material with a knowledgeable instructor. Only critique would be to use specific examples from failures to demonstrate how the control environment was a major factor in the failure. I keep thinking about Andy Fastow from Enron.
5
Member's Profile
I felt the first question in the quiz was a trick question. "Which of the following is not an attribute or definition of the control environment?" The question should be reworded to better represent what is being asked.
5
Member's Profile
Ms. Fountain is a very knowledgeable specialist. Excellent training, very well rounded, clear, concise, useful. Lots of ideas to apply in the company. Excellent. I will take more of Ms. Fountain courses.
5
Member's Profile
Another outstanding course. The legitimacy of the IA function is dependent on the knowledge of its practicing professionals. These course are a must for all audit personnel.
5
Anonymous Author
Very detailed course on control environment with practical examples. This provided very good information and background on control environment.
5
Anonymous Author
There are some good tips, made me critically reconsider current processes at my organization. Exam questions are quite challenging, I liked it.
4
Member's Profile
Helpful for anyone in finance or accounting but I think those in external and internal audit would specifically get the most from this course.
4
Anonymous Author
Great course providing professional insight regarding the complexities involved on evaluating an organization's control environment.
5
Anonymous Author
I didn't realize how dated the COSO Framework that I had been using previously was! Glad they updated. Thanks for the course.
5
Anonymous Author
A good set of steps to think about and follow. Great questions though hard to get answers to.
4
Member's Profile
This is a good course to get a refresher on COSO and its importance within an organization.
4
Member's Profile
Going deeper in to COSO 2013 than I ever thought I would want to know. Good class.
5
Anonymous Author
Easy to understand explanation of COSO 2013's Control Environment Requirement
4
Anonymous Author
Entire course was very organized and well explained by taking live examples.
5
Anonymous Author
great information on COSO control environment compliance. great examples.
4
Anonymous Author
Very informative. Easy to follow and relevant to my current duties.
5
Anonymous Author
Course was very informative and the presentation was well done.
4
Member's Profile
Excellent summary of the CE and its affect on an organization.
5
Member's Profile
Always great to learn from your perspective, Ms. Fountain!
5
Member's Profile
Solid overview of a very subjective component of COSO 2013
4
Anonymous Author
The materials were laid out in an easy to follow manner.
4
Anonymous Author
Good overview of the control environment component.
5
Anonymous Author
Thorough and clear explanation of the concepts!
4
Member's Profile
Good overview of COSO 2013 control environment
5
Anonymous Author
Another excellent course from Lynn Fountain
5
Anonymous Author
It was a good training. I learned a lot.
3
Member's Profile
Presenter style is not very energetic.
5
Anonymous Author
The instructor is very knowledgeable.
5
Anonymous Author
Lots of great information & examples
5
Member's Profile
The course is well presented!
5
Member's Profile
Some interesting perspectives
4
Member's Profile
Good overview of COSO 2013.
4
Anonymous Author
It was a very good course
Member's Profile
I enjoyed this course.
5
Anonymous Author
Good COSO discussion
5
Member's Profile
Excellent course
4
Member's Profile
Well thought out
4
Anonymous Author
Good course.
4
Member's Profile
Great course
4
Anonymous Author
Great course
4
Member's Profile
Good course
5
Anonymous Author
Very Good!!
4
Member's Profile
Very good.
5
Anonymous Author
Nice work.
5
Anonymous Author
god course
Anonymous Author
Nice job
5
Member's Profile
great!
4
Member's Profile
Good
Anonymous Author
45
Anonymous Author
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Prerequisites

Course Complexity: Intermediate

Prerequisite: Exposure to risk management

 

Advanced Preparation: None

 

Education Provider Information

Company:
Illumeo, Inc., 75 East Santa Clara St., Suite 1215, San Jose, CA 95113
Contact:
For more information regarding this course, including complaint and cancellation policies, please contact our offices at (408) 400- 3993 or send an e-mail to .
Course Syllabus
INTRODUCTION AND OVERVIEW
Control Environment Definition, Attributes, and Pr
  7:26Defining The Control Environment
  16:10Control Environment Attributes
  19:25Control Environment Principles 1 - 5
  5:43Mapping CE Principles
Conclusion
  8:37Methods of Evaluation and Course Summary
Continuous Play
  1:01:42COSO 2013 Control Environment Compliance Full Video
SUPPORTING MATERIALS
  PDFSlides: Control Environment
  PDFControl Environment Glossary/Index
Bonus Materials
  PDFBonus Material: "Controlling The Control Environment"
  PDFBonus Material: "When the Whistle Blows"
  PDFBonus Material: KSCPAs Newsletter
REVIEW & TEST
  quizREVIEW QUESTIONS
 examFINAL EXAM