1.5 CPE 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.
- The organization demonstrates commitment to integrity and ethical values.
- The Board maintains independence from management and exercises oversight of internal control.
- Management establishes structure, reporting lines, and appropriate authority and responsibility.
- The organization demonstrates commitment to attract, develop and retain competent individuals.
- The organization holds individuals accountable for internal control responsibilities.
“Citations of information on the COSO framework, principles and points of focus mentioned through this course are directly worded from the COSO literature and relayed here with the permission of COSO.org as a training mechanism related to their framework. The full document of the Framework can be found at COSO.org”
Course Series
This course is included in the following series:
7 CoursesCOSO 2013
- COSO 2013 Overview
- COSO 2013 Control Environment
- COSO 2013 Risk Assessment
- COSO 2013 Control Activity
- COSO 2013 Information and Communication
- COSO 2013 Monitoring
- COSO 2013 - Operational Execution
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.
Last updated/reviewed: August 23, 2023
Included In Certifications
This course is included in the following Certification Programs:
13 CoursesEthical Leadership Certification
- History of Ethics
- Ethics and the Psychology Behind the Concept - Part 2
- COSO 2013 Control Environment
- Today’s Corporate Ethical Culture - An updated course
- Managing Through Corporate Politics
- Real World Business Ethics Scenarios
- Relationship between Ethics, Morality, and the Law
- Impact of Ethics on Leadership
- Framework for Ethical Decision Making
- Keys to an Effective Code of Conduct
- Keys to Understanding Conflicts of Interest
- Whistleblower Hotlines - History and Regulations
- Whistleblower Hotlines - Effective Management
75 Reviews (299 ratings)
Reviews
Anonymous
(Independent Financial Consultant)
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.
Anonymous
()
Very comprehensive and informative content
The instructor explained all topics in the course in easy and friendly manner
I highly recommend this course to everyone who seeks cybersecurity course or to fulfill isaca cpe for isca certifications.
Many thanks to illumeo
All your courses are excellent and comprehensive in all fields.
Anonymous
(CPA)
Another solid course in the COSO 2013 series focusing on the examination of the principles and POF underlying the functioning of an effective internal control environment. Very effective presentation of all of the various factors that need to be considered in evaluating any company's internal control structure.
Anonymous
()
It was very helpful to have the more in-depth discussion on this COSO component. The instructional time was just enough for me to learn without becoming distracted. Thank you! The bonus materials were informative as well. Overall, I appreciated the course.
Philip Lavietes
(President at PDL Associates LLC)
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.
Wayne Sutherland
(N/a at N/a)
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.
Antonio Crawford
(Senior Internal Auditor - Budget/Busines.. at Individual)
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.
Behrooz Sadigh
(Critical Path Consulting Corporation at Senior Management Consultant - CellSaver..)
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.
Anonymous
()
This course provides an understanding of what a good control environment is and the importance of a company establishing and maintaining a good control environment.
Anonymous
(Internal Risk/Control Coordinator)
"How should the control environment be viewed by organizations?" <--Based on the expected answer, this question is written extremely poorly & is misleading.
Anonymous
(SFA)
Great course, thank you very much Lynn. I like the unique summaries developed by Lynn and presented to the audience. The are very usable for real life.
Anonymous
(Head of Global Business Assurance)
i enjoyed this course and would recommend it to anyone looking to dive deeper into COSO control environment considerations and assessment techniques.
Anonymous
(Senior Analyst)
Perfect course.Stated learning objectives were met, stated prerequisite requirements were appropriate and sufficient and instructor was effective.
Anonymous
(-)
Very detailed course on control environment with practical examples. This provided very good information and background on control environment.
Anonymous
(Not Provided)
There are some good tips, made me critically reconsider current processes at my organization. Exam questions are quite challenging, I liked it.
Eric Cox
(Senior Accountant at Mondo)
Helpful for anyone in finance or accounting but I think those in external and internal audit would specifically get the most from this course.
Anonymous
(-)
Great course providing professional insight regarding the complexities involved on evaluating an organization's control environment.
Anonymous
(Accountant)
This course provides an understanding of the control environment and the importance of a company establishing and maintaining one.
Anonymous
(-)
I didn't realize how dated the COSO Framework that I had been using previously was! Glad they updated. Thanks for the course.
Anonymous
(Senior IT Auditor)
Course is great. It provides the comprehensive review of the control environment. very applicable to day to day work.
Anonymous
(IT Advisory Snr. Associate)
A refreshing course for me. Nothing surprised me. Beginners in the field will gain a lot from this training.
Anonymous
(-)
Very clear presentation, easy to follow. Illustrative examples helped to better understand the concept.
Anonymous
(Manager)
good material, it is a refresher of the things we usually overlook or we don't stop to think about
Anonymous
()
This course was informative and provided a good background to understand the control environment.
RICARDO CAMPOLINA DE TOLEDO
( at WPP)
It was a great summary of the main concepts regard COSO / Control Environment. Great to refresh.
RUSSELL FULCHER
( at PCX)
Great course! The instructor really communicated the elements of the control environment well
Sophia Kasozi
(- at City of Edmonton)
Great review and refresher on internal controls and its importance in the success of a company.
Anonymous
()
Good course and learning tool, fully met course objectives. Always enjoy Ms. Fountains courses.
Anonymous
(Head of Internal Audit)
A good set of steps to think about and follow. Great questions though hard to get answers to.
Janae Dacut, MBA, CIA
(Auditor at Kaiser Permanente)
This is a good course to get a refresher on COSO and its importance within an organization.
Ara Toroyan
(Director - Financial Planning & Proc.. at NCCI Holdings, Inc.)
Going deeper in to COSO 2013 than I ever thought I would want to know. Good class.
Anonymous
()
Great course of COSO 2013 Control Environment that should be understand very well.
Robin Smith
(Supervisor of Audit Quality at Simmons Bank)
This course provided a very thorough review of the COSO 2013 Control Environment.
Anonymous
(-)
Easy to understand explanation of COSO 2013's Control Environment Requirement
Anonymous
(Assistant Manager)
Entire course was very organized and well explained by taking live examples.
Anonymous
()
Good overall presentation on the principles of Control Environment Compliance
Anonymous
(cfo - consultant)
great information on COSO control environment compliance.
great examples.
Anonymous
(Senior IT Internal Auidtor)
Very informative. Easy to follow and relevant to my current duties.
Anonymous
(Consultant - Process Specialist)
Course discusses the importance of control environment in a good ICS
Anonymous
(Analyst, Internal Reporting)
Course was very informative and the presentation was well done.
Kevin Murray
(Business Partner - Strategic Projects at The Wesson Group)
Excellent summary of the CE and its affect on an organization.
Robert Godfrey
(CPA at Robert Godfrey, CPA)
Always great to learn from your perspective, Ms. Fountain!
Kim C. Hay
(Senior Financial Operations Analyst at Kentucky Health Cooperative)
Solid overview of a very subjective component of COSO 2013
Robert Workman
(Senior Lean Development Officer at Confidential)
Good introduction to COSO and essential integral lessons
Anonymous
(Consultant)
The materials were laid out in an easy to follow manner.
Anonymous
(Experienced Manager)
Good overview of the control environment component.
Anonymous
()
COSO 2013 Control Environment is an awesome course.
Anonymous
(Associate with Two Degrees)
Thorough and clear explanation of the concepts!
Tabby Lei
(Sr. Security Analyst at Intuit)
Good overview of COSO 2013 control environment
Anonymous
(Risk Management Consulting)
Another excellent course from Lynn Fountain
Anonymous
(-)
It was a good training. I learned a lot.
keith oexeman
(Consulting Director St Louis at RSM US LLP)
Presenter style is not very energetic.
Anonymous
(Finance Manager)
The instructor is very knowledgeable.
Anonymous
(Senior Treasury Analyst)
Lots of great information & examples
Stephen Vigil
(Investment Accounting Bureau Chief at State of New Mexico)
The course is well presented!
Sylvia Ratliff
(internal audit consultant at self employed)
Some interesting perspectives
Barry Davis
(Tax Accountant at CP Kelco)
Good overview of COSO 2013.
Anonymous
(-)
It was a very good course
William Peden
(Finance at RHMR)
I enjoyed this course.
Anonymous
(Director of Accounting and Finance)
Good COSO discussion
Renato Santos
(Regulatory Reporting Quality Assurance A.. at Wells Fargo)
Excellent course
Warren McLean
(Self Employed at Retired)
Well thought out
Anonymous
(Director - Transaction Services)
Good course.
Lou Mortillaro, CMA
(Accounting Manager at American Financial Resources)
Great course
Anonymous
(-)
Great course
Prashant Modani
(Sr. Director - Corporate Audit at Broadridge Financial Solutions, Inc)
Good course
Anonymous
(None)
Very Good!!
Mike Underwood
(Controller at Clinica de Salud del Valle de Salinas)
Very good.
Anonymous
(President)
Nice work.
Anonymous
(NA)
god course
Anonymous
(Chief Financial Officer)
Nice job
Vahé Hovakimian
(Financial Analyst at Great Place to Work Institute)
great!
Patrenia McAbee
(Owner at McAbee Consulting)
Good
Anonymous
(Sole Practitioner)
45
Anonymous
(Vice President and Chief Audit Executive)
x
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
.
Lynn FountainCPA, CGMA, CRMA, MBA, Consultant, Author, Trainer
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