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Enrolled:
104
Duration: 1 Hour
Level: Intermediate
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The fifth and final component of COSO 2013, this course focuses on the two separate principles and related points that support the Monitoring component.

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

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

Monitoring represents ongoing or separate evaluations--or some combination of the two--used to ascertain whether each of the five key COSO components of internal control are present and functioning.

Simply put, monitoring refers to your organization’s ability to observe the effectiveness of the daily operation of controls, individually and in cooperation with other controls. Management as well as external auditors must understand each of these principles and be able to validate 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.

This course covers:

  • Principles supporting the Monitoring component
  • Articulation of points of focus supporting the monitoring component
  • Understanding how to utilize the POF most efficiently in your transition process
  • Differentiation between principles and execution
  • How Monitoring supports other COSO components

 

This course is part of a series of courses: 

COSO 2013 Framework Requirements & Implementation Overview  COSO 2013 Control Environment Compliance  COSO 2013 Risk Assessment Compliance  COSO 2013 Control Activity Compliance  COSO 2013 Requirements for Complying with the Information & Communication Component  COSO 2013: Requirements for Complying with the Monitoring Component of COSO (This Course)

Course Collections

This course is included in the following Course Collections:

Learning Objectives

  • Defining the Monitoring Component for COSO 2013
  • Examining the principles supporting the Monitoring component.
  • Exploring how the Monitoring component connects to the other components of COSO

22 Reviews (63 ratings)Reviews

5
Member's Profile
Quick and concise.
4
Anonymous Author
Good understanding of Monitoring required as per COSO.
4
Member's Profile
Excellent course and series of courses on internal controls. There are many good points in regards to management needing to be engaged in IC prior to something bad happening.
5
Member's Profile
I liked the course it was very informative.
5
Member's Profile
Excellent Trainer, practical courses. If you want to get a PhD in SOX take all her courses. Ms. Fountain questions are a bit confusing, I guess she wants to make sure we were paying attention.
5
Member's Profile
Good
5
Member's Profile
Great course
4
Anonymous Author
Good
5
Member's Profile
This mistyped "as" at 12th slide is full of inner meaning
4
Anonymous Author
Good examples.
5
Member's Profile
great!
4
Anonymous Author
It was a very good course
5
Anonymous Author
excellent course
5
Member's Profile
good course
Anonymous Author
x
5
Anonymous Author
Another good seminar by Lynn
4
Member's Profile
Principles 16 & 17 helped to keep track of location within the COSO 2013 scheme.
5
Member's Profile
Principles 16 & 17 helped to keep track of location within the COSO 2013 scheme.
4
Member's Profile
Good
4
Anonymous Author
Good
5
Member's Profile
Great finish to the COSO series
4
Anonymous Author
Good insight into complying with monitoring COSO. good examples & documentation.

Prerequisites

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 ext. 106, or send an e-mail to .
Course Syllabus
INTRODUCTION AND OVERVIEW
The Monitoring Component
  10:20Defining Monitoring
  3:25Monitoring Principles
  24:38Principle 16
  12:38Principle 17
CONCLUSION
  8:50Monitoring as a Support for other Coso Components and Conclusion
Continuous Play
  1:05:166 COSO 2013: Requirements for Complying with the Monitoring Component of COSO
SUPPORTING MATERIALS
  PDFSlides: Monitoring
  PDFMonitoring Glossary/Index
REVIEW & TEST
  quizREVIEW QUESTIONS
 examFINAL EXAM