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Enrolled:
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Duration: 1 Hour
Level: Intermediate
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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 will become 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

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

Control Activity is named as the third component within COSO 2013. Control Activities are actions defined through policies and procedures that help ensure management directives to mitigate risks to the achievement of objectives are carried out.  Control activities are performed at all levels of the organization and at various stages of business processes and technology. 

  • The organization selects and develops control activities that contribute to the mitigation of risks to the achievement of objectives to acceptable levels.         
  • The organization selects and develops general control activities over technology to support the achievement of objectives.     
  • The organization deploys control activities through policies that establish what is expected and procedures that put policies into place.

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 course dissects the three principles and important concepts that companies need to understand and support in order to provide that the principles are in place and functioning.  We also discuss concepts related to mapping the principles to controls within the organization.

 

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 (This Course) COSO 2013 Requirements for Complying with the Information & Communication Component  COSO 2013: Requirements for Complying with the Monitoring Component of COSO

Course Collections

This course is included in the following Course Collections:

Learning Objectives

  • Define the Control Activity component for COSO 2013
  • Examine the three principles supporting the control environment.
  • Analyze sixteen points of focus that supports the three principles of control activities.
  • How to utilize these points of focus most efficiently in your transition process.
  • Design of principles vs. execution – understanding the critical difference.
  • Proper mapping for control activities.

31 Reviews (106 ratings)Reviews

4
Anonymous Author
A good understanding for Control Activities of COSO and why
5
Member's Profile
Very informative and useful.
4
Member's Profile
Good explanation of control activities.
5
Anonymous Author
Great explanation
5
Member's Profile
Well done!!!
4
Anonymous Author
Good course!
5
Member's Profile
It was excellent most optimization within short time frame
5
Member's Profile
Great!
5
Anonymous Author
Excellent presentation that goes over concepts that one often forgets in the application of Control Activities
5
Member's Profile
Well organized. Great examples. All staff within an organization should take this course to be enlightened as to why they do what they do.
4
Anonymous Author
It was a very good course
5
Anonymous Author
good course
4
Member's Profile
It was great refresher course. I liked that she provided some real life examples and the chart that she created on COSO attributes will be useful to leverage.
5
Member's Profile
The added bonus material is excellent.
5
Anonymous Author
great
5
Anonymous Author
Good overview of controls...
5
Member's Profile
Good Course
5
Anonymous Author
Great overall presentation on control activities. The materials were very informative and the presentation was delivered in a concise, efficient manner. Planning to take the rest of the courses in this area.
5
Member's Profile
Very quality material in a refresher course
5
Member's Profile
Nicely presented course! Thanks!
3
Anonymous Author
x
5
Anonymous Author
Got to know what is COSO 2013 and control activities.
4
Anonymous Author
This course was very well presented. There were a lot of details but it was easily understandable.
5
Member's Profile
Interesting.
5
Anonymous Author
Good information
5
Member's Profile
It helped to identify this course as 10, 11 and 12 of the 17 attributes of COSO 2013
4
Member's Profile
Good
3
Anonymous Author
Good
5
Member's Profile
Course was her usual high standard
4
Member's Profile
Course and materials provide broad and detailed guidance on COSO control activities.
4
Anonymous Author
Good synopsis of COSO 2013 Control Activity Compliance. Good war stories.

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
Control Activity Definition and Principles
  17:27Defining Control Activities
  2:50Control Activity Priciples
  8:39Principle 10
  4:30Principle 11
  9:18Principle 12
Conclusion
  6:29Mapping CE Principles and Course Summary
Continuous Play
  53:29COSO 2013 Control Activity Compliance
SUPPORTING MATERIALS
  PDFSlides: Control Activities
  PDFControl Activity Glossary/Index
Bonus Material
  PDFBonus Material: "Manager’s responsibility for Internal Control"
REVIEW & TEST
  quizREVIEW QUESTIONS
 examFINAL EXAM