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

“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

  1. COSO 2013 Overview
  2. COSO 2013 Control Environment
  3. COSO 2013 Risk Assessment
  4. COSO 2013 Control Activity
  5. COSO 2013 Information and Communication
  6. COSO 2013 Monitoring
  7. COSO 2013 - Operational Execution
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
Last updated/reviewed: August 16, 2023
40 Reviews (143 ratings)

Reviews

4
Anonymous Author
Another great course from Lynn Fountain! Full of relevant considerations, real-world experience, and moving at a fast pace for the busy professionals needing continuous education credits! Great course!

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.

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
Anonymous Author
Another great course from Lynn. As a part of the certificate program it is, in my opinion, would be most likely beneficial for the management to better understand COSO 2013.

5
Anonymous Author
Thorough discussion of monitoring component of COSO 2013 and underlying principles and POFs. Effective presentation and conclusion to the COSO 2013 series of courses.

5
Anonymous Author
Overall this course was informative and provided a good understanding of the principles and points of focus for the monitoring component of the coso framework.

5
Anonymous Author
Good overall presentation on the Points of Focus of the principles of Monitoring Compliance. Good explanation of Control vs Monitoring.

4
Anonymous Author
This course offered a solid overview of the monitoring component of COSO, and well as the requirements for conformance.

4
Anonymous Author
What a refreshing and interesting course. Nothing surprised me. This training will be most beneficial to beginners.

4
Anonymous Author
Very comprehensive and helpful course. I am very happy to take the course it is really informative and worth.

5
Anonymous Author
Internal auditors could info in this presentation to convince management the need for controls.

5
Member's Profile
It was a great pleasure to study this course. The slides were interesting and a very useful.

4
Member's Profile
Very informative, well organized presentation, though delivery is a little distracting.

4
Member's Profile
I love these COSO classes. Good solid content delivered in a nice way and well spoken.

4
Member's Profile
It is a great training to refresh the concepts about COSO and its monitoring element.

4
Anonymous Author
Good insight into complying with monitoring COSO. good examples & documentation.

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.

3
Member's Profile
A great review and refresher course on COSO monitoring principles 16 and 17.

4
Anonymous Author
This course discusses the importance of monitoring to have an effective ICS

4
Anonymous Author
I liked that presentation provided examples for business processes.

5
Anonymous Author
This course provided me with a good review of the subject matter.

5
Member's Profile
This mistyped "as" at 12th slide is full of inner meaning

4
Anonymous Author
Good understanding of Monitoring required as per COSO.

5
Anonymous Author
Very informative and well structured course. Good Job.

5
Member's Profile
I liked the course it was very informative.

5
Member's Profile
Great finish to the COSO series

5
Anonymous Author
Another good seminar by Lynn

4
Anonymous Author
It was a very good course

5
Member's Profile
Quick and concise.

5
Anonymous Author
excellent course

4
Anonymous Author
Good examples.

5
Member's Profile
Great course

Member's Profile
good course

5
Member's Profile
great!

4
Anonymous Author
Good

4
Member's Profile
Good

4
Anonymous Author
Good

5
Member's Profile
Good

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 .
Instructor for this course
Course Syllabus
INTRODUCTION AND OVERVIEW
The Monitoring Component
  Defining Monitoring 10:20
  Monitoring Principles3:25
  Principle 1624:38
  Principle 1712:38
CONCLUSION
  Monitoring as a Support for other COSO Components and Conclusion10.33
Continuous Play
  COSO 2013: Requirements for Complying with the Monitoring Component of COSO1:05:17
SUPPORTING MATERIALS
  Slides: MonitoringPDF
  Monitoring Glossary/IndexPDF
REVIEW & TEST
  REVIEW QUESTIONSquiz
 FINAL EXAMexam