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Lynn Fountain, CPA, CGMA, CRMA, MBA, Consultant, Author, Trainer
Former Chief Audit Executive for two global companies, expert in SOX, COSO, ERM and corporate governance frameworks. Nationally recognized trainer, speaker published author.
This instructor has 169 courses »To Access This Course:
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 original framework is widely accepted as a leading framework for designing, implementing, and conducting internal control and assessing the effectiveness of internal control. Since then, technology has drastically changed the business operating environment and the associated risks. In May 2013, the COSO foundation released an update to the framework.
The framework was updated due to global economic changes, enhanced information technology and increased shareholder expectations. Professionals must obtain a basic understanding of the concepts, principles and potential impact, including changes from the 1992 framework and the key COSO components and 17 principles.
This course provides an overview of the important concepts of COSO 2013. You'll learn about the important changes in the COSO framework and explore opportunities for management to place a renewed focus on internal control and enhance and solidify their Sarbanes-Oxley attestation.
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.
Note: Information within this course comes from readily available public domain documents and is utilized by the trainer as a supplement for relaying the course content.
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
- Explore the definition of Internal Control (IC) and its importance in today’s business.
- Explore reason for COSO update and dissect key changes.
- Discover the basic tenants of Internal Control (IC).
- Recognize the keys to the COSO 17 principles
- Explore how to perform a needs impact assessment and compliance plan.
Last updated/reviewed: June 21, 2021
Included In Certifications
This course is included in the following Certification Programs:
16 CoursesSarbanes-Oxley (SOX) Certification
- Sarbanes Oxley (SOX) Overview
- SOX: Authoritative Bodies
- Sarbanes-Oxley (SOX) Standards - Evolution
- Information Technology General Controls Primer
- COSO 2013 Overview
- Sarbanes-Oxley (SOX) Section 404
- Sarbanes-Oxley Section 302: ICFR
- Sarbanes-Oxley (SOX) And Fraud Sections
- Sarbanes-Oxley (SOX) - Top Down Risk Assessment Part 1
- Sarbanes-Oxley (SOX) - Top Down Risk Assessment Part 2
- Sarbanes-Oxley (SOX) - Entity Level Controls
- Sarbanes-Oxley (SOX) Identifying and Documenting Controls
- Sarbanes-Oxley (SOX) Testing
- Sarbanes-Oxley (SOX) - Assessing Material Impact
- XBRL - Connection to SOX 302/404 and Critical Roles
- Tools For Sarbanes-Oxley Compliance
17 CoursesInternal Controls Certification
- Management Internal Control Essentials
- COSO 2013 Overview
- Internal Audit Standards Overview
- Internal Audit Standards - Managing Internal Audit Work
- Internal Audit Standards - Executing the Audit Engagement
- Identifying and Implementing the Proper Balance of Internal Controls
- Documentation Methods For Internal Control Processes
- Foundations for a Strong Internal Audit Department
- Internal Audit: Keys to Managing an Effective Function
- Internal Audit Effective Relations with the Audit Committee
- Understanding Risk-Based Auditing
- Risk Based Auditing – Establishing a Methodology
- Risk Based Auditing – Applying the Methodology
- Segregation of Duties for Core Business Processes
- Whistleblower Hotlines - Effective Management
- Tools for Internal Control Certificate
- Lessons of an Auditor- Tools for Internal Control Certificate
26 CoursesInternal Audit Certificate
- Internal Audit Standards Overview
- Internal Audit Standards - Managing Internal Audit Work
- Internal Audit Standards - Executing the Audit Engagement
- Identifying and Implementing the Proper Balance of Internal Controls
- Documentation Methods For Internal Control Processes
- Segregation of Duties for Core Business Processes
- Foundations for a Strong Internal Audit Department
- Internal Audit Management - Top Skills
- Internal Audit: Keys to Managing an Effective Function
- Understanding Risk-Based Auditing
- Risk Based Auditing – Establishing a Methodology
- Risk Based Auditing – Applying the Methodology
- Cyber Risk Frameworks And Concepts
- Fraud Risk Assessments
- Introduction to Forensic Accounting
- The Fraud Triangle
- Internal Audit Effective Relations with the Audit Committee
- COSO 2013 Overview
- COSO 2013 - Operational Execution
- Internal Audit Emerging Risks for 2021 and Beyond - Part 1
- Internal Audit Emerging Risks for 2021 and Beyond - Part 2
- Internal Audit Emerging Risks for 2021 and Beyond - Part 3
- Internal Audit Emerging Risks for 2021 and Beyond - Part 4
- Internal Audit Challenges During Times of COVID
- Tools for Internal Control Certificate
- Lessons of an Auditor- Tools for Internal Control Certificate
142 Reviews (445 ratings)Reviews
Anonymous
(Senior IT Audit Analyst)
I found this course to be an excellent source of information related to the differences in COSO 2013. It was detailed enough without being overly dry.
Anonymous
(Independent Financial Consultant)
Excellent course which explained the differences between COSO 1992 and COSO 2013. Nicely laid out reference materials. I like the way that Lynn listed the steps needed for the transition plan in an easy to understand manner.
Anonymous
(Internal Control Expert)
It was very well structured, well-paced and easy to follow training course. Structuring the course in segments as well as offering a continuous play option is perfect for any learning style. The examples given were good.
Anonymous
(SFA)
I like the style of the material presentation, the slides are to the point. It is a very good introduction to COSO 2013 and useful to get a taste of what is coming in the individual framework components modules.
Renato Santos
(Regulatory Reporting Quality Assurance A.. at Wells Fargo)
Excellent introduction to COSO 2013. I really enjoyed this course, as it provided solid overview of Internal Control and COSO 1992, contrasted with the new concepts and requirements of COSO 2013.
Kevin Murray
(Controller at DA Collins)
This is an excellent overview of the COS framework and establishing a framework for internal controls. It's useful even if you already have robust internal control policies and procedures.
Paulo Sitoe
(Internal Auditor at Nokia)
Good framework highlighting the changes of COSO 1992 to COSO 2013. The addition of monitoring and incorporation all overall enviroment and technology to the model made it more effective.
Anonymous
(Auditor)
The course provided a good overview of the COSO framework and the elements associated with it. It also went into good detail explaining the updates from the original 1992 framework.
Georgios Baltos
( at EUI)
It was a bit more difficult course, than it was before organized by the same author. Probably for the next time it would be good, if there will provided more slides of the topic.
Anonymous
()
The course was well-structured and clearly set out the differences between the 1992 and the 2013 framework. It provided a good insight to the key elements of the 2013 framework.
Cathy Welch
(Business Manager at St Mary Student Parish)
Good overview of the COSO framework changes from 1992 to 2013. Very helpful for someone who has not been working in the Internal Audit field since the changes were introduced.
Anonymous
(Project Manager)
The course provides a great overview of COSO 2013 framework as well as the differences between the 1992 framework and the 2013 framework and reasons behind the updates made.
Jon McGinnis
(Internal Audit Director at One Call)
Simple, easy to follow, and answers to quizzes and exams are provided. Some CPE training does not provide anything beyond the final score so you can not learn from mistakes.
Melanie Cook
(Manager SOX & Accounting at First Merchants Bank)
Nice overview of the 5 Components of Internal Control along with the 17 Principles. Good examples and explanations provided making it easier to understand and relate to.
Anonymous
(Sr. Accountant)
overview of COSO 2013 was another course I enjoyed. I thought the material provided was both informative and interesting. The course was expertly presented by Lynn.
Ara Toroyan
(Director - Financial Planning & Proc.. at NCCI Holdings, Inc.)
Not sure why a good class that lasts 1:26 minutes doesn't warrant 1.5 CPE hours. A CPE hour is 50 minutes. Clearly there are 1.5 hours here. Good class otherwise.
Joy Franklin
(Auditor at Assurant)
The instructor did a nice job in explaining the subject matter. She used examples that were understandable and has a good knowledge regarding history on the subject.
Anonymous
(Financial Controls Compliance Manager)
The session on the COSO framework and underlying principles was detailed and gave me a better understanding in assessing, designing and monitoring internal controls.
Stephen Vigil
(Investment Accounting Bureau Chief at State of New Mexico)
Thanks for putting together a great overview of the COSO 2013 framework. This definitely increases my appreciation for internal controls including SOX compliance.
Mariem Issler
(Director Internal Control, Processes and.. at Thales)
This overview allow to understand the change between COSO 1992 and 2013 version as well as the benefits and challenges of internal control in the organization.
Scott Beth
(VP of Finance Operations at Intuit )
Great overview! I can now talk intelligently with our Chief Audit Officer about what is changing and what stays the same, and how to apply the 17 principles.
Anonymous
(Auditor)
This course effectively explains COSO and each of the key principles that were implemented. This is a great course for introducing the key concepts
Anonymous
()
COSO 2013 Framework Requirements and Implementation Overview provided me with the necessary overview to work with management in the design of IC's.
Anonymous
(Financial Analyst)
I wasn't too familiar with COSO, so this course what an excellent overview. I really enjoyed that a high level overview was given of COSO 1992.
Anonymous
(Senior Finance Manager)
Lynn is one of the best instructors and she did it again in this training. Throughout and provide students with a great overview of COGS 2013.
Anonymous
(Analyst)
It's helpful to understand the history of the COSO framework and the timeline of the updates to evolve with the changing business environment.
Anonymous
()
It was a good overview of what changed from COSO 1992 to 2013. However, considering it is now 2020 it may be time to refresh this course.
Sarah Nikas
(Finance Controls and Compliance Lead at Cargill)
I was familiar with the original model but this overview helped me to understand the 17 principles that now accompany the 5 attributes.
Halina Kovel
(Sr Revenue Accountant at Yelp)
brief but thorough explanation of COSO framework, very helpful to get a general understanding of relevant principals and SOX compliance
Anonymous
(EVP)
Good course on basics of the framework. Provides an excellent overview for anyone getting started and unfamiliar with SOX and COSO.
Jun Zhu
(IC Expert at Nokia)
It is quite helpful to have the overview of internal control, especially the keys of COSO 17 principles in the new update of COSO2013.
Anonymous
()
Good course that covers the subject comprehensively. I do think the test should have been a little more focused on principles, etc.
Anonymous
(Contractor)
good overview of COSO framework. I like that it covers the initial document and then focuses on the changes done with the update.
Beth Case
(Manager at RSM)
Course was good and time was right. However, the survey functionality is not working. I have had to take the survey 5 times.
Raveendran Madappattu
View Instructor Profile
The comparisons between the 1992 Framework and the 2013 Framework were well demonstrated in the presentation. Thank you, Lynn.
William Gaw
(Consultant at Gaw Systems LLC)
While this was an overview, more details and better examples would have made this more effective. It was a bit too high-level.
Steve Brown
(Senior Auditor at Charter Communications)
This course gives a good detailed overview of COSO 2013. If you are not familiar with COSO 2013, then this course is for you.
Anonymous
()
This course provides a good understanding of COSO and the benefits of a well thought out and implemented control environment.
Anonymous
(Sole Proprietor)
I found this course to be very comprehensive and informative. I know have a better understanding of COSO and it's principles.
Anonymous
(N/a)
A very high quality course and materials that far exceeds the cost. I'd recommend the course and overall service to others.
Sean Kiley
(Risk Management at HFCU)
Course provides good background information for context to COSO as well as comparison to 1992 and 2013 COSO framework.
Sylvia Ratliff
(internal audit consultant at self employed)
Surprised at length of presentation for 1 CPE. Thorough coverage, good presentation, but think worth more than 1 CPE.
Elizabeth Martin
( at Self)
Give a good summary of the 17 principles and their Points of Focus, and a good introduction to the next COSO courses.
Anonymous
(Consultant)
Great course to refresh knowledge on COSO 1992 and 2013. Details the reasons for the updates and significant changes.
Anonymous
(Sr. Accountant)
This course was challenging yet informative, and I am glad I was able to increase my level of knowledge in this area.
Donald Dye
(Partner at Skylake)
very good material
impactful website
dense material presented in an understandable format.
slides are very useful
Anonymous
(Consultant - Process Specialist)
It briefly discusses the basic changes from the old and the new COSO Framework and basic principles that underlie it
Anonymous
(Head of Global Business Assurance)
A good overview and primer on COSO 2013, what's new and what has changed. Concise yet informative. Very well done.
Anonymous
(-)
I liked that the instructor included a video of herself with the slides and she did not just read from the cards.
Anonymous
(Senior Manager, External Reporting and C..)
Great overview of the concepts of COSO 2013. Perhaps provide more quick examples for each component or principle.
Keith Perry
View Instructor Profile
Good review in depth of the topic. Helps to understand the evolution of COSO to what we're implementing today.
Anonymous
(SOX Analyst)
This was good, basic overview of the COSO 2013 updates. Would recommend to anyone new to the COSO requirements.
Anonymous
(Board Member)
I didn't understand why this course only qualified for 1 hour of continuing education. Good information.
Anonymous
(Consultant)
Another complete overview of the components of the COSO framework. Good for any employee to understand.
Cristina Palacios
(Senior Internal Auditor at CommunityBank of Texas)
Good overview of COSO 2013 and presentation is concise in summarizing the updates and key changes.
Anonymous
(-)
This was a good refresher of COSO framework and clearly described changes from previous framework.
Matthew Kissell
(Risk Advisory Services at RSM)
Good easy to follow course. Helpful and a good refresher on COSO and the changes with COSO 2013.
ERIC ABAIDOO
( at Tullow Oil)
It is has given me a better understanding of Internal control.I also understand COSO better now.
Anonymous
(Internal controls manager)
This was a good first course to get an overview with sufficient level of details at this point.
Anonymous
(CPA)
This course was excellent and provided important information that I will utilize in the future.
Anonymous
(Assistant Internal Audit Manager)
This course provides an overview of the COSO framework and the components associated with it.
Aline Cristina Correa
( at Disney)
good explanation about the basics of coso that we should know before starting working on it.
Jennifer Pawliw
(Associate Auditor at Berkshire Bank)
Very interesting course. Good description of differences between 1992 and 2013 standards.
Ibrahim Khalil
(Accounting Manager at Laith Al Obaidi Cars Trading)
Good and short explanation. The way she presented is good, but there is no deep explanation.
Anonymous
()
This is a very interesting course on COSO 2013 and internal controls presented very clearly.
Anonymous
(-)
A bit redundant but still a valuable and insightful discussion of the refreshed framework.
Anonymous
()
Course was comprehensive and thorough. Lynn is a great presenter. Slides were helpful.
Anonymous
(Manager Internal Audit)
The course was beneficial to gaining a better understanding of the COSO framework updates.
Kelechi Nwogu
(Senior IT Auditor at Hilltop Holdings)
The Course was easy to understand and follow. It provided a deeper understanding of COSO
Jana Connoway
(Senior Internal Auditor at HealthShare Ltd)
This course helped me to understand COSO and what changes there were in the 2013 update
Jennifer Welch
(AVP Internal Auditor III at Community Bank of Texas)
This course was helpful in identifying key changes in COSO and applying those changes.
Michael Rogers
(Internal Auditor at Assurant)
I enjoyed the format of presentation and was able to absorb the material effectively.
Paul Hong
(Supervisor at RSM)
This helped to identify the key changes with COSO and the reasons for those changes.
Wanda Richardson
(Unemployed at Not Applicable)
The course provided enough specifics to enhance comprehension of material covered.
Mercedes Watkins
(Chief Strategist at Meveau)
This course was a wonderful refresher. The instructor provides reliable content.
David Weichert
(Director of Finance and Administration at Parking Authority of the City of Lancast..)
Good introduction to COSO 2013 and the updates from the original COSO framework.
Anonymous
(Accounting staff consultant)
Good materials along with clear explanation..some area may not require more time
Anonymous
(Deputy Manager)
The detailed presentation of the COSO framework is very informative and useful.
Patricia Neuendorf
(Director of Internal Audit at Patriot Transportation Holding, Inc)
Perfect for an introduction. To the point but with clarity and easy to follow
Anonymous
(SOX process manager)
This is a good overview of COSO framework and how to apply it in businesses.
Anonymous
()
Good overview and provides an understanding of the key elements and changes.
Anonymous
(Manager Internal Controls)
This course is a good refresher to focus again on the basics of SOX and COSO
Anonymous
(Internal Audit)
It is always good to learn more about COSO and the changing environment.
Jayla Murphy
(Risk Analyst at VA - U.S. Department of Veterans Affairs)
This facilitator is wonderful. So much knowledge. Great refresher for me.
Alicia Preddy
(Director Risk Advisory Services at RSM US LLP)
More specific examples would be helpful, some areas were a bit drawn out
Anonymous
()
Good course of COSO 2013 overview that help me to apply it in right way.
Diann Saltman
(Director of Quality Assurance (OIG, audi.. at Department of Health and Human Services)
This was a very good course that I will be able to refer to in my work.
Anonymous
(Controls Specialist)
A very good overview of COSO 2013 and its predecessor 1992 framework.
Corey Masters
(Accountant, Internal Auditor, Risk Speci.. at Self)
I thought the course should have been worth more than just one CPE.
Anonymous
(-)
Thanks for the update on the COSO 2013 framework. Decent course!
Anonymous
(Head of Internal Audit Department)
Concise and easy to follow description / overview of transition.
Antonio Crawford
(Senior Internal Auditor - Budget/Busines.. at Individual)
All her courses are great. Abrief history of the COSO framework.
Tania Roberts
(Revenue Accountant at Tangoe)
I liked having the supporting docs, i.e. PDF's to write notes.
Dana McGinnis
(Internal Auditor at CommunityBank of Texas)
Very understandable! I highly encourage taking this course.
Anonymous
()
I always enjoy Lynn's courses. A good overview of COSO 2013.
Anonymous
(Senior Accountant)
It's going to help when my company set up internal controls.
Drew Semple
(Senior Associate at RSM)
great review, I learned a lot about COSO and the principles
Anonymous
()
COSO 2013 Overview is an excellent overview. Please watch.
Sophia Kasozi
(- at City of Edmonton)
Great review and refresher of the framework for COSO 2013
Anonymous
()
Good for high level understanding of the changes to COSO
Anonymous
()
Very well done. The course effectively covers COSO 2013.
Anonymous
(Business Manager Finance)
Great high level overview of changes in the framework.
Kim C. Hay
(Senior Financial Operations Analyst at Kentucky Health Cooperative)
Great compare and contrast COSO 1992 versus COSO 2013.
Sindura Swarna
(Assistant Manager at Mylan)
it was good........................................
Todd Krawiec
(Sr. IA Manager at Guess? Inc.)
Easy to follow, on-topic, provides a good overview.
Anonymous
(Staff Operations Auditor)
This course provides a great overview of COSO 2013
Anonymous
(Accounting Manager)
This course is informative regarding COSO changes.
Renee Stanley, CPA
(Associate with Two Degrees at Nuance Communications)
Thorough and clear presentation of the concepts!
Bruce Hunt
(VP Finance at Hunt FP&A Insights)
Excellent overview of the latest update to COSO
great concise summary, good flow of information
Anonymous
(-)
Helpful refresher and foundation for COSO.
Jaden Turner
(Founder - CTO - CIO at QUIKER Quality Engineering)
It's been great learning about frameworks
Anonymous
(Assistant Manager)
Really useful overview of COSO 2013
Siva Vinay
(Interim Controller at Navona)
very well summarized and explained
Anonymous
(Analyst, Internal Reporting)
Great overview, very informative.
William Peden
(Finance at RHMR)
Very good overview of COSO2013
Anonymous
(President)
Nice organization of content.
Warren McLean
(Self Employed at Retired)
Much better than anticipated.
Chad Michael
(Audit Supervisor at Southwestern Energy)
Good overview on COSO 2013
Anonymous
(-)
It was a very good course
Anonymous
(cfo - consultant)
Great info on COSO FR&IO
Greg Vaughn
(Director of Accounting and Finance at Pinelake Church)
Good information...
Anonymous
(Senior Treasury Analyst)
good introduction
Lou Mortillaro, CMA
(Accounting Manager at American Financial Resources)
Very good course
Anonymous
(SOX Senior Auditor)
Good Information
Terri Salazar-Rodriguez
(None at None)
Great overview.
Anonymous
(-)
Origin of COSO
Anonymous
(Compass Consultant)
Good summary.
Anonymous
(Director of Internal Audit)
Good overview.
Anonymous
(ABCDE)
Good course!!
Anonymous
(Senior Auditor)
Great course!
Anonymous
(Consultant)
Nice overview
Kevin Barnes
(- at Next Level Solar)
Great course
Anonymous
(None)
Informative.
Anonymous
(NA)
good course
valerie mclaughlin
(Not Provided at n/a)
interesting
Anonymous
(Accountant)
Very clear
Anonymous
(Sr. Director - Corporate Audit)
Good
Patrenia McAbee
(Owner at McAbee Consulting)
Good
Anonymous
(Manager, Risk Advisory and Assurance Ser..)
blah
Anonymous
(Internal Auditor)
Fine
Vahé Hovakimian
(Financial Analyst at Great Place to Work Institute)
3/5
Prerequisites
Course Complexity: Intermediate
Prerequisite: Exposure to risk management
- This is the beginning overview course for individuals to gain a baseline understanding of the new requirements of COSO 2013 and how they compare to COSO 1992.
- Individuals should have a basic understanding of the COSO framework, COSO organization and its application of use.
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 .