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Enrolled:
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Duration: 1 Hour
Level: Intermediate
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Information & Communication is necessary for the entity to carry out internal control responsibilities to support the achievement of objectives.  Management generates and uses relevant and quality information from both internal and external sources to support the functioning of internal control.  Communication is considered a continual and iterative process of providing, sharing and obtaining necessary information.  Information and Communication is the fourth component in the COSO framework.

COSO 2013 maintained 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 Information and Communication  component and the three separate principles that support this component. 

Information and Communication stands at the heart of any company.  It incorporates not just verbal communication but also a company’s IT infrastructure.

  • Principle 13: The organization uses relevant information. (5 POF)
  • Principle 14: Internal communication is effective.            (4 POF)
  • Principle 15:  External communication is sufficient.         (5 POF)

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

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.

 

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

Course Collections

This course is included in the following Course Collections:

Learning Objectives

  • Defining Information & Communication component for COSO 2013
  • Examining the principles supporting the information and communication component.
  • Articulation of the Points of Focus that support the principles of Information & Communication.
  • Exploring how to utilize these points of focus most efficiently in your transition process.
  • Design of principles vs. execution – understanding the critical difference.
  • How the Information & Communication component connects to the other four components of COSO.

21 Reviews (80 ratings)Reviews

4
Anonymous Author
Good understanding of IC for COSO
4
Member's Profile
A good overview of how important information and communication are to the control environment of an organization.
5
Member's Profile
Very good course presentation
4
Anonymous Author
Good
5
Member's Profile
Nicely presented course!!!
4
Anonymous Author
Good information.
5
Member's Profile
great!
5
Member's Profile
Very detailed and easy to follow.
4
Anonymous Author
It was a very good course
5
Anonymous Author
good course
5
Member's Profile
Good Course
5
Member's Profile
Very detailed information for the topic.
3
Anonymous Author
x
5
Member's Profile
Interesting subject.
4
Anonymous Author
Good topic
5
Member's Profile
Did not do these in order, as I thought would be best, but they also stand alone very well.
4
Member's Profile
Good
4
Anonymous Author
Good
5
Member's Profile
Excellent presentation
5
Anonymous Author
Lynn did an excellent job explaining why information management and communication are so important to the control environment. I liked how the materials also captured the importance of the IT Infrastructure elements.
4
Anonymous Author
good information on COSO Complying information & communication component. good examples.

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
Information and Communication
  10:23Defining Information and Communication
  18:24Information and Communication Principles
Points of Focus
  12:23Points of Focus that Support the I&C Principles
  5:45Understanding How to Utilize the POF in Your Transition Process
CONCLUSION
  6:08Course Conclusion and Summary
Continuous Play
  58:465 COSO 2013 Requirements for Complying with the Information & Communication Component
SUPPORTING MATERIALS
  PDFSlides: Requirements for complying with the Information & Communication
  PDFCOSO Control Activity Glossary/Index
BONUS MATERIAL
  PDFBonus Material: "The Pain of Risk Tolerance"
REVIEW & TEST
  quizREVIEW QUESTIONS
 examFINAL EXAM