This course is designed to review the use of the COSO Framework for Internal Controls. The course will cover the five components of the COSO Framework: the control environment, control activities, information & communication, risk assessment and monitoring. We will discuss conducting a risk assessment and developing various types of internal controls. We will walk through the process of developing internal controls.
Publication Date: September 2021
Designed For
CPAs, CFEs, CFFs, CMAs, CIAs, MAFFs, CGMAs, CFOs, CEOs, business owners, business managers, internal auditors, external auditors, corporate accountants, government accountants and risk management personnel.
Topics Covered
- COSO Framework for Internal Control
- Internal Control & Cybersecurity Frameworks
- COBIT
- Obtaining an Understanding of the Control Environment
- Requirement for Internal Controls
- COSO Framework for Internal Control: Control Environment
- COSO Framework for Internal Control: Risk Assessment
- Identifying Risks
- COSO Framework for Internal Control: Control Activities
- COSO Framework for Internal Control: Information & Communication
- COSO Framework for Internal Control: Monitoring
- COSO Framework for Internal Control: Judgment
- COSO Component Evaluation
- Evaluating Internal Controls
Learning Objectives
- Identify the components of the COSO Framework for Internal Control
- Identify how to implement the COSO Framework for Internal Control
- Recognize which COSO component is often referred to as the "Tone at the Top"
- Identify an aspect of risk assessment, control environment, control activities, and risk assessment
Level
Basic
Instructional Method
Self-Study
NASBA Field of Study
Accounting (2 hours)
Program Prerequisites
None
Advance Preparation
None
Instructor
Robert K Minniti
DBA, CPA, CFE, Cr.FA, CVA, MAFF, CFF, CGMA, PI
Dr. Minniti is the President and Owner of Minniti CPA, LLC. Dr. Minniti is a Certified Public Accountant, Certified Forensic Accountant, Certified Fraud Examiner, Certified Valuation Analyst, Certified in Financial Forensics, Master Analyst in Financial Forensics, Chartered Global Management Accountant, and is a licensed private investigator in the state of Arizona.
Dr. Minniti received his doctoral degree in business administration from Walden University, received his MBA degree and Graduate Certificate in Accounting from DeVry University’s Keller Graduate School of Management, and received his Bachelor of Science in Business Administration degree from the University of Phoenix. Dr. Minniti taught graduate and undergraduate courses in forensic accounting at DeVry University, Grand Canyon University, Kaplan University, Northwestern University, and the University of Phoenix. He designed graduate and undergraduate courses for Grand Canyon University, Northwestern University, and Anthem College.
He is a writer and public speaker. He has experience in forensic accounting, fraud examinations, financial audits, internal audits, compliance audits, real estate valuations, business valuations, internal control development, business continuation planning, risk management, cyber security, privacy laws, data security, Sarbanes-Oxley compliance work and business consulting. In addition to his practice Dr. Minniti is an instructor teaching continuing professional education classes for a variety of providers and CPA Societies.
Dr. Minniti is currently serving as a board member on the National Association of Certified Valuators and Analysts' (NACVA) Litigation Forensics Board (LFB) and as a committee member on the Arizona State Board of Accountancy's Law Review Advisory Committee.