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COSO 2013 and the Top-down, Risk-based Approach (MLC641D)
Are You Sure Your Organization has the Most Efficient Scope for SOX Assessment that Considers the New COSO Principles?
With the updated COSO Internal Control Framework in our hands, organizations should strive towards ensuring a consistent SOX program in their pocket. This should essentially consider the framework’s definition of an effective internal control. According to COSO, internal control exists with the meeting of two tests: (a) when risks to achieve objectives are at acceptable levels, and (b) when all the COSO components and principles are present and functioning.
However, it is seen that regulators have still not changed their requirements in a way that ensures assessment of internal control over financial reporting is made using a top-down and risk-based approach.
Norman Marks, CPA, CRMA, who is better known as an evangelist for “better run businesses” would describe exactly how a top-down and risk-based approach can encompass the new COSO requirements in this Live Webinar
Understanding top-down and risk-based approach as described by the SEC and PCAOB
Learning why assessment of internal control over financial reporting is made considering the COSO principles
Modifying the top-down and risk-based approach to include consideration of COSO principles
Identifying the COSO principle’s impact on deficiency assessment
Working with the external auditors to coordinate approaches to COSO 2013
Who Should Attend
SOX and other managers responsible for leading or overseeing the SOX program
Norman Marks, CPA, CRMA is an evangelist for “better run business”, focusing on corporate governance, risk management, internal audit, enterprise performance, and the value of information. He is also a mentor to individuals and organizations around the world.
Disclaimer: The content herein does not represent any association between CFPB and Eli Financial LLC. CFPB neither endorses any product of Eli Financial LLC nor warrants accuracy of the content hereto.