Courses

Internal Control Concepts

This course is designed to serve as an introductory course for all organizational members involved in internal control design, development, enforcement or applications. The Committee of Sponsoring Organizations (COSO) Integrated Framework of Internal Controls is explored in detail with cases and exercises which allow participants to gain a deep understanding of each of the COSO control categories of objectives and the components/points of focus of the COSO framework. Emphasis is placed on the Control Environment with a detailed exercise applying the concepts that make this component the most critical of all of the components.

Participants will gain a solid foundation of the COSO framework and related applications.

Internal Control Applications

Designed as an extension of the concepts course, this course is more case and exercise oriented where the principals and concepts of the COSO framework are applied and discussed. A main case follows the COSO model from Control Environment to Risk Assessment to the design of Control Activities. Participants will explore the concepts of stakeholder value and related goal and objectives development, followed by risk assessment and related control activities. Participants should have a working knowledge of the COSO framework to attend this course.

Participants will gain a working knowledge and applications base for the objective categories and the components of the COSO framework through case/exercise applications.

Risk Based Controls Activities Analysis

For participants who have a fundamental knowledge of the COSO framework and its applications, this course is a case based course which challenges participants to view all control activities from a risk based perspective. Case situations are presented where the participants will have to relate the control activity to an organizational goal or objective in the case materials and identify the potential risks that would prohibit the accomplishment of the objectives, and then design/develop control applications to mitigate the risks. Designed to be attended by organizational managers, executives, auditors or others charged with controls review, development and/or recommendation for improvement.

Participants will gain an in-depth exposure to analyzing controls from a risk based approach by applying risk assessment techniques in a cased based simulation.

Introduction to Enterprise Risk Management

Designed for participants who have a firm working knowledge of the COSO Integrated Framework of Internal Control but who have not explored the expansion of the COSO Enterprise Risk Management (ERM) Framework. The design presumes a working knowledge of internal controls. The concepts of the ERM model are presented with the prior COSO model as a foundation for the expanded concepts. More attention is given to the expanded components of risk assessment with emphasis given to the expanded categories of objectives and how they constitute entity wide objectives and related control objectives. Designed to be attended by organizational managers, executives, auditors or others charged with controls review, development and/or recommendation for improvement.

Participants will gain introductory knowledge to the expanded concepts of the COSO Enterprise Risk Management model and apply the basics of the concepts in cases and exercises.

To have a fully functional internal control structure, all elements of the organization must be involved in internal control design and applications. External and internal governance is examined related to the impact on organizational development and control relationships. The key elements of the COSO Control Environment is examined in-depth and applied in case/exercises to explore the complex relationships of internal controls and how they are executed at all levels of the organization. Great emphasis is placed on formal control relationships as well as informal organizational and control relationships. Designed to be attended by organizational managers, executives, auditors and others responsible for the control framework and its functions throughout the organization. This session is more of a round table executive approach, participants should be prepared to submit and discuss “real world” examples and challenges.

Participants will gain an expanded horizon on the formal and informal communications and internal control relationships from the top level of the governance chain to the lowest level of control applications.

Controls Over Fraud, Waste and Abuse

Control failures can result in dramatic losses to the organization in the form of thefts, embezzlements, pilferage, waste and abuse. Audit and other counter measures to these problems are effective but are generally nominal in size and coverage relative to the potential for perpetrating these actions. This course emphasizes the symptoms of fraud, waste and abuse, the risks and behaviors that underlie and occur, and effective control applications to reduce the risk of these actions. Since systems do not commit these actions but people do, most of the case/exercises deal with behaviors and how to recognize the potential for misuse. Intended for managers, executives and auditors involved in maximizing scarce resources and minimizing loss due to fraud, waste and abuse, particularly in public sector and not-for-profit organizations. Practical guides and approaches are delineated.

Participants will gain a perspective on the definitions and symptoms among fraud, waste and abuse and explore though case work how to recognize these symptoms and build controls to minimize the occurrences of defalcations.

Internal Control Communications and Corrective Action

Efficient and effective controls are dynamic, not static. Organizations change, systems and procedures change, as does staffing at all levels. In order to effectively communicate control deficiencies and ensure corrective action, a strong support for control and an effective communications mechanism must be in place. This course examines the new COSO publication on Monitoring and Communication and seeks practical examples and solutions from the participants. A case approach is used to examine communication barriers, resistance to change, and other deterrents to timely corrective action to controls deficiencies. Designed for operating managers, executives and auditors involved in monitoring and evolving the organization’s controls effectiveness.

Participants will gain an exposure to the latest COSO pronouncement dealing with Information and Communication and explore practical solutions to overcome communications problems and related resistance to change that prohibit effective corrective action to internal controls deficiencies.