COSO/Internal Control

The Revised COSO Framework - Objectives, Components, Relevant Principles, and Points of Focus

Course Overview:
In this program, you will learn about the revised COSO Framework as issued in 2013 by focusing on the Framework's objectives, components, relevant principles and points of focus. The five components of internal control are linked to the 17 relevant principles and the 77 points of focus in order to explain and illustrate how the relevant principles and points of focus demonstrate an effective system of internal control. This program is Part 2 of a four-part series addressing the revised COSO Framework.

Learning Objectives:

After completing this course, the course participant should be able to:
  • Define internal control and discuss what is meant by an effective internal control system.
  • Identify the three primary COSO Framework objectives (operations, reporting, and compliance).
  • Identify the primary changes in the revised COSO Framework.
  • Recognize the COSO Framework's components, relevant principles and points of focus and how they interrelate to demonstrate an effective system of internal control.

  • Prerequisites/Advanced Preparation:

    Basic knowledge of accounting and auditing

    Speaker / Author:

    John M. Fleming, CPA, MBA, is currently the Director, Content Development for SmartPros LTD, a division of Kaplan Professional Education. SmartPros is an international educational and training company specializing in accounting, finance and ethics educational programs. John previously served as President and Director of Accounting and Auditing for LOSCALZO ASSOCIATES, a division of SmartPros for twenty-eight years. John retired as President of Loscalzo Associates on January 1, 2014.

    John’s prior practice experience includes audit, tax, consulting, office management, and human resource responsibilities with Deloitte LLP, Richard Eisner & Company LLP, and Ernst & Young LLP. John is a graduate of LaSalle and Drexel Universities with degrees in accounting and finance.

    John, a Pennsylvania CPA, served as the 1999/2000 President of the 8,300 member Greater Philadelphia Chapter of the Pennsylvania Institute of Certified Public Accountants (PICPA) and currently serves as a member of the Institute’s Accounting and Auditing Technical Committee. In 2006, the PICPA recognized John as a Joseph E. Sterrett Fellow for his contributions to the accounting profession and in 2007, the Philadelphia Chapter recognized John with their Champion Award for his contributions to the PICPA, Chapter, profession and community. John has also served as the 2002/2003 President of the American Accounting Association’s Mid-Atlantic Region.

    John and his wife Marge live in Medford, New Jersey.


    Price (USD)

    Standard: $24.95


    Course Code : 99FLE17-tx

    Release Date : 05/16/2014
    Expire Date : 04/30/2023
    Credits :
    CPE 1.00
    QAS 1.00

    Course Level : Basic
    Course Type : New Standards
    Length : 50min
    Passing Grade : 70%
    Field Of Study : Accounting
    Theme : COSO/Internal Control

    Format Type : eLearning
    Mobile Compatible

    Included In

    Returning Subscribers

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