COSO Internal Control

Internal controls are processes designed to help safeguard an organization and minimize risk to its objectives. Internal controls minimize risks and protect assets, ensure accuracy of records, promote operational efficiency, and encourage adherence to policies, rules, regulations, and laws.

Designing and implementing an effective Internal Control System can be challenging, and adapting to rapidly changing business models, new technologies, or globalization requires that system to be agile. An internal control system requires the use of judgment to monitor and assess its effectiveness, and it must provide insight into the application of controls. This training course is designed to provide participants with the necessary knowledge and concepts on designing, implementing, and conducting an internal control system.

• Gain a comprehensive understanding of the key concepts and principles of COSO’s Internal Control.
• Identify the roles and responsibilities within an organization related to internal control.
• Recognize and analyze risks.
• Develop confidence in the internal control system.
• Apply concepts of the framework with regard to control environment, risk assessment, control activities, information and communication, and monitoring activities to a variety of organizational examples in achieving operations, reporting, and compliance objectives.