COSO Update for the Public Sector

Ottawa, Ontario · October 23, 2014
7:30 - 8:30 Registration and Continental Breakfast 7:30 - 8:30

8:30 - 8:40
Welcome and Opening Remarks from the Facilitator
8:30 - 12:00
Introduction of the New COSO Publications
  • Internal Control-Integrated Framework: Framework and Appendices
  • Illustrative Tools for Assessing Effectiveness of a System of Internal Control
  • Internal Control over External Financial Reporting: Compendium of Approaches and Examples
Understanding the New COSO Framework
  • Examine the requirements of the new COSO
  • Demonstrate how it differs from the existing COSO Internal Control Framework
  • Explore the reasoning behind these changes
Transitioning to the New COSO Framework
  • Assess how much work is involved in making the transition
  • Demonstrate how to transition to the new COSO with the least amount of disruption
  • Examine tools and strategies that you can take back to the office
  • Discuss the nuances of the new COSO in your organization
  • Get answers to all of your COSO questions
12:00 - 1:00 Luncheon Break 12:00 - 1:00

Mastering Best Practices in Internal Control Programs
  • Exploring the future of Internal Control Programs
  • Examine the best practices in Internal Control Programs
  • How the Internal Control Programs are evolving
  • Lessons to be learned from the earlier years of SOX/CSOX
  • Are Internal Control Programs meeting the objectives
  • Regulators review of the quality of internal control assessments by the accounting firms
Building a Strong and Efficient Internal Control Environment
  • Internal control environments and control categories
  • Benchmark controls against acceptable internal control frameworks such as COSO and COBIT
  • Practical top-down, risk-based approach to the design and establishment of internal controls
  • Design and evaluation of disclosure controls
  • Document and evaluate entity level controls
  • Documentation and evaluation of spreadsheet controls
  • Enhancement of contract management controls
  • Efficient risk-based techniques in documenting and testing transactional level controls
  • Anti-fraud controls
  • Optimize internal control programs and achieve significant savings by focusing on real issues
4:30 End of Training Seminar 4:30

The release of the new COSO framework has presented professionals like yourself with a number of challenges. You have to understand what has changed in the new COSO, why these changes have been made, how these changes will impact your organization, how much work will be involved in transitioning, and how to transition as efficiently as possible.

This one-day training seminar has been designed to teach you everything you need to know about the new COSO in a single day. Our facilitator, Massood Oroomchi will provide you with a thorough understanding of the incoming changes, and show how the new COSO will impact your organization. You will walk away from the seminar with the tools and strategies you need to make the transition effectively. You will also have opportunities to answers to all of your questions and discuss specific challenges that your organization is grappling with.

Transitioning to the new COSO framework is one of the biggest challenges you'll confront in 2014. Make sure that you understand what you're up against and how to proceed. Join us in Ottawa to find out what has changed with COSO, and how to transition efficiently. Register today!

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