- NY Credits : 10.0
- TX Credits : 10.0
Since its introduction in 1992, COSO has been the most universally accepted framework for evaluating internal controls. When the SEC and PCAOB were implementing the Sarbanes-Oxley Act, it was the understood framework for compliance with that law. In 2013, COSO got its first major overhaul since its release two decades earlier; and it is a major change of character. The basic concepts and language of original COSO remain. However, the addition of Principles and Points of Focus dramatically change the practical implementation and application of COSO in all organizations; not just SEC filers. This course is designed to help in the understanding of the new elements and the overhaul in the use of COSO, and it goes far beyond SOX compliance.
Upon successful completion of this course, the user should be able to:
recognize the relationship of COSO and the Sarbanes-Oxley Act of 2002,
identify internal control based on the COSO study,
determine the Act's effects on the internal control system's components, and
recognize PCAOB functions and the independence of professionals affected by the Act.