- 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. This intermediate level course is most appropriate for the professional with detailed knowledge of the COSO framework and internal controls or the professional seeking to expand his or her knowledge in this area.
Included with subscription(s):
Upon successful completion of this course, the user should be able to:
recognize the conceptual framework and unique issues for governmental accounting and reporting,
explain the characteristics of each fund type and why funds are used in government,
explain the history of governmental accounting standard setting,
identify the five types of funds in the governmental category,
describe the governmental proprietary fund classifications used for financial reporting,
explain the GASB guidance for using fiduciary funds,
define the significant characteristics and components of the governmental reporting model, and
describe the primary objectives and strategy for managing governmental services.