COSO 2013 – Monitoring

The fifth and final component of COSO 2013 CPE = 1

The fifth and final component of COSO 2013, this course focuses on the two separate principles and related points that support the Monitoring component.

COSO 2013 maintained the same five components previously identified within the 1992 framework. These include:
  • Control Environment
  • Risk Assessment
  • Control Activities
  • Information & Communication
  • Monitoring
Monitoring represents ongoing or separate evaluations--or some combination of the two--used to ascertain whether each of the five key COSO components of internal control are present and functioning.
Simply put, monitoring refers to your organization’s ability to observe the effectiveness of the daily operation of controls, individually and in cooperation with other controls. Management as well as external auditors must understand each of these principles and be able to validate that they exist, are appropriately designed and functioning. In addition, the components must effectively work in combination to provide for a positive attestation to internal controls.
This course covers:
  • Principles supporting the Monitoring component
  • Articulation of points of focus supporting the monitoring component
  • Understanding how to utilize the POF most efficiently in your transition process
  • Differentiation between principles and execution
  • How Monitoring supports other COSO components


Field: Auditing
CPE: 1
Delivery Method: Self-Study
Format: Video




Your Instructor


Lynn Fountain
Lynn Fountain

Consultant, CPA, CGMA, CRMA, MBA, Past Chief Audit Executive
Business Consultant, Trainer, Author

Ms. Fountain has over 40 years of experience in the business profession, which includes public and industry accounting and over 20 years within internal and external auditing combined. She is a nationally recognized trainer and speaker and also a published author. She is a subject matter expert and specializes in Internal Audit, Sarbanes-Oxley, Enterprise Risk Management, Fraud, Governance and Compliance. Ms. Fountain has held two Chief Audit Executive positions for international companies. She currently performs consulting for companies on internal audit, risk management, internal controls, SSAE 18, financial reporting and accounting along with performing training. She has also been instrumental in the establishment of ERM, Sarbanes-Oxley and Governance frameworks.

Ms. Fountain has authored a publication for the Institute of Internal Auditors Research Foundation (IIARF) titled “Raise the Red Flag – The Internal Auditors Guide to Fraud Evaluations”. The publication will be released April 20, 2015. In addition, she is authoring a publication for Auerbach on “The Realities of performing the Chief Audit Executive Role”. The publication will be released in the Fall 2015. In addition, she has performed as an adjunct instructor for the School of Business for Grantham University and the School of Business at the University of Kansas.

Ms. Fountain obtained her BSBA from Pittsburg State University and her MBA from Washburn University in Kansas. She has active, current CPA, CGMA, and CRMA credentials.


https://www.lynnfountain.net/


Course Curriculum


  COSO 2013 - Monitoring
Available in days
days after you enroll

Frequently Asked Questions


When does the course start and finish?
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