COSO Control Activity

Field: Auditing | Delivery Method: Self Study | CPE Hours: 1.0

It's been more than 28 years since the Committee of Sponsoring Organizations of the Treadway Commission (COSO) released its Internal Control—Integrated Framework (the original framework). The new framework will become effective in December 2014. Professionals must first obtain a basic understanding of the concepts, principles and potential impact, including changes from the 1992 framework and the key COSO components and related principles.

COSO 2013 maintains the same five components previously identified within the 1992 framework. These include:
  • Control Environment
  • Risk Assessment
  • Control Activities
  • Information & Communication
  • Monitoring
This course is designed to focus on the Control Activity component and the three separate principles that support this component.
Control Activity is named as the third component within COSO 2013. Control Activities are actions defined through policies and procedures that help ensure management directives to mitigate risks to the achievement of objectives are carried out. Control activities are performed at all levels of the organization and at various stages of business processes and technology.
  • The organization selects and develops control activities that contribute to the mitigation of risks to the achievement of objectives to acceptable levels.
  • The organization selects and develops general control activities over technology to support the achievement of objectives.
  • The organization deploys control activities through policies that establish what is expected and procedures that put policies into place.
Management and the external auditors must understand each of these principles and be able to adequately support 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.
The course dissects the three principles and important concepts that companies need to understand and support in order to provide that the principles are in place and functioning. We also discuss concepts related to mapping the principles to controls within the organization.
Learning Objectives
  • Define the Control Activity component for COSO 2013
  • Examine the three principles supporting the control environment.
  • Analyze sixteen points of focus that supports the three principles of control activities.
  • How to utilize these points of focus most efficiently in your transition process.
  • Design of principles vs. execution – understanding the critical difference.
  • Proper mapping for control activities.


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 spanning public accounting, industry accounting and consulting. Sixteen years of that experience has been in the field of internal audit, risk managment and process improvement. She is well adept to assist your organization evaluate business strategy, perform risk assessments, establish a Sarbanes-Oxley process, synergizing internal audit processes or perform process improvement projects.


As a past corporate executive Lynn has a passion for working with professionals to enhance their processes and provide leading edge education. She has authored and delivered hundreds of training courses for accounting, finance and audit professionals. Her training is filled with not just theory but real world application.


Ms. Fountain has authored three technical publications:

-Leading the Internal Audit Function 

-Raise the Red Flag

-Ethics and the Internal Auditor's political dilemma


Lynn is a recognized leader in the internal audit profession as well as a recognized business professional.  


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 Control Activity
Available in days
days after you enroll

Frequently Asked Questions


When does the course start and finish?
The course starts now and never ends! It is a completely self-paced online course - you decide when you start and when you finish.
How long do I have access to the course?
How does lifetime access sound? After enrolling, you have unlimited access to this course for as long as you like - across any and all devices you own.
What if I am unhappy with the course?
We would never want you to be unhappy! If you are unsatisfied with your purchase, contact us in the first 30 days and we will give you a full refund.

Get started now!