2009 COSO Monitoring Guidance an Overview

Instructor: Sonia Luna
Product ID: 701516
Training Level: Intermediate
  • Duration: 60 Min

recorded version

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Read Frequently Asked Questions

This COSO Webinar will discuss the 2009 COSO monitoring guidance and how its best practices can benefit a company.

Why Should You Attend:
COSO is the leading framework US companies use to comply with SOX. This is the latest guidance offered by COSO to promote a more effective monitoring program, not only for sox compliance but other areas of the COSO framework.

COSO rarely issues guidance and the last one we have seen was in 2006 and related to only smaller public companies. Now this new guidance issued in 2009, gives practical examples of how to monitor both your operational controls and financial statement controls. This guidance covers what is required for documentation and who should be reviewing it from both a company's perspective and also independent auditor's perspective. We'll explore the several templates that relate to COSO's best practice items such as:

  • How to start an effective Risk-Based Audit?
  • Who should perform the monitoring of controls.
  • How to document your findings.
  • Leverage priority ratings to maximize your time in an audit

We'll cover the overview of why this guidance was issued, what are the benefits offered by COSO in this new 2009 Guidance. We'll explore several aspects of the three published volumes such as:

  • What is a control benchmark process.
  • How to implement a control benchmarking environment.
  • How to prioritize audit plans.
  • How to leverage key templates offered in the guidance to specific industries (i.e. software/technology, manufacturing etc.)

We'll explore how to leverage this guidance to decrease compliance costs for SOX.

Areas Covered in the seminar:

  • Sub certification Templates: What COSO offers as key certification requirements.
  • Learn how much is enough for evidence when collecting data using COSO's 2009 Guidance.
  • Learn best practices on risk assessment for sox.
  • Provide Companies with lowering key controls.
  • Learn what's required for control benchmarking.
  • Understand best practice documentation.
  • Learn how to document changes in your control structure.
  • Provide templates of Quarterly Sub-Certifications issued by COSO.

Who will benefit:
Webinar will cover the overview of the 2009 COSO Monitoring guidance which will demonstrate practical tips you can leverage today to lower your sox compliance costs. We'll cover templates that COSO offers in its guidance and how to use them in every sox compliance process.

  • Director of Internal Audit and Internal Audit staff
  • Audit Committee Members and Board Members
  • Controllers, VP Finance
  • CFOs and Others responsible for governance
  • Consultants
  • Chief Audit Executives
Instructor Profile:
Sonia Luna, CPA, CIA is the founder of SOX Solutions, the only boutique consulting firm specializing in sox effort, headquartered in Southern California. Ms. Luna offers over 12 years of internal and external audit experience and having completed over 30 SOX engagements she is one of the leading authoritative authors for courses offered by Compliance Online and other continue education organizations.
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