COSO 2009 Monitoring Guidance Procedures & Templates

Instructor: Sonia Luna
Product ID: 701475
Training Level: Intermediate
  • Duration: 60 Min

recorded version

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Read Frequently Asked Questions

This COSO webinar will specifically cover templates that COSO has offered in its latest 2009 Monitoring Guidance.

Why Should You Attend:
In COSO's volume three of its 2009 Guidance offers several templates that can be leveraged at any organization. Attend this webinar to explore the wide variety of templates offered and the best practice efforts already being used by organizations. This seminar will cover the "Tone at the Top" and Organizational Structure monitoring examples. Learn about the importance of base lining your internal controls to determine their effectiveness. Learn how the design and execution of monitoring procedures allow management to prioritize risks, identify a limited amount of key controls, identify persuasive information needed for testing and best practices for implementing monitoring procedures.

We'll cover the detailed templates that COSO has offered in its 2009 Monitoring Guidance Vol. #3. This is the second part of a two part series which will cover technical application of templates COSO has offered in its 2009 guidance. Click here to view details of Part 1 of this series (COSO 2009 Monitoring Guidance - Learn Key Concepts for Operational and Financial Statement Controls)

We'll explore the analysis of such templates and certain concepts such as:

  • How to establish a Control Continuum?
  • What documentation is COSO requiring of management?
  • How much effort do you need for monitoring of controls?
  • How to leverage 2009 Monitoring guidance for SOX?
  • Learn what COSO wants ALL companies to be performing to create an effective monitoring program.
  • Discover how to evaluate and prioritize your monitoring efforts.
  • Leverage key priority ratings.

Areas Covered in the seminar:

  • Establishing a consistent way of communication for internal controls, Including Monitoring.
  • Use of Formal Risk Committee to Develop and Communicate Monitoring Expectations
  • Internal Audit Policy that encourages Self Assessment & Self Reporting
  • Clearly articulated roles and responsibilities through the establishment of prepare/reviewer standards (especially for Journal Entries).
  • Creating a Risk Control Function with Identifying Key Controls.
  • Clear Assignment of oversight responsibilities.
  • Learn the Effective Use of Control Baseline.
  • Linkage of formalized risk Assessment Methodology.

Who will benefit:
Webinar will be helpful for several layers of audit and governance staff such as:

  • Director of Internal Audit and Internal Audit staff
  • Audit Committee Members and Board Members
  • Controllers, VP Finance
  • CFOs and Others responsible for governance
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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