This COSO webinars (2 modules) will discuss on the new 2009 COSO Guidance for Monitoring issued recently to promote more effective monitoring program for public companies.
Why Should You Attend:
COSO is the leading framework US companies use to comply with SOX. COSO has recently issued its new 2009 Guidance for Monitoring which has been rarely adopted by companies. 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.
ComplianceOnline presents a 2 part series webinar which covers starting from basic overview to best practices in documentation, discussion on procedure and templates. It explores on the concepts of 3 volumes offered in the COSO 2009 guidance.Our expert trainer Sonia Luna will take you through details of the following in these 2 webinars
Module1:COSO 2009 Monitoring Guidance - Learn Key Concepts for Operational and Financial Statement Controls
(October 30, Friday 10:00 AM PDT | 01:00 PM EDT)
- Why the guidance was issued?
- Who should apply the guidance?
- How does the guidance effect other COSO Materials already issued?
- What does the guidance NOT provide to a reader?
- Learn what COSO wants ALL companies to be performing to create an effective monitoring program.
- Discover who should perform the monitoring of controls.
- How to leverage priority ratings.
Areas Covered in the seminar:
Discussion on the three volumes offered in the 2009 Monitoring Guidance, which include:
- Overview Volume, which we explore:
- Purpose of the guidance
- Nature & Purpose of Monitoring
- A Basic Model for Monitoring
- Vol. #2: the "APPLICATION" we will discuss:
- How Monitoring is a Component of the Internal Control System
- Establish a Foundation for Monitoring
- Design and Execute Monitoring Procedures (an Overview)
- Assess and Report Results
- Dealing with "Other Considerations"
- Learn about COSO Sub-certification templates offered.
- How to deal with "Scalability Based on Size".
- Best Practices that COSO wants you to incorporate for the level of formality of your documentation.
- How this new guidance applies to other 2006 COSO guidance issued for smaller public companies.
Module2:COSO 2009 Monitoring Guidance Procedures & Templates
(November 05, Thursday 10:00 AM PDT | 01:00 PM EDT)
- 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.
