Course
Overview:
Managerial leadership requires a
firm grasp of internal control architecture to ensure operational compliance,
accurate financial reporting, and effective risk mitigation. This
management-focused course provides a comprehensive exploration of the COSO
Internal Control – Integrated Framework tailored specifically for supervisors
and managers. Participants will learn how to implement the 5 components and 17
principles across business units, oversee control design, review risk-control
matrices, and manage remediation efforts for identified deficiencies.
Target
Participants
- Audit managers, supervisors, and team leads
- Financial controllers, accounting managers, and
operational supervisors
- Risk management, compliance, and SOX project managers
- Corporate governance officers overseeing departmental
internal controls
Course
Objectives
By the end of this course,
participants will be able to:
- Implement Framework Principles: Apply the COSO internal control components and 17
principles within specific operational departments.
- Supervise Process Documentation: Review and approve risk-control matrices (RCMs),
process narratives, and workflow designs.
- Oversee Control Evaluation: Direct tests of design and operating effectiveness for
manual and automated controls.
- Manage Deficiency Grading: Evaluate control exceptions and classify deficiencies
accurately based on risk impact.
- Drive Corrective Action: Collaborate with executive leadership to design,
resource, and track sustainable management remediation plans.
Course
Content / Outline
Plaintext
[ MODULE 1: Managerial Responsibility & COSO Foundations
]
│
▼
[ MODULE 2: Departmental Risk Assessment & Control
Design ]
│
▼
[ MODULE 3: Supervising Process Controls & IT Governance
]
│
▼
[ MODULE 4: Monitoring Testing & Evaluating Exceptions ]
│
▼
[ MODULE 5: Managing Remediation & Control Improvement ]
- Module 1: Managerial Responsibility & COSO
Foundations
- The role of middle management in maintaining and
supporting the internal control environment
- Cascading the COSO framework components and principles
down to operational teams
- Cultivating accountability, ethics, and a positive
"tone at the middle"
- Module 2: Departmental Risk Assessment & Control
Design
- Assisting in the identification and analysis of operational
and financial reporting risks
- Designing effective transaction-level controls and
segregating incompatible duties
- Establishing preventative versus detective controls
for routine business cycles
- Module 3: Supervising Process Controls & IT
Governance
- Reviewing process narratives, flowcharts, and
risk-control matrices (RCMs)
- Managing departmental reliance on Information
Technology General Controls (ITGCs) and system reports
- Overseeing third-party service provider risks and
outsourced operations
- Module 4: Monitoring Testing & Evaluating
Exceptions
- Supervising audit testing schedules, sample
selections, and evidence gathering
- Assessing control exceptions and determining root
causes for operational breakdowns
- Applying objective criteria to grade control deficiencies
- Module 5: Managing Remediation & Control
Improvement
- Developing practical management action plans to
address identified control gaps
- Tracking remediation milestones and verifying the
closure of prior audit findings
- Fostering a continuous improvement culture within
operational teams