Operationalizing COSO Compliance to Enhance Your Control Environment and Contribute to SOX Efforts

Why Should You Attend:

This course will examine the COSO attributes and 17 components and talk about what procedures need to be considered to move the framework to an operational stage that also address compliance issues (far beyond internal control over financial reporting ICFR) It will examine how organizations can apply the 17 new principals outlined in the 2013 COSO framework within their business. It will take the discussion far beyond financial reporting.

Areas Covered in the Webinar:

• Examine and evaluate the driving force behind COSO 2013 and suggested applications beyond ICFR.
• Dissect COSO attributes and principles to identify their application to operational and compliance processes.
• Learning to operationalize your risk appetite statement and aligning risk and controls beyond ICFR.
• Obtaining organizational buy-in and support for extension of the framework to operational and compliance processes.
• The benefit of expanding visibility of the COSO framework to the entire organization.

Who Will Benefit:

• Auditors
• Compliance Professionals
• Legal Professionals
• Board of Directors
• CEOs
• CFOs
• All Professionals

Instructor Profile:

Lynn Fountain has over 30 years of experience in the business profession including public and industry accounting, leadership, compliance, governance and internal/external audit. Her career has included serving in the capacity of chief audit executive for two international companies. Her initiatives in internal audit and enterprise risk management have been highlighted in various professional publications.

She specializes in various aspects of internal audit, Sarbanes-Oxley, ERM, fraud, governance and compliance. Ms. Fountain is a highly recruited international trainer and speaker for multiple conference groups and the IIA. Over the past 3 years she has hosted two e-workshop series for the IIA on fraud and ethics. Her book “Raise the Red Flag – The Internal Auditors Guide to Fraud Evaluations” will be released in March 2015. Her second book “The Realities of Performing the CAE Role” will be released in the fall of 2015. She is also a frequent blogger on LinkedIn and has had multiple blogs featured on LinkedIn Pulse.

Ms. Fountain received her BSBA from Pittsburg State University and her MBA degree from Washburn University. She holds her CGMA and CRMA credentials and also holds her CPA certificate in Kansas (non-practicing).

Topic Background:

Much has changed since 1992 when the COSO framework was originally issued; market globalization has become the norm. Expectations for governance and risk management have soared in the wake of corporate scandals such as Enron and WorldCom. And in addition, laws, regulations and standards for conducting business have increased exponentially.

While the 2013 COSO framework retains the core components you are familiar with there is an increased focus on non-financial controls and reporting objectives. No longer is it acceptable to ignore operations in regards to the COSO framework. Today, the concepts and principals of COSO 2013 must be applied across the entire organization. However, applying these concepts across operations and compliance has proven to be very challenging for many organizations.

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