Application of the COSO Framework to Internal Controls and Risk Assessment

Cost: $150 (working lunch provided)

Trainer: Katherine Eilers, CPA, Manager, Nonprofit and Government Practice, Wipfli LLP

Target Audience: CFOs and fiscal staff  

Internal controls are emphasized even more in the new Uniform Guidance. Establishing the COSO framework in your agency will ensure that you are meeting your responsibility to maintain effective internal control as well as staying in compliance with audit requirements. This session will focus on how an auditor analyzes internal controls throughout the audit process, how to establish best practices for internal control (COSO framework) both in practice and in your policies. We will also cover why it’s important for management to have a sufficient understanding of processes, procedures, and controls in performing Risk Assessments.

Learning Objectives:

• Determine how COSO has changed the way the audit process reviews internal controls.
• Identify best practices in policies and procedures as a result of the impact of COSO and 2 CFR Part 200 (Uniform Guidance).
• Apply COSO framework to identified internal controls in areas of financial management and procurement.
• Determine how COSO impacts Risk Assessments conducted by agencies in the areas of Procurement and Finance.

CPE credits for day one: 5.0 credits*

ADDITIONAL INFORMATION

• Advanced Preparation: None
• Level: Intermediate
• Prerequisite: Accounting / Finance Experience
• Field of Study: Accounting / Audit / Risk
• Instructional Delivery: Group-Live

* Wipfli LLP is registered with the National Association of State Boards of Accountancy (NASBA) as a sponsor of continuing professional education on the National Registry of CPE Sponsors. State boards of accountancy have final authority on the acceptance of individual courses for CPE credit. Complaints regarding registered sponsors may be submitted to the national Registry of CPE Sponsors through its website: www.NASBARegistry.org.

Cancellation Policy: Cancellations made before 10/23/17 will be refunded. If you cancel, you may send a substitute from your organization by notifying Jess Benedetto at jessbenedetto@masscap.org. Participants who register but neither attend or cancel are charged for their full registration fee. Email jessbenedetto@masscap.org for questions about this policy.

Complaint Resolution: For more information regarding administrative policies, such as complaint, cancellation, and refund policies, please contact Jess Benedetto, MASSCAP Training and Resource Manager, at jessbenedetto@masscap.org.

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