United States

The Road to Transition: COSO 2013

Wednesday March 12, 2014 11:45 AM - 12:45 PM EST
From Advisory Institute

From the Advisory Institute


Event Overview:
Most companies and entities around the world use COSO's Internal Control – Integrated Framework to document and assess their systems of internal control. In 2013, the COSO Board updated the Framework to increase its relevance amid changing business and regulatory environments. The 2013 Framework offers more explicit guidance while maintaining the flexibility required to suit a wide range of applications and business models. This discussion will include a focus on internal control over financial reporting (ICOFR). The 2013 Framework supersedes the 1992 Framework on December 15, 2014 prompting many entities to assess their current level of compliance with the 2013 Framework and develop transition plans to address any gaps. There are several areas within the 2013 Framework that will likely require some effort to remediate, through enhanced documentation, new controls, or a combination of both. This webcast will provide key insights into companies' transition to the Committee of Sponsoring Organizations of the Treadway Commission (COSO)'s Internal Control 2013 – Integrated Framework (2013 Framework), including: An overview of the 2013 Framework, including the concepts of Components, Principles, and Points of Focus, An understanding of the key differences between the original 1992 Framework and the 2013 Framework, Transition considerations for adopting the 2013 Framework from different stakeholder perspectives. Presenters on this webcast include: George Graves, KPMG partner, Internal Audit, Risk and Compliance Services Omid Yazdi, KPMG partner, Forensic Services Kenneth Le, KPMG principal, Information Technology Advisory Services Jennifer Nyhouse, KPMG director, Internal Audit, Risk and Compliance Services. One unit of CPE credit may be available to attendees who participate for the duration of the live one hour presentation.