| Title: |
COSO's ERM Framework |
| Prerequisite: |
None |
| Advance Preparation: |
Bisk GAAS Guide |
| Knowledge: |
Intermediate |
| Subject Matter Area: |
Auditing |
| Date of Publication: |
June 2007 |
| Copyright: |
© 2007 by Bisk Education, Inc. All rights reserved. |
| Recommended CPE Credits: |
1 QAS/Registry (based on 50-minute hour) |
| Expiration Date: |
One year from date of receipt to complete program and submit quizzer to obtain credit |
| Passing Grade for Quizzer: |
70 percent or higher |
The Committee of Sponsoring Organizations of the Treadway Commission (COSO) issued guidance titled Internal Control—Integrated Framework in 1992. This guidance was meant to help organizations assess and enhance their internal control systems around operational effectiveness and efficiency, reliable financial reporting, and compliance with laws and regulations. This course examines the COSO's Enterprise Risk Management—Integrated Framework and how it relates to the COSO's earlier report Internal Control—Integrated Framework.
Note: Reporting of CPE credit to a CPA's state board is the responsibility of the CPA. Subscribers to CPE Network Accounting & Auditing Report may not receive duplicate credit for this material, which previously aired in the June 2007 edition of this program.
This text is divided into three chapters:
Chapter 1 discusses COSO's Enterprise Risk Management—Integrated Framework.
Chapter 2 contains a review of the design of a system of internal control.
Chapter 3 contains review problems that help illustrate the topic.
Jennifer F. Louis, CPA, is President of Training Services at Emergent Solutions Group, LLC. She has more than 14 years of experience in designing and instructing high-quality training programs. Most recently, Ms. Louis was executive vice president and director of training services at AuditWatch Inc., a premier training and consulting firm serving the auditing profession.