COSO-Based Internal Auditing-Mumbai


Date and Time:

December 21, 2018 9:30 AM - 5:30 PM

Event Location:

Hotel Orchid, Mumbai, India

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Achromic Point and IIA India take this opportunity to inform and invite you in our upcoming seminar on “COSO-Based Internal Auditing” in Mumbai on December 21, 2018 at Hotel Orchid, Vile Parle.

This seminar examines how a principles-based approach can be used to design, implement, maintain, and evaluate a system of internal controls. You will have an opportunity to discuss the implications that the updated Framework presents to the internal audit profession and to individual internal audit activities. You will also identify opportunities for using the updated Framework in your internal audit process and increase the value of your assurance and consulting services.

* 8 CPE Hours
* Certificate from IIA India
* IIA Training Material (Global Content)

Topics being covered
Session 1
COSO Frameworks: The Basics
  • Discuss COSO background/history.
  • Examine COSO’s definitions of Internal Control and ERM.
  • Review COSO Internal Control and ERM objectives and components.
  • Discuss the updated COSO Internal Control from an internal audit perspective.
  • Understand the relationship between Governance, Risk Management and Internal Control.
  • Discuss the IA implications for “Turning the Principles into Positive Action.”
Session 2
COSO Internal Control: A Closer Look
  • Review Control Environment Principles.
  • Examine Risk Assessment and Control Activities Principles.
  • Discuss Information/Communication and Monitoring Activities Principles.
  • Demonstrate the importance of “soft controls.”
  • Discuss the “Three Lines of Defense in Effective Risk Management and Control.”
  • Examine the implications for Internal Auditors.
Session 3
COSO ERM: A Closer Look
  • Compare COSO ERM factors and Internal Control principles.
  • Understand key ERM concepts and terms.
  • Discuss “ERM Risk Assessment in Practice/Thought Leadership.”
  • Examine the implications for Internal Auditors.
Session 4
IPPF & COSO Framework Connections
  • Show where IPPF Standards and the COSO Frameworks are connected – and discussing potential opportunities/challenges for Internal Auditors.
  • Examine a COSO-based Internal Audit process.
  • Use IPPF and IIA resources to develop COSO-based IA tools.
Session 5
COSO-Based Audit and Engagement Planning 
  • Compare approaches and techniques used establish the IA activity’s risk-based plan and priorities.
  • Compare tools and techniques used to plan IA engagements.
  • Apply COSO-based practices on overall IA activity and individual engagement planning case studies.
Session 6
Using COSO in Performing the Work
  • Discuss the COSO-based skills and practices used in performing the work.
  • Examine the types of information that may be needed to support conclusions.
  • Compare approaches used to evaluate soft controls.
  • Demonstrate how to use COSO in root cause analysis.
  • Use COSO-based practices on case study applications.
Session 7
Using COSO in Communicating the Results 
  • Compare approaches and techniques used to communicate individual engagement and overall IA activity results.
  • Use COSO-based practices on case study applications.
  • Discuss opportunities to increase that value of IA services and emerging issues.

  • Huzeifa Unwala
    Senior Partner, JHS & Associates LLP
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