Operationalizing COSO
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Operationalizing COSO

This course examines the COSO attributes and 17 components and speak to what procedures need to be considered.
0.0 (0 ratings)
Instead of using a simple lifetime average, Udemy calculates a course's star rating by considering a number of different factors such as the number of ratings, the age of ratings, and the likelihood of fraudulent ratings.
0 students enrolled
Last updated 8/2017
English [Auto-generated]
Current price: $10 Original price: $100 Discount: 90% off
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  • 5 hours on-demand video
  • 2 Articles
  • 3 Supplemental Resources
  • Full lifetime access
  • Access on mobile and TV
  • Certificate of Completion
What Will I Learn?
  • Explore the driving force behind the 2013 Committee of Sponsoring Organizations (COSO) Internal Control Framework and suggested applications beyond Internal Control Over Financial Reporting (ICFR).
  • Discover the benefits of applying the COSO framework to the entire organization.
  • Identify each of the COSO attributes and principles and recognize their application to operational and compliance processes.
View Curriculum
  • No Advanced Preparation or Prerequisites are needed for this course.

When the Committee of Sponsoring Organizations (COSO) released the COSO 2013 Framework, they specifically stated their intent that the framework be utilized for more than just Internal Control Over Financial Reporting (ICFR). Many companies have undergone and completed the mapping processes for the 17 principles to the ICFR controls.  They must now examine how the framework can move into the operational stage.

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 laws, regulations and standards for conducting business have increased exponentially.

While the 2013 COSO Internal Control 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 principles 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.


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

Who is the target audience?
  • Anyone interested in finance, accounting, risk management
Compare to Other Risk Management Courses
Curriculum For This Course
20 Lectures
18 Lectures 04:57:33

Governance, Globalization and Business Models

Laws, Accountabilities, Fraud

COSO Principles: Application to Operation/Compliance Processes

Control Environment

Principle One and Two

Principles Three, Four and Five

Risk Assessment

Principles Six and Seven

Principle Eight

Principle Nine

Control Activities

Principle Ten

Principle Eleven

Information and Communication

Monitoring and Summary

Moving COSO to Operationalization Stage Continuous Play
Supporting Materials
2 Lectures 00:03
Slides: Moving COSO to Operationalization Stage

Moving COSO to Operationalization Stage Glossary/Index
Review and Test
0 Lectures 00:00

Review Questions: Moving COSO to Operationalization Stage

Review Questions
6 questions

FINAL EXAM: Moving COSO to Operationalization Stage

10 questions
About the Instructor
Illumeo Learning
4.4 Average rating
322 Reviews
1,365 Students
242 Courses
Condensed and Efficient Courses for Busy Professionals

Illumeo, incorporated in 2009, is revolutionizing the hide-bound world of corporate learning. Illumeo works with corporate professionals and organizations of all sizes to build the skills and capabilities that help everyone be an expert at their job.

Based in Silicon Valley, CA, Illumeo serves thousands of corporations and corporate professionals across Finance, Accounting, Human Resources, Sales and Marketing. The platform offers assessments, industry-benchmarked competency analyses, hundreds of expert-developed courses, collaborative tools, and the ability for companies to self-publish internal courses that promote institutional knowledge retention and dissemination.

Illumeo is the place for expertise management and we are dedicated to the proposition that everyone can be an expert at their job.

Lynn Fountain (Illumeo)
4.6 Average rating
17 Reviews
89 Students
31 Courses

Ms. Fountain has over 30 years of experience in the business profession, which includes public and industry accounting and over 20 years within internal and external auditing combined. She is a nationally recognized trainer and speaker and also a published author. She is a subject matter expert and specializes in Internal Audit, Sarbanes-Oxley, Enterprise Risk Management, Fraud, Governance and Compliance. Ms. Fountain has held two Chief Audit Executive positions for international companies. She currently performs consulting for companies on internal audit, risk management, internal controls, financial reporting and accounting along with performing training. She has also been instrumental in the establishment of ERM, Sarbanes-Oxley and Governance frameworks

Ms. Fountain has developed and delivered leading edge training sessions on COSO, Internal Audit, ERM, Accounting, Leadership, Governance, Compliance and Ethics. She has numerous recorded webinars on Illumeo dot com.

Ms. Fountain has authored a publication for the Institute of Internal Auditors Research Foundation (IIARF) titled “Raise the Red Flag – The Internal Auditors Guide to Fraud Evaluations”. The publication will be released April 20, 2015. In addition, she is authoring a publication for Auerbach on “The Realities of performing the Chief Audit Executive Role”. The publication will be released in the Fall 2015. In addition, she has performed as an adjunct instructor for the School of Business for Grantham University and the School of Business at the University of Kansas.

Ms. Fountain obtained her BSBA from Pittsburg State University and her MBA from Washburn University in Kansas. She has her CGMA, CRMA credentials and CPA certificate.