NAA2402. Mastering COSO and Sharing the Power of Internal Control

Understanding a company’s systems of internal controls is essential to any audit. A well-structured internal control framework promotes accountability, prevents fraud, and ensures the integrity of the reported information. Join this session for a fireside chat about the Committee of Sponsoring Organizations of the Treadway Commission’s (COSO) Internal Control-Integrated Framework and how the use of it enhances the quality of audits and the quality of reporting in the financial statements and beyond.

Learning Objectives:

• Identify the key components of the COSO framework and how they contribute to a comprehensive internal control system.
• Recognize the importance of internal controls in mitigating the risk of material misstatements, including fraud risks Distinguish how robust controls can streamline the audit process and improve audit efficiency.
• Identify real-world applications demonstrating the impact of internal controls on the audits of financial statements and other subject matters (e.g., sustainability).