book

Executive's Guide to COSO Internal Controls: Understanding and Implementing the New Framework

Name: Executive's Guide to COSO Internal Controls: Understanding and Implementing the New Framework
Author: Robert R. Moeller
ISBN: 9781118626412

by Robert R. Moeller

December 2013

Intermediate to advanced

304 pages

10h 44m

English

Wiley

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Cover
Series
Title Page
Copyright
Preface
Chapter 1: Importance of the COSO Internal Control Framework
THE IMPORTANCE OF ENTERPRISE INTERNAL CONTROLSWHAT ARE ENTERPRISE INTERNAL CONTROLS?UNDERSTANDING THE COSO INTERNAL CONTROL FRAMEWORK: HOW TO USE THIS BOOK
Chapter 2: How We Got Here: Internal Control Background
EARLY DEFINITIONS OF INTERNAL CONTROLS: FOREIGN CORRUPT PRACTICES ACT OF 1977THE FCPA AND INTERNAL CONTROLS TODAYEVENTS LEADING UP TO THE TREADWAY COMMISSIONEARLIER AICPA AUDITING STANDARDS: SAS NOS. 55 AND 78THE TREADWAY COMMITTEE REPORTTHE ORIGINAL COSO INTERNAL CONTROL FRAMEWORKTHE SARBANES-OXLEY ACT AND INTERNAL ACCOUNTING CONTROLSNOTES
Chapter 3: COSO Internal Controls: The New Revised Framework
UNDERSTANDING INTERNAL CONTROLSREVISED FRAMEWORK BUSINESS AND OPERATING ENVIRONMENT CHANGESTHE REVISED COSO INTERNAL CONTROL FRAMEWORKCOSO INTERNAL CONTROL PRINCIPLESCOSO OBJECTIVES AND BUSINESS OPERATIONSSOURCES FOR MORE INFORMATION
Chapter 4: COSO Internal Control Components: Control Environment
IMPORTANCE OF THE CONTROL ENVIRONMENTCONTROL ENVIRONMENT PRINCIPLE 1: INTEGRITY AND ETHICAL VALUESCONTROL ENVIRONMENT PRINCIPLE 2: ROLE OF THE BOARD OF DIRECTORSCONTROL ENVIRONMENT PRINCIPLE 3: THE NEED FOR AUTHORITY AND RESPONSIBILITYCONTROL ENVIRONMENT PRINCIPLE 4: HUMAN RESOURCE STRENGTHSCONTROL ENVIRONMENT PRINCIPLE 5: INDIVIDUAL INTERNAL CONTROL RESPONSIBILITIESCOSO CONTROL ENVIRONMENT IN PERSPECTIVE
Chapter 5: COSO Internal Control Components: Risk Assessment
RISK ASSESSMENT COMPONENT PRINCIPLESRISK IDENTIFICATION AND ANALYSISRISK RESPONSE STRATEGIESFRAUD RISK ANALYSISCOSO RISK ASSESSMENT AND THE REVISED INTERNAL CONTROL FRAMEWORKNOTES

Chapter 6: COSO Internal Control Components: Control Activities
COSO CONTROL ACTIVITY PRINCIPLESCOSO CONTROL ACTIVITIES TODAY
Chapter 7: COSO Internal Control Components: Information and Communication
INFORMATION AND COMMUNICATIONS: WHAT HAS CHANGED?INFORMATION AND COMMUNICATION PRINCIPLE 1: USE OF RELEVANT INFORMATIONINFORMATION AND COMMUNICATION PRINCIPLE 2: INTERNAL COMMUNICATIONSINFORMATION AND COMMUNICATION PRINCIPLE 3: EXTERNAL COMMUNICATIONSTHE IMPORTANCE OF COSO INFORMATION AND COMMUNICATIONNOTES
Chapter 8: COSO Internal Control Components: Monitoring Activities
IMPORTANCE OF COSO MONITORING INTERNAL CONTROL ACTIVITIESCOSO MONITORING PRINCIPLE 1: CONDUCT ONGOING AND SEPARATE EVALUATIONSCOSO MONITORING PRINCIPLE 2: EVALUATE AND COMMUNICATE DEFICIENCIESCOSO INTERNAL CONTROL MONITORING IN PERSPECTIVENOTE
Chapter 9: COSO Internal Control GRC Operations Controls
COSO OPERATIONS OBJECTIVESPLANNING AND BUDGETING OPERATIONS CONTROLSIT SYSTEMS OPERATIONS CONTROLSOPERATIONS PROCEDURE CONTROLS AND SERVICE CATALOGSIMPORTANCE OF COSO OPERATIONS CONTROLSNOTE
Chapter 10: COSO Reporting Processes
COSO REPORTING OBJECTIVESCOSO EXTERNAL FINANCIAL REPORTING CONTROLSCOSO INTERNAL FINANCIAL REPORTING CONTROLSCOSO EXTERNAL NONFINANCIAL REPORTING CONTROLSCOSO INTERNAL NONFINANCIAL REPORTING CONTROLSIMPORTANCE OF COSO REPORTING CONTROLSNOTE
Chapter 11: COSO Legal, Regulatory, and Compliance Objectives
IMPORTANCE OF ENTERPRISE COMPLIANCE CONTROLSREGULATORY COMPLIANCE CONTROL ISSUESINTERNAL CONTROLS AND LEGAL ISSUESCOMPLIANCE WITH PROFESSIONAL AND OTHER STANDARDS
Chapter 12: Internal Control Entity and Organizational GRC Relationships
INTERNAL CONTROLS FROM AN ORGANIZATIONAL GRC PERSPECTIVEENTERPRISE GOVERNANCE OVERALL CONCEPTSBUSINESS ENTITY–LEVEL INTERNAL CONTROLSDIVISIONAL AND FUNCTIONAL UNIT INTERNAL CONTROLSDEPARTMENT- AND UNIT-LEVEL INTERNAL CONTROLSORGANIZATION AND GRC CONTROLS IN PERSPECTIVENOTE
Chapter 13: COSO, Service Management, and Effective IT Controls
IMPORTANCE OF IT GENERAL CONTROLSIT GOVERNANCE GENERAL CONTROLSIT MANAGEMENT GENERAL CONTROLSCLIENT-SERVER AND SMALLER SYSTEMS GENERAL IT CONTROLSITIL SERVICE MANAGEMENT BEST PRACTICESSERVICE DELIVERY BEST PRACTICESNOTES
Chapter 14: Cloud Computing, Virtualization, and Wireless Networks
INTERNAL CONTROLS FOR IT WIRELESS NETWORKSCLOUD COMPUTING AND COSO INTERNAL CONTROLSSTORAGE MANAGEMENT VIRTUALIZATIONCOSO INTERNAL CONTROLS AND NEWER TECHNOLOGIESNOTE
Chapter 15: Another Framework: COSO ERM
ERM DEFINITIONS AND THE ERM PORTFOLIO VIEW OF RISKTHE COSO ERM FRAMEWORK MODELOTHER DIMENSIONS OF THE ERM FRAMEWORKCOSO ERM AND THE REVISED INTERNAL CONTROL FRAMEWORKNOTES
Chapter 16: Understanding and Using COBIT
AN EXECUTIVE’S INTRODUCTION TO COBITUSING COBIT TO ASSESS ENTERPRISE INTERNAL CONTROLSMAPPING COBIT TO COSO INTERNAL CONTROLSNOTES
Chapter 17: ISO Internal Control and Risk Management Standards
BACKGROUND AND IMPORTANCE OF ISO STANDARDS IN A GLOBAL COMMERCE WORLDISO STANDARDS OVERVIEWISO STANDARDS AND THE COSO INTERNAL CONTROL FRAMEWORKNOTES
Chapter 18: COSO Internal Controls in the Board Room
BOARD DECISIONS AND INTERNAL CONTROL PROCESSESBOARD ORGANIZATION AND GOVERNANCE RULESCORPORATE CHARTERS AND THE BOARD COMMITTEE STRUCTURETHE AUDIT COMMITTEE AND MANAGING INTERNAL CONTROLSBOARD MEMBER INTERNAL CONTROL KNOWLEDGE REQUIREMENTSCOSO INTERNAL CONTROLS AND CORPORATE GOVERNANCENOTES
Chapter 19: Service Organization Control Reports and COSO Internal Controls
IMPORTANCE OF SERVICE ORGANIZATION INTERNAL CONTROLSEARLY STEPS TO GAIN ASSURANCE: SAS 70SERVICE ORGANIZATION CONTROL (SOC) REPORTSRIGHT-TO-AUDIT CLAUSESINTERNAL CONTROL LIMITATIONS
Chapter 20: Implementing the Revised COSO Internal Control Framework
UNDERSTANDING WHAT IS NEW IN THE 2013 FRAMEWORKTRANSITIONING TO THE NEW COSO GUIDANCESTEPS TO BEGIN IMPLEMENTING THE NEW COSO INTERNAL CONTROL FRAMEWORK
Index

Content preview from Executive's Guide to COSO Internal Controls: Understanding and Implementing the New Framework

Index

Accountability

Accounting for internal controls

Acquisition, development, and maintenance processes

AICPA developed processes

AICPA SAS No. 1

AICPA's Auditing Standards Board (ASB)

American Institute of Certified Public Accountants (AICPA)

Analyst conflicts of interest

Andersen Consulting

Application controls

Application records management reporting controls

Audit committees

Auditing practices for external auditors

Auditing Standard No. 5 (AS No. 5)

Auditor independence

Authority and responsibility management requirements

Authorizations and approvals

Availability management objectives

Basic principles that support enterprise COSO internal controls

Benchmarking and peer evaluations

Board of directors

committees

decisions

responsibilities

risk oversight responsibilities

role

senior management reporting

Budget function interactions

Budgeting processes

Budget performance monitoring

Budget planning processes

Business operations internal controls

Business processes

Business unit–level documented procedures

Changes in the new revised COSO framework

Chief compliance officer roles

Client-server architecture

Client-server general controls

Cloud computing

internal controls

Cloud service providers

COBIT

enablers

general architecture

objectives mapping

Principle 1

Principle 2

Principle 3

Principle 4

Principle 5

Principles

Code acknowledgments

Codes of conduct

Codes of ethics

Cohen Commission

Commitment to competence

Committee of Sponsoring Organizations (COSO)

Communication

concepts ...

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Executive's Guide to COSO Internal Controls: Understanding and Implementing the New Framework

by Robert R. Moeller

Become an O’Reilly member and get unlimited access to this title plus top books and audiobooks from O’Reilly and nearly 200 top publishers, thousands of courses curated by job role, 150+ live events each month,
and much more.