OMB Circular A-123 and COSO 2013
A CPE seminar about practical, cost-effective compliance with Management's Responsibility for Internal Control for Federal Agencies.
The Committee of Sponsoring Organizations of the Treadway Commission (COSO) is in the process of updating their Framework, "COSO". A three volumes set of new documentation was released for public comments on September 18, 2012. See our "Recent Issues Page" for further details on these documents.
This one-day CPE seminar is designed for government accountants, auditors, section chiefs, directors, finance managers, attorneys, IT professionals and CPAs who are working on OMB A-123 compliance. Learn how agencies comply with the Office of Management and Budget (OMB) A-123. We also contrast compliance efforts with the requirements of the Sarbanes-Oxley Act which applies to public companies. Improve your Agency by Improving your Internal Controls!
OMB Circular A-123 is the Office of Management and Budget (OMB) circular that defines federal agency management's responsibilities for internal financial controls. It updated by OMB's Office of Federal Financial Management in December 2004 to address actions needed by Federal Chief Financial Officers, Chief Information Officers, and Program Managers.
This revision of A-123 called for a re-examination of the existing internal control requirements for Federal agencies and was initiated after the implementation of Sarbanes-Oxley Section 404 compliance in public companies. The Circular and the statute it implements, the Federal Managers Financial Integrity Act of 1982, are at the center of the existing Federal requirements to improve internal financial controls.
The retail cost of this CPE seminar is $495.00 for the first attendee from a single organization. Discounts are available for more than one attendee from each organization: (2) $940.00 (3) $1,340.00 (4) $1,680.00 (5) $1,980.00.
To reserve your space, click on the "SIGN-UP NOW!" link in the right margin, complete the registration form and use the corresponding "Submit Registration Form and Move to Payment Options Page" button for filing the registration and movng to the payment page.
Each attendee will receive 8 CPE Hours (YB). A certificate of completion will be provided.
Program Level of Understanding: Basic
Prerequisites: None
Advance Preparation: None
Delivery Format: Group Internet Based
NASBA Field(s) of Study: Auditing, Information Technology
CPE Credits: 8, based on 50 minutes of instruction per hour
Testimonials:
Our instructors are experts in risk management, auditing, corporate accounting, executive management, information technology and CPA firm operations. Our goal is to provide expert advice on COSO ERM, COSO, FDICIA, COBIT, NIST, ITIL, CMMI, FCPA, PCAOB standards, AICPA standards and cyber risk management.
Upcoming OMB Circular A-123 and SOX Seminars
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This Seminars is presented when requested |
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Refer to our Seminar Cities Index for a list of our seminar locations. The individual city
pages provide a listing of topics being presented. Our Seminar Cities by Week provides a
guide to the locations during a calendar week.
Benefits of Attending
The 2004 revisions to OMB’s Circular A-123 focused on management’s responsibility for internal control in federal agencies. The changes were in direct response to the Sarbanes-Oxley Act which required public companies to improve their internal controls over financial reporting. The revised circular went into effect in fiscal year 2006.
This seminar’s instructors are cost-conscious internal control experts with experience in the public and private sectors. They have helped dozens of corporations comply with the Sarbanes-Oxley Act and have presented this engaging seminar throughout the United States since the Act’s ratification in 2004. The instructors will candidly share their experience and present a pragmatic approach to compliance.
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Seminar Highlights
- The Importance of Internal Controls in Your Organization
- Best Practices Learned from the Sarbanes-Oxley Act and A-123 Compliance
- Internal Control Frameworks of COSO and COBIT
- Risk Management, Business Process Management, and Key Controls
- Testing the Effectiveness of Internal Controls
- Preventing and Detecting Fraud
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Learning Objectives
- Attendees will understand the differences between the two compliance models
- Attendees will understand internal controls and their application in federal agencies
- Attendees will learn the compliance requirements of both the OMB and SOX
- Attendees will discuss how internal controls can manage risk and reduce fraud
- Attendees will identify methods for the management of operations improvement programs
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Key Issues on the Agenda
8:30 – 8:45 a.m.
8:45 – 10:00 a.m.
10:00 – 10:30 a.m.
10:30 – 10:45 a.m.
10:45 – 12:00 p.m.
12:00 – 1:00 p.m.
1:00 – 1:45 p.m.
1:45 – 2:30 p.m.
2:30 – 3:00 p.m.
3:00 – 3:15 p.m.
3:15 – 4:15 p.m.
4:15 – 5:00 p.m. |
Registration and Coffee
What Is Internal Control?
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Definition of Internal Control by OMB and Sarbanes-Oxley
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Common Principles Between SOX and A-123
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Top-Down Methodology for Internal Control
Assessment
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Financial Cycles and Business
Processes
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Internal Control Maturity Model
The OMB Implementation Guide
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Backgrounds and Standards
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Planning
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Evaluation of Entity Controls
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Evaluation of Process Controls
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Testing
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Reporting
Break
Internal Control Frameworks
- The COSO IC Framework
- The COSO ERM Framework
- Risk Management Strategies
- COSO Guidance for Small Companies
- Business Process Mapping
- The COBIT IT Framework
LUNCH
The Sarbanes-Oxley Act
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Titles and Sections
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Corporate Responsibility and Financial Controls
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The Role of the PCAOB
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Auditing Standards
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Material Weaknesses
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Best Practices for Compliance
Analyzing Internal Controls
- Categories of Internal Control
- Key Controls
- How Do We Test the Controls?
- Using IDEA Software to Analyze Data and Controls
- Internal Control Weaknesses
- ICW Remediation
- Documenting your Assessment
Corporate Fraud
- The Fraud Triangle
- Categories of Fraud
- Why do Frauds Occur?
- Where do Frauds Occur?
- Preventing and Detecting Fraud
Break
Managing the Compliance Process
- Program Management Strategies
- Software Tools
- Overcoming Management Problems
- Best Practice Methodologies
Where Do We Go from Here?
- SOX Trickle Effect
- Role of Internal Audit
- Roadmap to Compliance
- Sustaining Compliance and Improving your Business
- Dave’s Top Ten List |
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Seminar Schedule
Internal Control & CPA Focused Training Seminars
Corporate Compliance Seminars presents two families of professional continuing education (CPE) seminars:
Internal Control & CPA Focused Training Seminars (Details)
Internal Auditor Focused Training Seminars (Details)
The internal control seminars we present can benefit a variety of attendees:
- Non-accelerated filers who may just be getting their documentation underway for Section 404 compliance,
- Public companies looking to improve their effectiveness and efficiency of their Section 404 compliance,
- Nonprofit organizations, governmental agencies and other groups that want to improve the integration of their governance, risk and compliance (GRC) efforts,
- Executives and Board of Directors members who can gain insights from our "Best Practices" examples to really understand SOX Section 404,
- Anyone finds practical advice from our real-world experience with the implementation of internal controls over financial reporting (ICFR).
The internal audit seminars we present can benefit a variety of attendees:
- The new internal auditor can be oriented to the profession and the work,
- Auditors looking for improvements in their approach and knowledge,
- Professionals looking to improve the content of their workpapers and the impact of audit reports,
- Any organization that desires to improve the effectiveness of their internal audit department,
- Audit Managers looking for education concerning current audit issues,
- Anyone finds practical advice from our real-world experience with internal and external auditing.
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Experts Providing CPE Training Events
Corporate Compliance Seminars (CCS) was created by experts who enjoy providing CPE training events. All our experts have years of experience in providing training courses, workshops and consulting on internal controls, internal auditing, information technology, cybersecurity and accounting related subjects. We have focused on SOX, COSO, PCAOB, COBIT, CMMI, GRC, GAAP, IFRS, AICPA, GAO, NAIC, ISO, and IIA Standards. We are your best source for continuing professional education (CPE).
Our programs, live in-person, webinar and on-demand, provide CPE for professionals with CPA, CGA, CIA, CFE, CISA, CMA and CA designations. CCS is focused on providing the best learning programs in using three distinct distribution channels: live in-person events, virtual webinar events and on-demand self-study e-learning.
Corporate Compliance Seminars presents CPE to a range of professionals, auditors, accountants, finance staff, compliance personnel, information technology (IT) professionals, Boards of Directors and Audit Committees. We examine the details of risk management, Sarbanes-Oxley Act compliance, Model Audit Rule (MAR) compliance, auditing, internal controls, cybersecurity and compliance, and fraud prevention and detection.
Within the U.S.A. marketplace, Corporate Compliance Seminars allows the attendee to earn NASBA CPE credit.
Our events focus on the details of the Sarbanes-Oxley Act of 2002 (SOX), Internal Controls over Financial Reporting (ICFR), Committee of Sponsoring Organizations of the Treadway Commission (COSO) Internal Control Frameworks, ISACA's Control Objectives over Information Technology (COBIT), Information Technology Infrastructure Library (ITIL), Open Compliance & Ethics Group's (OCEG) Governance, Risk & Compliance (GRC) methodology, PCAOB's Auditing Standard 5 (AS5), AICPA auditing standards, and NAIC regulatory model regulations and acts .
Our live in-person events are generally presented in a small classroom setting with two to five attendees. Over the last few weeks, we have come to the understand we need to provide distant e-learning events. We are now in the process of moving all our content to an online available status. We have created distant e-learning opportunities using both a virtual webinar event approach and on-demand e-learning self-study modules. These two e-learning approaches: webinars and on-demand self-study with extended web access to our content into the global continuing professional development (CPD) marketplace. In the webinar e-learning events we will limit the number of students to maximize the interaction between the live instructor and attendees. The on-demand self-study e-learning modules will be created and offered to meet the NASBA CPE credit requirements .
Our seminars provide CPE for the CPA, CFE, CIA, CISA, auditors and others with effective and engaging internal audit training courses.
Our instructors have had direct experience in the following industries: financial activities, bank, insurance, healthcare, construction, leisure and hospitality, professional and business services, mining and oil & gas extraction, manufacturing, educational, government agencies, transportation, software, technical, hi-tech and agricultural.
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