The Controls Framework site and courses are based on the updated COSO Internal Control Integrated Framework Exposure Draft 2011. Michael Piazza, Controls Framework publisher and director, gives a brief overview of the COSO concepts that are the foundation for the information and training that will be developed and presented on the site.
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The Committee of Sponsoring Organizations (COSO) released the updated Internal Control Integrated Framework Exposure Draft December, 2011. The new framework takes a principles based approach to applying control concepts, with underlying attributes to each of the principles. Though the basic definition of internal control and the framework components remained consistent with the COSO 1992 publication, the model has been significantly expanded in the updated release. Controls Framework has created a series of courses to instruct the concepts and applications of the new framework, with sections targeted for specific organizational members' level of needs and understanding.
View the new COSO based courses from Controls Framework
The continuing evolution of governance guidelines and related publications has increased the awareness of the assurance dynamics of internal control systems and processes. The most recent release of the King Code of Governance (King III) by the Institute of Directors of South Africa places a heavy reliance upon all assurance providers for a uniform and balanced approach to internal control assurance, resulting in a comprehensive combined assurance model. Controls Framework is pioneering courses on the combined assurance concepts and applications, with individual courses strategically aimed at specific assurance providers.
View the new Combined Assurance courses based on COSO and the King III Code of Governance
The new COSO Internal Control Integrated Framework Exposure Draft December, 2011 expands the concepts and applications of the 1992 framework. The new framework contains 17 basic principles applied to the five components of the framework hierarchy, new and expanded component definitions, with attributes supporting each of the component principles. Controls Framework has posted some of the critical items from the new exposure draft for quick access by internal control professionals, executives and other governance members including: the definition of internal control; definitions, principles and attributes of the components; objectives and objective setting concepts; limitations of internal control; roles and responsibilities of internal and external parties.
