Exam Preparation
COSO ICCOSO Internal ControlIntegrated Framework
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English
Intermediate
FACE 2 FACE
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Course Overview
Effective internal control is a management-owned system that supports the achievement of objectives, safeguards assets, ensures reliable reporting, and promotes compliance with laws and regulations. The COSO Internal Control – Integrated Framework provides a principles-based structure for designing, implementing, and maintaining internal controls that are integrated into day-to-day operations rath
Key Takeaways
1
Explain internal control concepts and distinguish between objectives, risks, controls, deficiencies, and issues.
2
Apply the COSO Internal Control Framework to design and evaluate an integrated system of internal control.
3
Assess the effectiveness of control environment and risk assessment practices.
4
Evaluate control activities, information flows, and monitoring mechanisms for sustainability and reliability.
5
Support management and board oversight through structured internal control evaluation and continuous improvement.
Institute of Management Accountants
Founded in Buffalo, N.Y. in 1919, the Institute of Management Accountants (IMA) is the worldwide association of accountants and financial professional working in business. Whilst representing more than 70,000 professional members, IMA is committed to promote knowledge and professionalism among cost accountants and foster a wider understanding of the role of cost accounting in management. In this regard, IMA’s mission is to provide a forum for research, practice development, education, knowledge sharing and the advocacy of the highest ethical and best business practices in management accounting and finance. IMA achieves its main goal through: » Offering a rigorous, highly respected credential – the CMA – that recognized and rewards expertise » Building a peer network of professional relationships to share industry experience, access career opportunities, and make business contacts to last a lifetime » Providing extensive education programs to advance professional knowledge, increase leadership potential and satisfy CPE requirements » Giving a voice to the profession with insightful and timely journals and newsletters » Promoting leading-edge research and industry best practices » Advocating for the profession in a challenging regulatory environment.
Course Outline
Internal Control Fundamentals, Governance, and Control Environment
Internal Control Fundamentals
- What is internal control?
- Internal control as a system, not a checklist
- Internal control objectives: Operations; Reporting; Compliance
- Relationship between objectives, risks, controls, and issues
- Difference between:
- Risks
- Control deficiencies
- Issues and incidents
Roles and Responsibilities
- Board of directors and audit committee
- Executive management and senior leadership
- Process owners and control owners
- Internal audit and other assurance providers
Control Environment Component
- Integrity, ethics, and tone at the top
- Board independence and oversight
- Organizational structure, authority, and accountability
- Competence, performance management, and discipline
Case Study & Group Exercise
- Assessing the control environment of a sample organization
- Identifying governance weaknesses and cultural red flags
Risk Assessment and Control Activities
Risk Assessment Component
- Specifying objectives clearly
- Identifying and analyzing risks to objectives
- Fraud risk considerations
- Assessing changes in internal and external environments
- Linking risks to control design
Control Activities Component
- Purpose of control activities
- Preventive vs detective controls
- Manual, automated, and IT-dependent controls
- Segregation of duties and mitigating controls
- Policies, procedures, and authorization controls
Control Design Considerations
- Key versus non-key controls
- Control precision, frequency, and ownership
- Common control design failures
Case Study & Group Exercise
- Mapping objectives → risks → controls
- Evaluating whether controls adequately address identified risks
Information, Communication, and Monitoring
Information and Communication Component
- Identifying relevant and quality information
- Data integrity and reliability
- Internal communication of control responsibilities
- External communication and reporting expectations
Monitoring Activities Component
- Ongoing vs separate evaluations
- Identifying control deficiencies
- Root causes and corrective actions
- Management’s role in monitoring
Internal Control Deficiencies
- Design vs operating effectiveness issues
- Significant deficiencies vs material weaknesses
- Management response and remediation
Case Study & Group Exercise
- Reviewing monitoring results and control failures
- Classifying deficiencies and proposing remediation actions
Evaluation, Assurance, and Integrated Application
Evaluating Internal Control Effectiveness
- Component- and principle-level assessment
- Management self-assessments
- Using COSO for internal control maturity evaluation
Role of Assurance Functions
- Internal audit’s role in internal control evaluation
- Coordination with external auditors
- Combined assurance perspective
Integrated Internal Control Application
- End-to-end view of an internal control system
- Linking governance, risk assessment, control activities, information, and monitoring
- Using internal control insights for decision-making and governance
Who Should Attend?
Board members and audit committee members
Chief audit executives and internal audit leaders
Internal audit managers and internal audit staff
Risk management and governance professionals
Compliance, finance, and control owners responsible for internal controls
FAQ
What language will the course be taught in and what level of English do I need to take part in a LEORON training program?
Most LEORON courses are delivered in English. However, there are some courses offered in Arabic, mainly online. For our in-house courses, sessions can be curated and delivered in any language upon request. In general, the best way to confirm language availability is to check with our Enrollment Managers for the most up-to-date information. Simply click on “Let’s talk on WhatsApp” to chat with us directly.
What formats are the courses offered in?
LEORON delivers training in various formats including face-to-face, live virtual sessions, self-paced learning, in-house delivery as well as online courses.
Are LEORON Public courses certified by an official body/organization?
Yes, most LEORON public courses are accredited by internationally recognized bodies such as CIPD, ATD, PMI, IMA, EdEx, and many others—depending on the course.
Who accredits LEORON’s training programs?
LEORON partners with over 20 international bodies such as PMI, CIPD, ATD, IMA, EdEx, NASBA, CISI, GARP, HRCI, SHRM, ACCA, ASQ, IIA, ILM, IAC, and others
Are CPD points or PDUs provided?
Yes, learners can earn CPD credits and professional development units (PDUs) including NASBA CPEs, PMI PDUs, CISI, GARP, HRCI, SHRM, and more.
How can I register for a course?
You can register through our website by filling in the inquiry form, or by speaking directly with one of our consultants via WhatsApp or email. Once we confirm your interest, we’ll guide you through the steps.
When is the registration deadline for public courses?
Registration typically closes 14 days before the course start date, with occasional late registrations accepted upon confirmation
What is included in the course fee?
The fee generally covers 5-star venue facilities, training materials, certified instruction, lunches and refreshments, plus certification and membership where applicabe.
Are there group rates or discounts?
Yes, group bookings and corporate-level discounts are available. Learners are encouraged to reach out to discuss specific arrangements
What support is available with registration?
Enrollment Managers and a Registration Desk assist with the entire process, including deadlines, travel logistics, and course customization. As well as any other special requests you might have. Simply to go your preferred course and click on “Let’s chat on WhatsApp” to do so.
Can I request a bespoke course at my location or within my organization?
Yes, in-house training is fully customizable in terms of curriculum, language, delivery, and timing. You can suggest dates and locations. Simply to go your preferred course and click on “Let’s chat on WhatsApp” in order to address any questions or concerns in this regards.
What is the refund or cancellation policy?
Refund and cancellation policies vary depending on the course type and location. Generally, cancellations made at least 14 days before the course start date may be eligible for a full or partial refund, while cancellations made closer to the course date may incur a fee. For exact terms, please consult your Enrollment Manager or refer to the course confirmation email.
Can I register multiple employees from my company?
Yes. We support group registrations and offer corporate packages for organizations enrolling multiple participants. Our team can help coordinate the logistics for group bookings.
Who should attend these courses?
LEORON caters to a variety of professionals: from those seeking leadership development to project managers, HR specialists, finance professionals, cybersecurity, procurement, Ai enthusiasts and many others.
Do I need prior experience or academic qualifications?
Not always. Many specialized paths, like cybersecurity, accept learners without prior experience. However, some courses (e.g., PMI PDU-based ones) may have recommended prerequisites. Its always better to chat with one of our Enrollment Managers to discuss more. Simply to go your preferred course and click on “Let’s chat on WhatsApp” to do so.
Will I receive a certificate after completing the course?
Yes. Upon full attendance and successful completion, you will receive a certificate of participation or accreditation, depending on the course.
Are meals and refreshments included in face-to-face courses?
Yes. For in-person courses, lunch and coffee breaks are provided daily at the venue.
Can LEORON deliver a course in-house at our organization?
Absolutely. All programs can be delivered privately at your company or virtually for your team, customized to match your internal goals and structure.