Wednesday, June 28, 2017

Re-Discovering the COSO Framework on Internal Controls

Focus & Features

As auditors and compliance professionals, we often associate the concept of “good internal controls” from a financial accounting and administrative controls standpoint.  Over the years and with the occurrence of major accounting frauds and internal control failures from Blue Chip Companies marked early on as “Too Big to Fail” entities, various standard-setting bodies have attempted to reinvent and redefine the concept of “Internal Controls” to address the concerns on the lapses by various compliance professionals.  The Committee of Sponsoring Organizations of the Treadway Commission or “COSO,” as an established standard-setting body, provided a common framework in the understanding and establishment of effective internal controls in all business systems.


What You Will Learn

This seminar’s purpose is to provide internal auditors and compliance professionals on the basic understanding of internal controls from the COSO Framework (2013) point of view and its interrelationship between Company Objectives, Components and Entity Structure.  The discussion will detail on the key components or levels and principles (italicized) of internal control:

  1. Control Environment
    • Commitment to integrity and ethical values,
    • Independent board of director’s oversight,
    • Structures, reporting lines, authorities and responsibilities,
    • Attract, develop, and retain competent people,
    • People held accountable for internal control,
  2. Risk Assessment
    • Clear objectives specified,
    • Risks identified to achievement of objectives,
    • Potential for fraud considered,
    • Significant changes identified and assessed,
  3. Internal Control Activities
    • Control activities selected and developed,
    • General IT controls selected and developed,
    • Controls developed through policies and procedures,
  4. Information and Communication
    • Quality information obtained, generated, and used,
    • Internal control information internally communicated,
    • Internal information externally communicated,
  5. Monitoring Activities
    • Ongoing and/or separate evaluations conducted, and
    • Internal control deficiencies evaluated and communicated.
  6. Case Studies and Group Presentation


Who Should Attend

This course is appropriate for auditors at all levels.


Facilitator: Mr. Paul Ryan M. Balon, CPA, CIA, CISA

                     Internal Audit Practitioner


Schedule: 29 July & 5 August 2017

Time: 8:30am – 5: 00 pm

Venue:  St. Giles Hotel, Makati Ave., Makati City


Seminar Investment: 

Member’s Rate: Php9,000

Non-Member’s Rate: Php12,000


No. of CPE Credits : 18*

* IIA Certifications

*BOA Accredited CPD Provider


Seminar Inclusions:

  • Seminar Kit
  • Certificate of Participation
  • AM & PM Snack, Buffet Lunch


How to Enroll:

  •  email at or fax to 325.0414
  • call us at 940.9551 loc. 18 and look for Sheena Malapitan or  Thei Mendoza
  • Click here to register online