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Hotel Radisson GRT, Chennai – 15th December,2016

Leveraging COSO internaL COntrOLS FramewOrk tO DeSign anD impLementiFC

• 8 CPE Hours

• Networking Opportunities

• Qualified CIA Faculty

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abOut the SeminarThe COSO Internal Control–Integrated Framework is the original framework that has gained broad acceptance and is widely used around the world. In the 20 years since its inception, business and operating environments have changed drastically (i.e., more technologically driven, more global, more complex), which has driven the need for an updated Framework.This course examines how a principles-based approach can be used to design, implement, maintain, and evaluate a system of internal controls.COSO framework is relevant to both CFO, Chief Accounts officer and finance and accounting professionals as they need to adopt the framework and implement and test the same. Post which internal auditors can use the same framework in testing the controls and giving an assurance to management, board, regulators and stakeholders at large on design effectiveness and operating effectiveness of controls. You will have an opportunity to discuss the implications that the updated Framework presents to the Internal Audit Profession and to individual Internal Audit activities. You will also identify opportunities for using the updated Framework in your Internal Audit process and increase the value of your assurance and consulting services.

beneFitS OF attenDingThis course is an opportunity for :-

• InternalAuditorstodevelopthelevelofknowledgeoftheCOSOframeworksneededtocarryouttheir roles and responsibilities.

• InternalAuditactivitiestoutilizetheCOSOframeworksintheirauditprocess.

whO ShOuLD attenD• CFO's• Chief Account Officer• Finance and Accounting Professionals• CAE's• Audit Managers• Experienced Auditors• Anyone Involve in Designing or Evaluating Interrnal Control

Control Activities

Information & Communication

Monitoring Activities

Using the COSO Internal Control Integrated Framework

COSO Internal Control - Integrated Framework (IC-IF) - Overview

Risk Assessment & Control Environment

• Provide an overview of COSO Integrated internal controls framework

• Discuss the attributes of internal control as it relates to COSO.

• Discuss the three categories of objectives for internal control.

• Describe the key requirements for effective internal control.

• Describe the key components, principles, and points of focus in the COSO Internal Control – Integrated Framework (IC-IF).

• Discuss on how COSO framework can be leveraged for designing and implementing IFC

• Review a supplemental resource that can be used to determine implications for internal auditors

• Describe the key concepts of the four risk assessment principles.

• Compare and contrast the COSO IC-IF with the COSO Enterprise Risk Management (ERM) – Integrated Framework.

• Discuss the approach and methodology in analyzing risks and prioritization

• Discuss the importance of fraud risk assessment in COSO

• Discuss on how risk assessment principle can be utilized in IFC

• Discuss on how internal auditors should consider results of risk assessment when planning and conducting audits.

• Describe the key concepts in the five control environment principles.

• Evaluate controls related to the control environment principles.

• Determine whether the principles related to the control environment component are present and functioning.

• Discuss how control environment principles can be leveraged in designing /testing entity level IFC Controls

• Discuss control environment implications that internal auditors should consider when planning and conducting audits.

• Describe the key concepts in the three control activities principles.

• Discuss the types of control and mix of control activity types

• Discuss general controls over technology and its relevance in today’s ERP environment

• Describe how COSO framework and control principles can be adopted in designing and testing control activities for IFC

• Discuss how internal auditors can contribute in strengthening internal controls in an organization as third line of defense

• Describe the key concepts in the three information and communication principles.

• Evaluate controls related to the information and communication principles.

• Describe types of information and communication channels and its effectiveness

Discuss how information and communication forms anintegral part of IFC

• Discuss the types of reporting and communication to various stakeholders by internal auditor.

• Describe the key concepts of the two monitoring activities principles.

• Evaluate controls related to the monitoring activities principles.

• Discuss the importance of monitoring controls to establish a strong IFC

• Discuss testing of monitoring controls by internal auditor

• Describe how COSO internal control integrated framework can be adopted

• Deliberate on how and why COSO framework adoption is implicit in maturing organization

• Describe the approach to adopt COSO framework in designing and testing IFC.

• Discuss how internal auditors can use COSO framework as a guidance to assess the maturity of control environment in any organization

PROGRAM OUTLINE/AGENDA

SPEAKERS

Giridhar Janardana Past President, IIA Madras ChapterPartner, BlueRidge Consulting ServicesAnchor - COSO Training

Giridhar holds a Bachelor’s degree in Business Management (BBM), is a qualified Chartered Accountant (CA) from ICAI India, is a Certified information Systems Auditor (CISA), US and is a Lead Auditor (ISO 27001), BSI, UK.

Giridhar has over 15 years of experience in the field of Business Process Consulting, ERM, IA, Corporate governance, SoX, Operational Audits, Application reviews, Revenue Assurance, process reviews.

K Vidhyadharan President, IIA IndiaPartner, Mountbatton & Co

Senior Chartered Accountant with 35 years of Professional Experience and has Served in very Large Industries for 12 years. He is practicing Experience of 23 years.

Vidhyadharan is Rank Holder in CA Intermediate. He is Specialising in Internal Audit, Financial Mgt, Due Diligence and is a Guest Faculty in 6 major Institutions. He has presented Technical papers in National & International Seminars/Conferences and has Obtained Best Paper Award from ICAI. He is Senior Vice President of The Institute of Internal Auditors India, Mumbai, affiliated to IIA Inc, Florida, USA.

A R Parthasarathy Past President, IIA Madras Chapter &Partner, RGN Price & Co

Finance professional with over 17 years experience in the area of Business Performance Improvement, Enterprise Risk Management and Process Control Reviews.

He has advised clients in the area of Cost Control, Off-shoring Strategy, Sarbanes Oxley readiness and ERP implementations. Specialties: Risk Management, Internal Audit, Internal Financial Controls (IFC/ICFR), Sarbanes Oxley Advisory, Control Reviews, Forensic Audits and Compliance. As a President of the Madras Chapter, was involved in organising Conferences, Seminars and Training events, advocating the profession of Internal Audit to fellow professionals in the accounting and finance field.

P K RanganathanPresident, IIA Madras Chapter &CFO, Hinduja Foundries Ltd

Ranganathan has awarded Financial Leadership Award in 2012 by Institute of Public Enterprises, Hyderabad for his stellar role in Hinduja Foundries as CFO. Under his leadership, AL has achieved the “Best Firm of the year Award” in 2014-15 for Enterprise Risk Management practices awarded by CNBC TV18 & ICICI Lombard Ins. Co.

He has achieved ISO 27001-2013 Version Certification in 2015 for Information Security function of AL – the first AutomotiveCompany in India to achieve this distinction. Currently with Ashok Leyland, the Automobile Major in India, as Head(Vice President) of Governance function s comprising of IA, Risk Management & Information Security. Working with AL since Nov 1985 – 30 years’ experience in almost all functions in IA, Finance & Leadership positions; also handled Secretarial & Legal functions.

Cancellation and Refund Policy

You must notify us by email at least 48 hours in advance if you wish to send a substitute participant. Delegates may not “share” a pass between multiple attendees without prior authorization. If you are unable to find a substitute, please notify Achromic Point Consulting (APC) in writing up to 10 days prior to the conference date and a credit voucher valid for 1 year will be issued to you for the full amount paid, redeemable against any other APC conference. No credits or refunds will be given for cancellations received after 10 days prior to the conference date. APC reserves the right to cancel any conference it deems necessary and will not be responsible for airfare‚ hotel or other costs incurred by registrants. No liability is assumed by APC for changes in program date‚ content‚ speakers‚ or venue.

Terms & Conditions:-

Achromic Point holds all the rights to circulate and distribute the information discussed, shared and presented at the seminar.

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Conferencefeesincludedocumentation,luncheonandrefreshments.DelegateswhoattendallsessionswillreceiveaCertificateofAttendance.

Leveraging COSO Internal Controls Framework to Design and Implement IFC

RegistrationFees:-Regular Price - INR 11,500 + ST IIA Members - INR 10,500 + ST

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15th December – Chennai

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