A complimentary training on practical guidance to implement the COSO 2013 Framework was held in both Pittsburgh and Columbus. On April 10, in the Pittsburgh Schneider Downs office, Jim Yard and Trudie Kozar of Schneider Downs presented their knowledge and tools to an audience of 60 internal audit and finance professionals from the Pittsburgh area. Trudie and Jim also presented on April 16 to an audience of 50 professionals in Columbus.
The new COSO 2013 Framework has continued to be a hot topic in the internal audit world. Schneider Downs has a dedicated COSO technical team to assist companies with the interpretation of the Framework and an approach for implementation. We have seen many organizations utilize a COSO mapping tool to assist in the implementation of the new Framework. Schneider Downs has become an industry leader offering guidance in migrating to the new Framework.
The training offered details on what is changing in the new framework, thought leadership on approach for implementation, application of the framework to internal controls over financial reporting, practical examples to achieve the 17 COSO principles, discussion on our detailed COSO mapping tool and detailed steps and timeline for implementation. We also utilized live, real-time polling that gave the audience the chance to see how their peers are approaching this implementation in regards to timing, level of effort and other details.
The audience in both trainings provided great feedback and appreciated the practical guidance and detailed examples for each COSO principle, since other trainings that they have attended on this topic have been very high level. It was also a great opportunity for networking and knowledge sharing between these professionals.
The Schneider Downs’ COSO technical team can answer your questions and assist your company in implementing the COSO 2013 Framework. Please contact Jim Yard or Trudie Kozar of our Internal Audit and Risk Advisory Services Team, with any questions.
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