Internal Control–Integrated Framework - Vermont

?2019 CliftonLarsonAllen LLP

Internal Control?Integrated Framework

COSO Framework

WEALTH ADVISORY | OUTSOURCING | AUDIT, TAX, AND CONSULTING

Investment advisory services are offered through CliftonLarsonAllen Wealth Advisors, LLC, an SEC-registered investment advisor

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?2019 CliftonLarsonAllen LLP

Learning Objectives

? Participants will be able to: ? Summarize the basic COSO framework. ? Identify the controls required of government financial managers. ? Differentiate between control components, principles and characteristics. ? Apply the COSO framework to the business processes of the State.

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?2019 CliftonLarsonAllen LLP

Table of Contents

? COSO & Project Overview ? Internal Control-Integrated Framework ? Illustrative Documents

? Illustrative Tools for Assessing Effectiveness of a System of Internal Control ? Internal Control over External Financial Reporting: A Compendium of Approaches and examples ? Transition & Impact ? Recommended Actions ? Questions & Comments

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?2019 CliftonLarsonAllen LLP

COSO & Project Overview

WEALTH ADVISORY | OUTSOURCING | AUDIT, TAX, AND CONSULTING

Investment advisory services are offered through CliftonLarsonAllen Wealth Advisors, LLC, an SEC-registered investment advisor

?2019 CliftonLarsonAllen LLP

COSO Overview ? Internal Control Publications

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