This framework is developed by a team of former McKinsey and Big 4 consultants. The presentation follows the headline-body-bumper slide format used by global consulting firms.
Explore the COSO Framework PPT, crafted by ex-McKinsey & Big 4 consultants. Enhance governance, risk mgmt., and internal controls with actionable insights. COSO Framework is a 28-slide PPT PowerPoint presentation slide deck (PPTX) available for immediate download upon purchase.
As the business and operating environment changes, there has been greater demand for transparency and accountability as to the integrity of internal control. This has become very critical today as businesses drive to enhance the likelihood of them achieving their objectives and be able to adapt to changes in the global business environment.
The Committee of Sponsoring Organizations of the Treadway Commission (COSO) released in 1992 the Integrated Internal Control Framework that will enable organizations to effectively and efficiently develop and maintain systems of internal control. It also includes enhancements and clarifications that will provide organizations the ease of using and applying the Framework.
This presentation provides organizations the blueprint to guide them through towards making the necessary changes in the adaption of the COSO Framework. There are 5 components within the COSO Framework.
1. Control Environment
2. Risk Assessment
3. Control Activities
4. Information and Communication
5. Monitoring Activities
These 5 components have its respective underlying principles to provide clarity in designing and implementing systems of internal control and for understanding requirements for effective internal control. Board of Directors, CEOs, and other senior management must have an in depth understanding of the COSO Framework components for effective internal control.
This deck also includes slide templates for you to use in your own business presentations.
This comprehensive deck delves into the COSO Framework's application across various organizational levels, detailing its role in governance, risk management, and internal control. The presentation outlines how the framework supports decision-making processes, mitigates risks, and enhances operational efficiency. It provides actionable insights and practical templates for implementation, making it an indispensable resource for senior management and boards of directors aiming to fortify their internal control systems. The content is designed to be adaptable, ensuring relevance across different industries and organizational structures.
The COSO Framework consists of 5 key components essential for a robust internal control system: Control Environment, Risk Assessment, Control Activities, Information and Communication, and Monitoring Activities. These components interact to support organizational objectives, categorized into Operations, Reporting, and Compliance. The framework's effectiveness depends on alignment with the organizational structure. Additionally, the COSO Framework outlines 17 principles that guide businesses in implementing effective internal controls. Adopting this framework enhances governance and risk management practices, aids in compliance, and improves operational efficiency, serving as a comprehensive guide for aligning objectives with strategic goals.
Internal Control, as defined by the COSO Framework, is a dynamic and integrated process essential for achieving organizational objectives in operations, reporting, and compliance. It is enacted by an organization’s Board of Directors, Management, and personnel to provide reasonable assurance regarding specific objectives. Internal Control is not merely policies or procedures; it requires active participation from individuals at all levels. It encompasses ongoing tasks and activities, serving as a means to an end. Effective Internal Control relies on human actions and decisions rather than just documentation. The assurance provided is reasonable, not absolute, setting realistic expectations for senior management and the board. Additionally, Internal Control can be tailored to various organizational structures, enhancing its applicability across different contexts.
This PPT slide focuses on "Monitoring Activities" within the COSO framework, essential for effective internal control. Key elements include integrating monitoring activities into business processes at all levels to provide timely information for decision-making. Evaluations vary in scope, frequency, and depth based on specific risk assessments, suggesting a tailored monitoring approach. Ongoing evaluations are critical for verifying that internal control components function as intended. Timely communication of identified deficiencies is necessary for swift corrective actions, maintaining the integrity of the internal control system. This proactive stance is vital for robust governance and risk management practices.
This PPT slide focuses on the "Control Environment" component of the COSO framework, highlighting its role in establishing a robust internal control system. Key elements include the integrity and ethical values of the organization, which influence behavior and decision-making. The board of directors' governance responsibilities are supported by a clear organizational structure and defined authority, essential for accountability and operational efficiency. Attracting, developing, and retaining skilled individuals is vital for maintaining effective controls. Performance measurement, including rigorous incentives and rewards, drives accountability and aligns with organizational objectives. The organization must demonstrate a commitment to integrity, with an independent board overseeing internal control development and performance, while management establishes oversight structures and individual accountability for internal control responsibilities.
The COSO Framework enhances internal control across organizations, applicable to management, boards of directors, and external stakeholders. It promotes a principles-based approach, allowing tailored internal control measures that foster flexibility and judgment in design and implementation. Key requirements focus on the interrelation of components and principles, crucial for risk management. External stakeholders gain confidence in board oversight and organizational objectives. The framework clarifies internal control requirements, vital for adapting to changing business environments. It provides a structured approach to internal control while encouraging the elimination of inefficiencies and recognizing unique organizational challenges for robust implementation.
Source: Best Practices in Risk Management, Governance, Compliance, Control PowerPoint Slides: COSO Framework PowerPoint (PPTX) Presentation Slide Deck, LearnPPT Consulting
This framework is developed by a team of former McKinsey and Big 4 consultants. The presentation follows the headline-body-bumper slide format used by global consulting firms.
For $10.00 more, you can download this document plus 2 more FlevyPro documents. That's just $13 each.
ABOUT FLEVYPRO
This document is part of the FlevyPro Library, a curated knowledge base of documents for our FlevyPro subscribers.
FlevyPro is a subscription service for on-demand business frameworks and analysis tools. FlevyPro subscribers receive access to an exclusive library of curated business documents—business framework primers, presentation templates, Lean Six Sigma tools, and more—among other exclusive benefits.
The average daily rate of a McKinsey consultant is $6,625 (not including expenses). The average price of a Flevy document is $65.
Trusted by over 10,000+ Client Organizations
Since 2012, we have provided business templates to over 10,000 businesses and organizations of all sizes, from startups and small businesses to the Fortune 100, in over 130 countries.
"FlevyPro provides business frameworks from many of the global giants in management consulting that allow you to provide best in class solutions for your clients."
– David Harris, Managing Director at Futures Strategy
"Last Sunday morning, I was diligently working on an important presentation for a client and found myself in need of additional content and suitable templates for various types of graphics. Flevy.com proved to be a treasure trove for both content and design at a reasonable price, considering the time I
saved. I encountered a download issue during the ordering process. However, a quick email to Flevy's support team, even on a Sunday (!!!), resulted in assistance within less than an hour, allowing me to download the content I needed. Fantastic job, Flevy! I give 5 stars for both content/price and customer service. Thank you!
"
– M. E., Chief Commercial Officer, International Logistics Service Provider
"Flevy is our 'go to' resource for management material, at an affordable cost. The Flevy library is comprehensive and the content deep, and typically provides a great foundation for us to further develop and tailor our own service offer."
– Chris McCann, Founder at Resilient.World
"I have used Flevy services for a number of years and have never, ever been disappointed. As a matter of fact, David and his team continue, time after time, to impress me with their willingness to assist and in the real sense of the word. I have concluded in fact
that it is not at all just a repository of documents/resources but, in the way that David and his team manage the firm, it is like dealing with consultants always ready to assist, advise and direct you to what you really need, and they always get it right.
I am an international hospitality accomplished senior executive who has worked and lived during the past 35 years in 23 countries in 5 continents and I can humbly say that I know what customer service is, trust me.
Aside from the great and professional service that Flevy's team provide, their wide variety of material is of utmost great quality, professionally put together and most current.
Well done Flevy, keep up the great work and I look forward to continue working with you in the future and to recommend you to a variety of colleagues around the world.
"
– Roberto Pelliccia, Senior Executive in International Hospitality
"Flevy is now a part of my business routine. I visit Flevy at least 3 times each month.
Flevy has become my preferred learning source, because what it provides is practical, current, and useful in this era where the business world is being rewritten.
many challenges and there is the need to make the right decisions in a short time, with so much scattered information, we are fortunate to have Flevy. Flevy investigates, selects, and puts at our disposal the best of the best to help us be successful in our work.
"
– Omar Hernán Montes Parra, CEO at Quantum SFE
"[Flevy] produces some great work that has been/continues to be of immense help not only to myself, but as I seek to provide professional services to my clients, it gives me a large "tool box" of resources that are critical to provide them with the quality of service and outcomes they are expecting."
– Royston Knowles, Executive with 50+ Years of Board Level Experience
"I am extremely grateful for the proactiveness and eagerness to help and I would gladly recommend the Flevy team if you are looking for data and toolkits to help you work through business solutions."
– Trevor Booth, Partner, Fast Forward Consulting
"As a niche strategic consulting firm, Flevy and FlevyPro frameworks and documents are an on-going reference to help us structure our findings and recommendations to our clients as well as improve their clarity, strength, and visual power. For us, it is an invaluable resource to increase our impact and value."
– David Coloma, Consulting Area Manager at Cynertia Consulting
Receive our FREE presentation on Operational Excellence
This 50-slide presentation provides a high-level introduction to the 4 Building Blocks of Operational Excellence. Achieving OpEx requires the implementation of a Business Execution System that integrates these 4 building blocks.
Click main image to view in full screen.
