Introduction

In today’s complex business environment, organizations must effectively manage risks, strengthen internal controls, and ensure compliance with regulatory requirements. The COSO Framework  is one of the most recognized and widely adopted frameworks for enhancing governance, risk management, and control practices.

This 5-day training program provides participants with comprehensive knowledge of the COSO Framework, focusing on its components, practical applications, and integration into enterprise risk management and internal control systems. Participants will gain hands-on experience through real-world case studies and workshops to apply COSO principles in building strong governance, accountability, and risk management practices.

Course Objectives

By the end of this training, participants will be able to:

• Understand the fundamentals of the COSO Framework and its key components.

• Apply COSO principles to design and evaluate internal control systems.

• Integrate COSO into enterprise risk management (ERM) practices.

• Strengthen compliance, accountability, and fraud risk prevention using COSO.

• Align organizational objectives with COSO’s governance and control framework.

• Develop a COSO-based strategy for governance, risk management, and control.

Target Audience

This program is designed for professionals involved in governance, risk, and compliance, including:

• Internal Auditors and Compliance Officers.

• Risk Managers and Enterprise Risk Specialists.

• Corporate Executives and Decision-Makers.

• Governance, Control, and GRC Professionals.

• Regulators, Consultants, and Legal Advisors.

 Outlines

Day 1: Introduction to COSO Framework & Internal Control

• Understanding governance, risk, and compliance in modern organizations.

• Overview of the COSO Framework and its importance.

• The five integrated components of COSO:

  • Control Environment

  • Risk Assessment

  • Control Activities

  • Information & Communication

  • Monitoring Activities

• Case Study: COSO application in governance and control.

Day 2: COSO and Organizational Objectives

• Aligning COSO with strategic and operational objectives.

• Regulatory compliance requirements supported by COSO.

• The role of COSO in accountability and organizational integrity.

• Workshop: Mapping COSO principles to organizational goals.

Day 3: Enterprise Risk Management (ERM) with COSO

• COSO ERM framework and its practical application.

• Identifying and assessing enterprise risks.

• Designing control activities to mitigate risk exposures.

• Group Activity: Building a COSO-based risk management model.

Day 4: Integrating COSO into Compliance & Fraud Prevention

• Embedding COSO into governance, compliance, and risk structures.

• COSO’s role in fraud prevention, detection, and deterrence.

• Enhancing organizational reporting and communication.

• Workshop: Designing compliance frameworks with COSO.

Day 5: Developing a COSO-Based Governance & Risk Strategy

• Best practices for applying COSO in governance and control.

• Managing third-party and vendor risks with COSO.

• Ethical and cultural considerations in governance and internal control.

• Final Case Study: Designing a COSO-based governance, risk, and compliance strategy.