Convert to COSO 2013 Testing & Validation Requirements – Update Testing, Risk Assessment and meet new “Present & Functioning” Requirements

  • COSO 2013 Workshop Webcast - OCT 20 (9AM-4PM EST)
    October 20, 2015
    9:00 am - 4:00 pm
  • COSO 2013 Workshop Webcast - NOV 24 (9AM-4PM PST)
    November 24, 2015
    9:00 am - 4:00 pm



For TSX Listed Companies:

To Declare and Certify COSO 2013 for Form 52-109 F1 Certification of Annual Filings for Year-end, Operating Effectiveness Testing and Validation Regimes Must Change

Are you ready?

CEO/CFO Quarterly and Annual Certifications (NI 52-109) require the declaration an internal controls Framework. The old COSO Framework (1992) expired December 2014. The new COSO Framework (2013) has substantial and material changes. Your company’s year-end testing and validation methods may be out of date if no updates have been made since the declaration of COSO Framework (2013).

  • COSO 2013 has 80% more guidance/requirements causing extensive updates to testing and validation of Operating Effectiveness of internal controls.
  • This must be performed by your fiscal year end to meet this year’s COSO 2013 declaration of disclosure & internal controls design, implementation and operating effectiveness.
Testing and Validation with COSO 2013 Framework is not the same as the expired COSO 1992 Framework:
  • 80% larger with more guidance that must be addressed in testing and validation of controls.
  • More comprehensive with requirements to prove that COSO Components, 17 Principles are “Present and Functioning”
  • New focus on new areas such as risk assessment, IT controls/Cyber security, subcontracted services
Added COSO 2013 guidance that increases time and change required for testing and validation of:
  1. COSO 2013 Objective setting details and documentation.
  2. Risk assessment details of high, medium and low risks along with risk appetites tailored to the company
  3. Operating effectiveness of key controls to incorporate the new COSO 2013 Seventeen Principles and assure that all COSO Components are “Present and Functioning” for all key control areas:
    • Entity-Level Controls
    • Process Controls
    • IT Controls
    • Disclosure Controls
  4. Assurance that new COSO 2013 monitoring activities are operating as designed.

Our Applied Workshop for Testing and Validation for National Instrument 52-109 with new COSO 2013 Requirements

  • No matter where you are in the world, you can attend this online hands-on applied workshop.
  • All you need is a computer, an internet connection and Microsoft Office and you can attend this session.
  • To get the most out of this session, you will want to have at least some of your COSO 2013 design information to review for this session.
  • This is unique and innovating and is only delivered by Issues Central Inc. a world leader in corporate governance and financial compliance.

Online COSO 2013 Testing & Validation Workshop Agenda: (7 hours including breaks)


Lecture: Overview of  expectations of data required for COSO 2013 Testing and Validation Detailed instruction on COSO 2013 testing differences and requirements. Overview of types of documentation that are expected to be in place for testing and validation to proceed.
Hands-on Lesson on Validation/Testing of Objective Setting Utilize templates provided for validation of documentation of critical actionable company objectives.
Hands-on Lesson on Validation/Testing of Risk Assessment Utilize templates provided for validation of completeness of risk assessment assuring that all key elements are in place such as material risk identification, risk appetites and risk responses.
Hands-on work with for COSO 2013: Testing of Entity-Level Controls Utilize templates provided to validate and test a portion of Entity Level Controls including metrics to gather and tally testing results.
Hands-on work for COSO 2013: Testing of Financial Reporting Controls Utilize templates provided to validate and test a portion of Financial Reporting Controls including metrics to gather and tally testing results.
Hands-on work for COSO 2013: Testing of Disbursement Controls Utilize templates provided to validate and test a portion of Disbursement Controls including metrics to gather and tally testing results.
Conclusion and Wrap-up Overview of work completed, next steps and questions and answers.


Cathy ConnallyCatherine Connally, Certified Internal Auditor (CIA) is a graduate of the University of Colorado in finance. She has over twenty-five years’ experience in corporate governance, financial compliance, internal audit and executive management. She began her career in the extractive sector with internal audit responsibilities in both the mining and oil & gas sectors with Atlantic Richfield and British Petroleum.Catherine is a well-known technology and governance and compliance sector entrepreneur having founded several businesses in the United States, Canada and West Africa. As President of Issues Central, Inc. she has provided executive briefings, seminars and workshop to over fifteen hundred organizations around the world on Sarbanes-Oxley and NI 52-109 CEO/CFO Certification and COSO 2013 financial compliance as well as International Financial Reporting Standards (IFRS). She is an expert in COSO 2013, internal controls and forensic auditing and has been involved in a variety of litigation cases associated with director and officer activities of listed entities. Ms. Connally had designed, developed and deployed many software applications to assist productivity in COSO 2013, internal controls management and IFRS conversion worldwide.Catherine is a co-author and primary architect of industry leading financial transition and compliance products including CFO PARTNER for NI 52-109/SOX 404/COSO 2013 compliance and IFRS PARTNER for Financial Reporting. (LinkedIn Profile)
Charley BestCharley Best has over 30 years of experience in executive management and consulting roles across the manufacturing, technology, and services sectors. He is an authority on the application of sound project management techniques to complex projects such as the conversion to new internal control frameworks (COSO 2013) and to new international financial reporting standards (IFRS) in various national settings. At Issues Central, Inc. (ICI) Charley has organized the company’s COSO 2013 Financial Compliance and IFRS campaigns across Canada, the United States and abroad to bring hundreds of companies to the new standards through end-to-end project engagements. Charley has worked extensively with companies and regulators in Canada, the United States, South Africa, and recently Nigeria, to develop and deliver methodologies and tools to streamline costs and time-to-comply for areas such as COSO 2013, IFRS transition, Sarbanes-Oxley Act of 2002, NI 52-109, and Executive Compensation Disclosure. He has been in charge of ICI’s IFRS activities in West Africa and since November 2010 he and his team have provided COSO 2013 and IFRS training to over 250 organizations including regulators, NSE listed firms, government entities and external auditors. Charley is a best-selling author of the Manufacturing Systems Implementation Methodology (MSIM) first published in 1988. He has a BA from Queen’s University in Kingston, Ontario, Canada and an MBA from York University in Toronto, Canada. (LinkedIn Profile)


  • Protect your CEO and CFO from unnecessary risk by applying proper testing and validation techniques for COSO 2013 requirements
  • Declare COSO 2013 for your year-end NI 52-109 F1 CEO/CFO certification with confidence
  • One hour one on one consultation prior to the workshop with our expert instructors
  • Receive and learn to use best practice templates for COSO 2013 testing and validation
  • Low cost and no hassle with no travel expenses or arrangements
  • Limited number of attendees to assure personal attention
  • Continuing Professional Education (CPD/CPE) certificate


Controllers, Risk Officers, Internal Control Specialist, Internal Auditors, Compliance Officers and others involved in internal control development, disclosures or testing.


Download the PDF version of this event

Please use the email address for registration and payment where you want to receive the seminar invitation.

Acrobat PDF