Using the New COSO Internal Control–Integrated Framework (2013) and Compendium Bundle in the Classroom

• In Event: Reception with Effective Learning Strategies Displays

Abstract

In May 2013, COSO released its new Internal Control Integrated Framework, replacing the framework that had been in place since 1992. During 2016, our university subscribed to the new COSO resources made available to schools through the American Accounting Association. Those resources include the Internal Control Integrated Framework (2013), tools for assessing the effectiveness of internal controls, and a compendium of approaches and examples related to the internal controls of external financial reporting. To introduce students to the framework and the vast resources provides on the COSO website, we developed a series of short classroom assignments requiring students to:
• review the fundamental concepts of the framework itself (the five components and seventeen principles),
• explore the tools and compendium to search for specific examples to meet the needs of a hypothetical company
• report findings in a concise written form, including their research protocol

Author

• Susan L Swanger, Western Carolina University