ЗАХІДНОУКРАЇНСЬКИЙ НАЦІОНАЛЬНИЙ УНІВЕРСИТЕТ

Developed in cooperation between Nord University Business School, Taras Shevchenko National University of Kyiv, Ternopil National Economic University, and Yuriy Fedkovych Chernivtsi National University, the course will give an overview of internal control systems through the COSO-framework, which was introduced in 1992 and updated in 2013. The COSO-framework is among the most used frameworks for internal control today worldwide and is a valuable tool for many types of organizations, both public and private. The course will also give a historical background about the development of internal control systems, as well as about the practical need and advantages of having solid systems of internal control.

The course will focus on why internal control is needed in ensuring that organizational/project objectives are achieved, as well as its role in ensuring that funds are used properly, and in making sure that irregularities are avoided, and risks are identified and handled through procedures designed to minimize the risks to the organization.

The course is arranged as a guided self-study online course. It will take place in the Canvas, web-platform for distant learning. After being admitted to the course, students will get access to the course “room” in the Canvas where all study materials and assignments will be available.   

Each module includes several self-study videos supplemented with PowerPoint presentations/slides and other materials (required and recommended readings, Internet links, etc.). Each module consists of written exercises and quizzes to evaluate learning progress.

The participants will be judged based on a multiple-choice test, obligatory assignments after each module, as well as a final presentation given in the end of the course.

Learning outcomes:

Knowledge

upon completion of the course, the participants will have knowledge and understanding аbout:

·         The historical development and driving forces for internal control system development in organizations.

·         The components of the COSO-framework for internal control (Control environment, Risk assessment, Information and communication, Monitoring activities), as well as principles.

·         The indicators of a proper functioning system of internal control.

 Skills

upon completion of the course, the participants will be able to:

·         Apply the COSO-framework to design internal control systems

·         Analyze problems of internal control system functioning in a university.

·         Identify and avoid barriers to the proper functioning of internal control systems.

 General competence

upon completion of the course, the participants will improve their:

·         Skills in group and team work

·         Ability to assess and discuss the tension between the general framework and context specific practice.

·         Abilities to link theory and practice

Assessment methods and criteria:

Each participant will deliver written assignments, and will take a multiple-choice test after each module, as well as presenting their universities’ internal control systems on the basis of the COSO-framework in the end of the course. Grade: passed/not passed.