Posts Tagged ‘coso’

Guest Column: COSO at a Tipping Point?

COSO

Nearly 30 years ago as young bank auditor, I learned about a private sector initiative known as “The Committee of Sponsoring Organizations of the Treadway Commission,” or more simply, “COSO.” It was the mid-1980s. The savings & loan crisis was raging. COSO was, and continues to be, a joint effort of five private sector organizations…

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Podcast: New COSO Chairman Sobel

sobel

Internal control and risk management enthusiasts, listen up: we have a new podcast with incoming COSO chairman Paul Sobel, who talked about his desire for COSO to publish more guidance to help companies understand how to put its internal control and risk management frameworks to good, practical use. As always, you can listen to the…

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COSO Names New Chairman

sobel

COSO has named the chief audit executive of Georgia-Pacific Corp., Paul Sobel, as its next chairman, who already says one of his likely priorities will be offering more guidance on how companies can put COSO risk and control frameworks to better use. Sobel has been head of audit at Georgia-Pacific since 2011, and was head…

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COSO Debuts Final ERM Framework

COSO unveiled its new framework for enterprise risk management this morning, a trimmed down version of the original draft that still places a heavy emphasis on embedding risk management across the whole enterprise and tying it deeply to corporate strategy. The framework is available at www.COSO.org. It’s the result of nearly three years’ work and…

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More Details on COSO ERM Framework

erm framework

More news on the COSO framework for enterprise risk management: the final framework will consist of 20 principles rather than the originally proposed 23; the “ERM rainbow” graphic will be replaced with a more DNA-like image; and yes, COSO intends to have the complete framework ready for public consumption by sometime in July. That’s the…

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Thoughts on Managing Sustainability Risk

coso

Interesting news on the framework front: COSO has agreed to work with the World Business Council for Sustainable Development to develop guidance on how to embed sustainable business practices into COSO’s forthcoming framework for enterprise risk management. The two groups announced their partnership last Friday; the guidance should arrive sometime in 2018. I hadn’t heard…

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