The Committee of Sponsoring Organizations of the Treadway Fee is searching for a brand new chairperson as its present chair, Paul Sobel, plans to depart on the finish of the yr.
Sobel has been main the group since 2018. COSO develops broadly used frameworks for inner controls and enterprise threat administration. It’s collectively sponsored by the American Accounting Affiliation, the American Institute of CPAs, Monetary Executives Worldwide, the Institute of Administration Accountants, and the Institute of Inner Auditors. The IIA is managing the applying course of. The elected place will begin on Jan. 1, 2023, for a three-year time period.
“The COSO board enormously appreciates Paul’s service, and we stay up for enhancing COSO’s affect and relevance globally in a disruptive enterprise setting with a chair who continues to exemplify govt maturity and presence, has expertise main boards, and is a reputable voice in inner controls, threat administration and company governance,” stated IMA CEO Jeff Thomson, who can be COSO lead director, in an announcement Wednesday.
COSO chair Paul Sobel at an IIA convention
Previous to main COSO, Sobel was vice chairman and chief audit govt of the paper producer Georgia-Pacific (see story). He beforehand labored as vice chairman of inner audit on the vitality firm Mirant and vice chairman of threat administration at Aquila, and earlier than these jobs was a senior supervisor on the accounting agency Arthur Andersen.
The COSO board is searching for candidates with govt maturity and presence, deep data and expertise in inner controls, enterprise threat administration, governance, and fraud deterrence, management expertise, public talking proficiency, and a dedication to making sure the relevance and affect of COSO globally.
The principle tasks embrace board management; strategic relationships with different organizations which have a typical curiosity with COSO’s mission; oversight of COSO-sponsored tasks and different actions that align with its imaginative and prescient, mission, and strategic targets.
candidates can ship a letter of curiosity together with a present resume of {qualifications} to https://tinyurl.com/COSONewBoardChair by June 30, 2022.