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COSO Announces Search for New Board Chair Committee begins leadership transition to guide next phase of governance, risk, and internal control advancement NEW YORK, May 18, 2026 – The Committee of Sponsoring Organizations of the Treadway Commission (COSO), today announced that it has initiated a formal search process for its next Board Chair, marking an important leadership transition as the organization continues its mission to strengthen enterprise risk management, internal control, governance and fraud deterrence across industries worldwide. Lucia Wind, COSO Chair since 2023, will step down on December 31, 2026, following a distinguished completion of her term of service. The Board is deeply grateful for Lucia’s leadership and forward-looking direction. During her tenure, COSO advanced key modernization initiatives, strengthened global engagement around our frameworks, issued key thought leadership pieces and expanded collaboration with standard setting bodies. Her commitment to COSO’s mission ensured COSO remains influential, practical and relevant in a rapidly evolving landscape. The Institute of Internal Auditors (IIA), a sponsoring organization of COSO, is managing the application process. The elected position will commence on January 1, 2027, for a three-year term. The incoming Chair will succeed the current leadership at the conclusion of the current term and will guide COSO’s strategic priorities during a period of rapid change in organizational governance, technology adoption, and risk oversight. The role includes stewardship of COSO’s globally recognized frameworks, engagement with standard setting bodies, development and management of key partnerships and collaboration with the five sponsoring organizations. “COSO’s work continues to evolve as organizations face increasingly complex risks and heightened expectations for transparency, accountability, and effective governance,” said Doug Prawitt, Lead Director of the COSO Board. “The next Chair will play a pivotal role in shaping COSO’s direction and ensuring our frameworks remain relevant, practical, and responsive to emerging challenges.” The search will focus on candidates with deep experience in executive leadership, governance, risk management, internal control, auditing, or related disciplines, as well as a demonstrated commitment to advancing COSO’s mission. The selected Chair will lead COSO’s ongoing initiatives, including modernization of its frameworks, expansion of global outreach, and continued collaboration with regulators, practitioners, and academic institutions. COSO’s sponsoring organizations include the American Accounting Association (AAA), the American Institute of CPAs (AICPA), Financial Executives International (FEI), The Institute of Internal Auditors (IIA), and the Institute of Management Accountants (IMA). Candidates may submit a letter of interest along with a current resume of qualifications to: bit.ly/4eUG2UA by the position application close date June 30, 2026. For more information about COSO, please visit www.coso.org . Additional details regarding the search process and timeline will be announced as they become available. About COSO Originally formed in 1985, COSO is a voluntary private sector organization dedicated to helping organizations improve performance by developing thought leadership that enhances internal control, risk management, governance and fraud deterrence. COSO is jointly sponsored by the American Accounting Association (AAA), the American Institute of Certified Public Accountants (AICPA), Financial Executives International (FEI), the Institute of Management Accountants (IMA), and The Institute of Internal Auditors (IIA). For more information, visit www.cos.org .

News What's New? COSO Announces Search for New Board Chair See More COSO Ends Corporate Governance Framework Comment Period Amid Shifting Regulatory Landscape (2025/07/15) See More Alternative Data: The COSO Perspective (2024/03/27) See More COSO Seeking New Board Chair (2022/05/18) See More COSO Releases New Guidance: Enterprise Risk Management for Cloud Computing (2021/07/28) See More COSO Releases New ERM Guidance: Creating and Protecting Value (2020/02/04) See More COSO Unveils New ERM Guidance to Help Organizations Improve Decision Confidence (2026/05/04) See More COSO Launches Fraud Risk Management Certificate Program (2025/04/30) See More Request for Proposal - Corporate Governance Framework (2024/01/31) See More COSO Releases: Enabling Organizational Agility in an Age of Speed and Disruption (2022/03/09) See More Compliance Risk Management: Applying the COSO ERM Framework (2020/11/11) See More Collaborative Work on ERM-ESG Alignment Earns UN ISAR Honors Promoting (2019/10/30) See More Corporate Governance: Guiding Principles for Board Oversight (2026/03/31) See More Achieving Effective Internal Control Over Robotic Process Automation (2024/12/12) See More COSO Releases New (ICSR) Supplemental Guidance (2023/03/30) See More COSO Board Approves Study on Sustainability/ESG (2022/02/24) See More Blockchain and Internal Control: The COSO Perspective (2020/08/04) See More COSO Issues Guidance for Healthcare Providers (2019/02/20) See More Achieving Effective Internal Control Over Generative AI (2026/02/23) See More COSO and NACD Award PwC US RFP for Development of Corporate Governance Framework (2024/05/21) See More COSO Names New Board Chair Ms. Lucia M. Wind to Succeed Paul J. Sobel in January (2022/12/15) See More COSO Releases New Guidance: Realize the Full Potential of Artificial Intelligence (2021/09/15) See More New COSO Guidance: Risk Appetite – Critical to Success (2020/05/20) See More COSO Releases Fraud Risk Management Guide: 2nd Edition See More

LATEST UPDATES: COSO Announces Search for New Board Chair See more > COSO was organized in 1985 to sponsor the National Commission on Fraudulent Financial Reporting , an independent private-sector initiative that studied the causal factors that can lead to fraudulent financial reporting. It also developed recommendations for public companies and their independent auditors, for the SEC and other regulators, and for educational institutions. The National Commission was sponsored jointly by five major professional associations headquartered in the United States: the American Accounting Association (AAA) , the American Institute of Certified Public Accountants (AICPA) , Financial Executives International (FEI) , the Institute of Internal Auditors (IIA) , and the National Association of Accountants , now known as Institute of Management Accountants (IMA). Wholly independent of each of the sponsoring organizations, the Commission included representatives from industry, public accounting, investment firms, and the New York Stock Exchange. To this day, COSO functions as a committee of the five Board Members led by its Chairman of the Board. The operations of the Committee and COSO overall are supported by the resources of the five Sponsoring Organizations. The first chairman of the National Commission was James C. Treadway, Jr. , Executive Vice President and General Counsel, Paine Webber Incorporated and a former Commissioner of the U.S. Securities and Exchange Commission. Hence, the popular name "Treadway Commission" Currently, the COSO Chairman is Lucia Wind . COSO’s goal is to provide thought leadership dealing with three interrelated subjects: Enterprise Risk Management (ERM), Internal Control, Fraud Deterrence and Governance. Sponsoring Organizations In Memoriam: Dr. Larry Rittenberg COSO is deeply saddened by the recent passing of Dr. Larry Rittenberg, a former COSO Board member and Chair. Larry was a highly respected leader in the accounting and internal audit professions. In addition to his service to COSO, he was deeply involved with The Institute of Internal Auditors and served as Chair of the Accounting Department at the University of Wisconsin–Madison. His contributions to governance, internal control, and the profession more broadly were significant and enduring. Those who worked closely with Larry remember not only his professional impact, but also his generosity, intellectual curiosity, and deep commitment to staying engaged. Even during his illness, Larry remained eager to connect, welcoming phone calls and seeking updates on COSO and the IIA with characteristic interest and care. Larry’s leadership, collegiality, and dedication will be greatly missed. COSO extends its sincere condolences to his family, friends, and colleagues. Larry’s obituary and service information are available through Cress Funeral Home in Madison, Wisconsin: https://www.cressfuneralservice.com/obituaries/larry-rittenberg

Study on Sustainability/ESG COSO Board Approves Study on Sustainability/ESG COSO has approved a study to develop supplemental guidance and insights to its authoritative 2013 Internal Control – Integrated Framework (ICIF) in the areas of sustainability and ESG. The goal is to help all organizations create and ensure effective internal control by applying the ICIF to sustainability reporting for internal decision-making and external public reporting (both voluntary and that mandated by regulation). The study is scheduled to be released in the Fall of 2022 and will leverage insights from stakeholder interviews, diverse third-party research and insights, and the September 2017 paper on this subject authored by Herz, Monterio and Thomson. For more information on this COSO study, or if you have significant practical research, cases, or stories to share, please contact Jeff Thomson . Press Release

New Board Chair COSO Names New Board Chair Ms. Lucia M. Wind to Succeed Paul J. Sobel in January Lucia Wind ORLANDO, December 15, 2022 – The Committee of Sponsoring Organizations of the Treadway Commission (COSO) today named Ms. Lucia M. Wind as its next Board Chair for a three-year term starting January 1. The Chair is responsible for leading COSO in fulfilling its mission of providing thought leadership in the areas of internal control, enterprise risk management, governance, and fraud deterrence. Paul J. Sobel, the current COSO chairman, plans to step down after admirably serving in that capacity since 2018. This was previously announced on May 18. Summary

Seeking New Board Chair Applications Are Being Accepted Through June 30, 2022 NEW YORK, May 18, 2022 – The Committee of Sponsoring Organizations of the Treadway Commission (COSO) is seeking applications for the position of Board Chair. The Chair is responsible for leading COSO in fulfilling its mission of providing thought leadership in the areas of internal control, enterprise risk management, governance, and fraud deterrence. Paul J. Sobel, the current COSO chairman, plans to step down after admirably serving in that capacity since 2018. The Institute of Internal Auditors (IIA), a sponsoring organization of COSO, is managing the application process. The elected position will commence on January 1, 2023, for a three-year term. The COSO board is seeking candidates with executive maturity and presence, deep knowledge and experience in internal controls, enterprise risk management, governance, and fraud deterrence, leadership skills, public speaking proficiency, and a commitment to ensuring the relevance and influence of COSO globally. Key responsibilities include board leadership; strategic relationships with other organizations that have a common interest with COSO’s mission; oversight of COSO-sponsored projects and other activities that align with its vision, mission, and strategic goals. “The COSO board greatly appreciates Paul’s service, and we look forward to enhancing COSO’s influence and relevance globally in a disruptive business environment with a chair who continues to exemplify executive maturity and presence, has experience leading boards, and is a credible voice in internal controls, risk management and corporate governance,” says Jeff Thomson, COSO Lead Director and CEO of the Institute of Management Accountants. Candidates may submit a letter of interest along with a current resume of qualifications to This Link by the position application close date June 30, 2022.

New ERM Guidance COSO Unveils New ERM Guidance to Help Organizations Improve Decision Confidence New research outlines practical steps for moving enterprise risk management from documentation to action NEW YORK, May 4, 2026 – The Committee of Sponsoring Organizations of the Treadway Commission (COSO), today announced the release of From Guidance to Action: Exploring Practical Enterprise Risk Management, a new paper designed to help organizations strengthen the strategic relevance, decision making and real world impact of their enterprise risk management (ERM) programs. Publication Press Release

COSO at 40

ERM for Cloud Computing Enterprise Risk Management for Cloud Computing Addressing the demands for remote and flexible work arrangements as a result of the pandemic, the Committee of Sponsoring Organizations of the Treadway Commission (COSO), in collaboration with Crowe LLP, issues “Enterprise Risk Management for Cloud Computing.” This new guidance provides a roadmap for establishing cloud computing governance leveraging the principles of COSO’s Enterprise Risk Management (ERM) – Integrating with Strategy and Performance framework (2017). The project was commissioned by COSO and co-authored by Mike Grob, Principal, and Victoria Cheng, Managing Director, in Crowe LLP’s Consulting Services. PDF File Press Release

Guidance for Healthcare Providers Guidance for Healthcare Providers Amid heightened scrutiny and ever-increasing complexities in operations and regulation, healthcare organizations face unique challenges related to the design and operation of internal controls. In response, the Committee of Sponsoring Organizations of the Treadway Commission (COSO), in collaboration with Crowe LLP and CommonSpirit Health, has published new guidance: “2013 COSO Integrated Framework: An Implementation Guide for the Healthcare Provider Industry.” Healthcare organizations experience issues with system access and integrity, clinical documentation, coding, and billing, all of which may result in potential noncompliance with federal and state regulations – and costly mistakes. The guide introduces healthcare organizations to COSO’s widely used “Internal Control – Integrated Framework,” and provides a roadmap to implementation to help strengthen their overall governance and internal control structures. PDF File Press Release

Governance Other Guidance Documents Corporate Governance: Guiding Principles for Board Oversight (2026) See More Improving Organizational Performance and Governance (2014) See More Enhancing Board Oversight (2012) See More

Guidance Enterprise Risk Management In keeping with its overall mission, the COSO Board commissioned and published in 2004 Enterprise Risk Management—Integrated Framework. Over the past decade, that publication has gained broad acceptance by organizations in their efforts to manage risk. However, also through that period, the complexity of risk has changed, new risks have emerged, and both boards and executives have enhanced their awareness and oversight of enterprise risk management while asking for improved risk reporting. The updated 2017 publication (see below) addresses the evolution of enterprise risk management and the need for organizations to improve their approach to managing risk to meet the demands of an evolving business environment. Certification Free - Executive Summary Purchase eBook Purchase eBook Purchase Softcover ERM Guidance Documents FROM GUIDANCE TO ACTION: EXPLORING PRACTICAL ERM (2026) See More (JAPANESE) ENTERPRISE RISK MANAGEMENT FOR CLOUD COMPUTING (2021) See More (JAPANESE) COMPLIANCE RISK MANAGEMENT: APPLYING THE COSO ERM FRAMEWORK (2020) See More (JAPANESE) MANAGING CYBER RISK IN A DIGITAL AGE (2019) See More (SPANISH) ENTERPRISE RISK MANAGEMENT TO ENVIRONMENTAL, SOCIAL AND GOVERNANCE-RELATED RISK (2018) See More ENHANCING BOARD OVERSIGHT (2012) See More PRACTICAL APPROACHES FOR GETTING STARTED (2011) See More ALTERNATIVE DATA: THE COSO PERSPECTIVE (2024) See More REALIZE THE FULL POTENTIAL OF ARTIFICIAL INTELLIGENCE (2021) See More RISK APPETITECRITICAL TO SUCCESS (2020) See More MANAGING CYBER RISK IN A DIGITAL AGE (2019) See More (FULL) ENTERPRISE RISK MANAGEMENT TO ENVIRONMENTAL, SOCIAL AND GOVERNANCE-RELATED RISK (2018) See More RISK ASSESSMENT IN PRACTICE (2012) See More BOARD RISK OVERSIGHT - A PROGRESSS REPORT (2010) See More ENABLING ORGANIZATIONAL AGILITY IN AN AGE OF SPEED AND DISRUPTION (2022) See More (PORTUGUESE) REALIZE THE FULL POTENTIAL OF ARTIFICIAL INTELLIGENCE (2021) See More COMPLIANCE RISK MANAGEMENT: APPLYING THE COSO ERM FRAMEWORK (2020) See More (SUMMARY) ENTERPRISE RISK MANAGEMENT TO ENVIRONMENTAL, SOCIAL AND GOVERNANCE-RELATED RISK (2018) See More COSO IN THE CYBER AGE (2015) See More CLOUD COMPUTING THOUGHT PAPER (2012) See More DEVELOPING KEY RISK INDICATORS TO STRENGTHEN ENTERPRISE RISK MANAGEMENT (2010) See More ENTERPRISE RISK MANAGEMENT FOR CLOUD COMPUTING (2021) See More (JAPANESE) REALIZE THE FULL POTENTIAL OF ARTIFICIAL INTELLIGENCE (2021) See More CREATING AND PROTECTING VALUE (2020) See More (PORTUGUESE) ENTERPRISE RISK MANAGEMENT TO ENVIRONMENTAL, SOCIAL AND GOVERNANCE-RELATED (2018) See More DEMYSTIFYING SUSTAINABILITY RISK (2013) See More UNDERSTANDING AND COMMUNICATING RISK APPETITE (2012) See More EFFECTIVE ENTERPRISE RISK OVERSIGHT - THE ROLE OF THE BOARD OF DIRECTORS (2009) See More Integrating with Strategy and Performance: Compendium of Examples COSO issued a supplement with detailed examples for applying principles from the ERM Framework to day-to-day practices. This supplement, titled COSO Enterprise Risk Management - Integrating with Strategy and Performance: Compendium of Examples, was developed from industry practices identified through extensive research conducted when updating the Framework. Each example focuses on specific components covered in the Framework. Written as a collection of case studies, the Compendium offers real-world advice about how to put the ERM Framework to use. Each case describes how a specific entity scaled and adapted the principles, and sets out a relationship between an organization’s mission, vision, and core values; its strategic goals and directions; and approaches used in carrying out its strategy. Compendium of Examples COSO issued a supplement with detailed examples for applying principles from the ERM Framework to day-to-day practices. This supplement, titled COSO Enterprise Risk Management - Integrating with Strategy and Performance: Compendium of Examples, was developed from industry practices identified through extensive research conducted when updating the Framework. Each example focuses on specific components covered in the Framework. Written as a collection of case studies, the Compendium offers real-world advice about how to put the ERM Framework to use. Each case describes how a specific entity scaled and adapted the principles, and sets out a relationship between an organization’s mission, vision, and core values; its strategic goals and directions; and approaches used in carrying out its strategy.