The commission responsible for the most widely used internal control framework has released guidance for applying the framework to sustainability reporting.
The Committee of Sponsoring Organizations of the Treadway Commission (COSO), using its Internal Control — Integrated Framework as a baseline, released Achieving Effective Internal Control over Sustainability Reporting (ICSR): Building Trust and Confidence through the COSO Internal Control — Integrated Framework on Thursday, March 30.
The ICSR document offers eight key takeaways for stakeholders, including cultivating a culture of accountability, revisiting the interrelationships of purpose and objectives, establishing a cross-functional team and leveraging existing expertise and controls.
The ICSR is “a clear road map” for facilitating the disclosure of high-quality sustainability information … “that will be beneficial not only to companies, but to their stakeholders as well,” said AICPA Chief Auditor Jennifer Burns, CPA. Learn more.