The Committee of Sponsoring Organizations of the Treadway Commission (COSO), in collaboration with the National Association of Corporate Directors (NACD), has released an ‘exposure draft’ of a new Corporate Governance Framework which is linked to the COSO Internal Control and Enterprise Risk Management frameworks.
Strong corporate governance ‘provides the clarity, agility, and oversight that an entity needs to seize opportunities, manage risk, and stay resilient through disruption’ states the Corporate Governance Framework, which aims to provide principles-based guidance for organizations to establish and strengthen governance practices, starting in the boardroom and cascading throughout the enterprise. It incorporates leading practices to help organizations enhance governance effectiveness, manage risks proactively, and create long-term value.
Public comments on the Corporate Governance Framework will be accepted until July 11, 2025.
