COSO Releases Study and Supplemental Guidance Related to Sustainability Reporting

On March 30, 2023, the Committee of Sponsoring Organizations of the Treadway Commission (COSO) released a study with supplemental guidance, “Achieving Effective Internal Control Over Sustainability Reporting (ICSR): Building Trust and Confidence Through the COSO Internal Control ― Integrated Framework.” The study updates and expands on a 2017 COSO report that “advocated for greater integration between sustainability and finance teams as an essential driver of the path forward to improved internal and external reporting on sustainability and enhanced data quality for management of sustainable business issues.” In addition, the supplemental guidance addresses “several key themes as organizations and practitioners begin or continue their journeys toward establishing and maintaining an effective system of internal control over financial and sustainable business information.”

For more information, see the press release on the COSO’s Web site.