New COSO AppointmentBy
The Committee of Sponsoring Organizations of the Treadway Commission (COSO) has named Paul Sobel its new chairman for a three-year term effective February 1, 2018. Sobel was selected from more than a dozen applicants.
Currently vice president and chief audit executive at Georgia-Pacific LLC and a leader in the fields of enterprise risk management, internal control, compliance, and governance, Sobel has also been chairman of the global board for The Institute of Internal Auditors (IIA) and an audit committee chairman for an organization whose revenue rose from $25 million to more than $200 million.
Sobel has written Managing Risk in Uncertain Times: Leveraging COSO’S New ERM Framework and Auditor’s Risk Management Guide: Integrating Auditing and ERM. He also coauthored the textbook Internal Auditing: Assurance and Consulting Services.
“It is an honor and privilege to be selected as COSO’s new chairman,” Sobel said. “I have been actively involved in the latest developments with the committee to help organizations across the globe improve their risk management, governance, and controls in our collective effort to deter corporate fraud.”
“Paul is an exemplary leader with a strong vision,” notes COSO Lead Director and IIA President and CEO Richard F. Chambers. “I, along with the Board, strongly believe that he is well-qualified to further COSO’s important mission.”
Sobel succeeds Robert B. Hirth, Jr., who has served as COSO chairman since 2013. For additional information, please visit www.coso.org.