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COSO, IAASB form ties to sustainability reporting

Tammy Whitehouse | January 31, 2018

Sustainability reporting is breaking new ground in attaching itself to traditional financial reporting after the World Business Council for Sustainable Development has formed some new relationships.

The Committee of Sponsoring Organizations of the Treadway Commission, better known simply as COSO, has formed a partnership with the WBCSD to look at how COSO’s newly updated Enterprise Risk Management framework can be applied to environmental, social, and governance-related risks. The groups have developed a draft executive summary that is meant to help organizations respond to the growth and severity of various ESG risks, from weather events to safety recalls.

The guidance is directed at integrating ESG-related risks and opportunities to help companies get a better understanding of the scope of the risks...

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