Posté Le 05/04/2023 par Béatrice BON MICHEL

If you liked the Coso[1] 2013, you will appreciate the Coso 2023 which integrates sustainability issues.

This paper updates and expands on the 2017 study Leveraging the COSO Internal Control— Integrated Framework to Improve Confidence in Sustainability Performance Data.

In the table below, we propose the main principles structured around the five elements[2] of a good internal control framework and extract from this Coso 2023 the elements that might be the most relevant.

However, there is nothing like referring to the original text[3] !

[1] COSO is an internal control framework designed to limit attempts at fraud in corporate financial reporting. Committee Of Sponsoring Organizations of the Treadway Commission

[2] Environment and organisation; Risk management; Operational Activities; Information and communication; Monitoring Activities

[3] https://www.coso.org/Shared%20Documents/COSO-ICSR-Report.pdf – ACHIEVING EFFECTIVE INTERNAL CONTROL OVER SUSTAINABILITY REPORTING (ICSR): BUILDING TRUST AND CONFIDENCE THROUGH THE COSO INTERNAL CONTROL-INTEGRATED FRAMEWORK

1. Environment and organisation

[1] COSO is an internal control framework designed to limit attempts at fraud in corporate financial reporting. Committee Of Sponsoring Organizations of the Treadway Commission

[1] Environment and organisation; Risk management; Operational Activities; Information and communication; Monitoring Activities

[1] https://www.coso.org/Shared%20Documents/COSO-ICSR-Report.pdf – ACHIEVING EFFECTIVE INTERNAL CONTROL OVER SUSTAINABILITY REPORTING (ICSR): BUILDING TRUST AND CONFIDENCE THROUGH THE COSO INTERNAL CONTROL-INTEGRATED FRAMEWORK

[1] UNGC: United Nations Global Compact

2. Risk management

3. Control activities

4. Information and communication

5. Monitoring Activities

References

COSO, www.coso.org.
COSO, Enterprise Risk Management-Integrating with Strategy and Performance, www.coso.org/SitePages/
- Guidance-on-Enterprise-Risk-Management.aspx?web=1.
COSO, Internal Control-Integrated Framework, www.coso.org/sitepages/internal-control.aspx?web=1.org.
COSO and World Business Council for Sustainable Development, Enterprise Risk Management: Applying enterprise risk management to environmental, social and governance-related risks, October 2018, wbcsd.org/Programs/ Redefining-Value/Making-stakeholder-capitalism-actionable/Enterprise-Risk-Management/Resources/ApplyingEnterprise-Risk-Management-to-Environmental-Social-and-Governance-related-Risks
Douglas Hileman Consulting, LLC, 3 Attributes of ESG Reporting That Differ from Financial Reporting, March 2021,
- douglashileman.com/wp-content/uploads/2022/03/3-Attributes-of-ESG-Reporting-March-2022-FIN.pdf.

Edelman, 2022 Edelman Trust Barometer, www.edelman.com/trust/2022-trust-barometer.

Sustainability:

meeting the needs of the present without compromising the ability of future generations to meet their own needs.

Sustainable business:

the activities and transactions that an organization conducts to achieve long-term survival as a going concern and concurrently deliver value that meets the expectations of all stakeholders that contribute resources for the organization to achieve its objectives. Following from this, sustainable business information and sustainable business reporting mean the data or information that reflects an organization’s sustainable business activities and transactions, and sustainable business management refers to the means by which an organization directs and oversees its sustainable business activities and reporting.

ESG:

an acronym for environmental, social, and governance. Often, this term is used synonymously or as a shorthand for sustainability or sustainable business to refer to the internal and external information value chain. More narrowly and within, this term is used generally to describe the constructs of external disclosure of categories of sustainable business information to investors and other stakeholders.