COSO Framework for Sustainability Controls and Reporting

The award winning, Compliance into the Weeds is the only weekly podcast which takes a deep dive into a compliance related topic, literally going into the weeds to more fully explore a subject. In this episode, join Tom and Matt as they discuss a new sustainability framework that companies can use to improve their sustainability efforts. The document emphasizes the importance of data governance and using a recognized control framework for effective financial reporting, similar to COSO. The hosts explore the challenges of collecting and managing sustainability data, while highlighting the need for organizations to have a Chief Data Governance Officer and an in-house data committee. They discuss the importance of competent leadership, effective communication, and the role of vendors offering sustainability supporting solutions. Tune in to discover how the right oversight mechanisms can save organizations money by streamlining IT vendors and why sustainability data reporting is the new challenge of achieving Sarbanes Oxley compliance in the 2000s.  Key Highlights ·      COSO Internal Control Framework for Sustainability Disclosures ·      Comparing Sustainability and Ethics/Compliance Frameworks ·      Challenges in Sustainability Data Collection ·      Importance of Data Governance in Large Enterprises  Notable Quotes 1.     “ESG and sustainable business information, on the other hand, tends to be longer term and more qualitative.”  2.     Revenue numbers are in dollar returns and carbon emissions are not. 3.    Radically different sorts of disclosures and data there, but you have to think through.  4.    You're going to have to make sure that the data governance mechanisms you have? Do you have a Chief Data Governance Officer? Some organizations do. Do you have an in house data committee to think about are we collecting all of this data?  Resources Matt  on LinkedIn Matt on Radical Compliance Tom  Instagram Facebook YouTube Twitter LinkedIn Learn more about your ad choices. Visit megaphone.fm/adchoices