The Committee of Sponsoring Organizations of the Treadway Commission (COSO), has announced a withdrawal of its draft Corporate Governance Framework (CGF). The draft CGF has been withdrawn from public comment as COSO takes time to evaluate the extensive feedback received to date and engage further with stakeholders.
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This decision, made in collaboration with the National Association of Corporate Directors (NACD), comes amid a shifting regulatory and economic landscape for U.S. businesses and follows the recent passage of a wide-ranging federal law that introduces significant changes to corporate reporting and planning requirements.
In light of these developments, COSO and NACD recognize the importance of ensuring that any revised draft framework aligns with the existing requirements and evolving expectations placed on public companies.
COSO and NACD will continue to work closely with key constituencies and thank them for their extensive feedback and collaboration. COSO looks forward to reintroducing a refined draft of the Corporate Governance Framework at a future date. Stakeholders who have already prepared comment letters can submit them by July 23, 2025 to the COSO Board Chair at Lucia.wind@coso.org.
Please refer to the COSO website for updates.
About COSO Originally formed in 1985, COSO is a voluntary private sector organization dedicated to helping organizations improve performance by developing thought leadership that enhances internal control, risk management, governance and fraud deterrence. COSO is jointly sponsored by the American Accounting Association (AAA), the American Institute of Certified Public Accountants (AICPA), Financial Executives International (FEI), the Institute of Management Accountants (IMA), and The Institute of Internal Auditors (IIA). For more information, visit www.COSO.org.
About NACD The National Association of Corporate Directors (NACD) is the leading member organization for corporate directors who want to expand their knowledge, grow their network and maximize their potential. For more than 47 years, NACD has helped boards and the business community elevate their performance and create long-term value. Our leadership continues to raise standards of excellence and advance board effectiveness at thousands of member companies. Learn more atwww.nacdonline.org.
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SOURCE COSO
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