Bob Hirth

Developing an ESG reporting program equipped to move seamlessly into a new regulatory landscape of mandated disclosures.

Summary from presentation at Audit Board's 2023 Annual conference.

The Committee of Sponsoring Organizations of the Treadway
Commission (COSO) released this groundbreaking study with supplemental guidance for
organizations to achieve effective internal control over sustainability reporting (ICSR), using the globally
recognized COSO Internal Control-Integrated Framework (ICIF). COSO believes its use will build trust
and confidence in ESG/sustainability reporting, public disclosures, and enterprise decision-making.
The principal authors of… Show more

The Committee of Sponsoring Organizations of the Treadway
Commission (COSO) released this groundbreaking study with supplemental guidance for
organizations to achieve effective internal control over sustainability reporting (ICSR), using the globally
recognized COSO Internal Control-Integrated Framework (ICIF). COSO believes its use will build trust
and confidence in ESG/sustainability reporting, public disclosures, and enterprise decision-making.
The principal authors of this guidance are:
• Robert Herz, former FASB chair, founding member of the IASB and former SASB Foundation
board member;
• Robert Hirth, Senior Managing Director at Protiviti, former COSO Chair and former vice-chair of
the SASB;
• Douglas Hileman, consultant, ESG specialist, and member of [former] ESG Leadership
Knowledge Group;
• Shari H. Littan, IMA Director, Corporate Reporting Research and Thought Leadership;
• Brad Monterio, IIA EVP of Member Competency and Learning and member of the IFRS
Foundation’s IRCC; and
• Jeffrey C. Thomson, President and CEO of IMA and former COSO board member/lead
director. Show less

Sustainability standards present new opportunities for management accountants to improve governance,
strategy, risk management, and metrics.

ESG is a trend that has become impossible to ignore and which appears set to intensify over the years ahead

The expectations of regulators, investors and consumers regarding environmental, social and governance (ESG) initiatives for public companies have been mounting for some time, but they are also gaining traction in the private company arena, where more companies and investors are discovering that prioritizing ESG efforts can create value and improve their competitive advantage.

This article summarizes my ESG presentation from the 2021 AICPA/CIMA CFO conference.

Predictions on ESG Reporting, Standards and Assurance

Chair Emeritus of the Committee of Sponsoring Organizations (COSO), Bob is presently a member and Co-Vice Chair of the Sustainability Accounting Standards Board (SASB), and he is a fellow managing director with me in our firm today. His passion for sustainability reporting knows no bounds, as we share messages on new developments in the market three or four times a day. Recently, I caught up with Bob to ask him what he thought about the present state of sustainability reporting and what he saw… Show more

Chair Emeritus of the Committee of Sponsoring Organizations (COSO), Bob is presently a member and Co-Vice Chair of the Sustainability Accounting Standards Board (SASB), and he is a fellow managing director with me in our firm today. His passion for sustainability reporting knows no bounds, as we share messages on new developments in the market three or four times a day. Recently, I caught up with Bob to ask him what he thought about the present state of sustainability reporting and what he saw going forward. The views Bob expresses below are his and his alone – they are not intended to represent official viewpoints of the SASB. Show less

The Institute of Internal Auditors (IIA) last week unveiled a modernized version of its widely adopted “Three Lines of Defense Model” to reflect the evolving role of risk management and to encourage greater collaboration between business functions in a way the previous model did not.

Even as corporate reporting of sustainability information continues to gain in popularity, the practice still is not standardized, either domestically or globally. While not a sustainability reporting framework per se, The Internal Control—Integrated Framework of the Committee of Sponsoring Organizations of the Treadway Commission provides a possible roadmap for companies looking to adjust their internal processes to enable useful reporting of sustainability information. The author lays out the… Show more

Even as corporate reporting of sustainability information continues to gain in popularity, the practice still is not standardized, either domestically or globally. While not a sustainability reporting framework per se, The Internal Control—Integrated Framework of the Committee of Sponsoring Organizations of the Treadway Commission provides a possible roadmap for companies looking to adjust their internal processes to enable useful reporting of sustainability information. The author lays out the benefits of applying the principles of the COSO internal control framework to sustainability reporting, stressing the importance of assembling the right team and giving them the right tools for the job. Show less

Extreme weather events, data fraud and other risks related to environmental, social and governance issues are among the largest threats now facing business. But savvy organizations are implementing plans that not only mitigate these risks but also improve resilience and profitability.

Supply Chain Sustainability

NACD blog on sustainability

WSJ/Deloitte blog on sustainability