The Committee of Sponsoring Organizations of the Treadway Commission (COSO), in collaboration with the National Association of Corporate Directors (NACD), has issued a Request for Proposal (RFP) to develop a Corporate Governance Framework (CGF). While other governance frameworks and standards exist worldwide, there is currently no authoritative guidance in the United States.
COSO is broadly recognized as an independent and authoritative body in the areas of internal control, risk management, governance, and fraud deterrence. NACD is the leading member organization in the United States for corporate directors who want to expand their knowledge, grow their network, and maximize their potential. Both COSO and NACD are uniquely positioned to sponsor the development of a principles-based governance framework that considers the interests of major stakeholders while maintaining an objective view of leading and desired practice.