Guiding Global Governance: COSO Seeks Leader for a New Era of Risk

NEW YORK, NY – May 18, 2026 – The Committee of Sponsoring Organizations of the Treadway Commission (COSO), the influential body that sets global standards for internal control and risk management, has officially begun its search for a new Board Chair. The leadership transition comes at a critical juncture for global business, as organizations grapple with a maelstrom of technological disruption, escalating regulatory demands, and complex systemic risks.

The incoming Chair, who will begin a three-year term on January 1, 2027, will succeed Lucia Wind, whose tenure concludes at the end of 2026. The new leader will be tasked with stewarding COSO’s globally recognized frameworks and shaping the future of governance and risk oversight in an era of profound uncertainty.

A Legacy of Modernization and Adaptation

Lucia Wind’s term, which began in 2023, has been defined by a proactive push to modernize COSO’s guidance and ensure its relevance. A significant step in this direction was her appointment as COSO’s first-ever full-time Chair and Executive Director in late 2023, a move designed to accelerate the development of thought leadership and elevate the organization's global stature.

Under her leadership, COSO has issued crucial supplemental guidance to help organizations apply its time-tested frameworks to modern challenges. In March 2023, it released guidance on achieving effective internal control over sustainability reporting (ICSR), a timely response to the growing importance of Environmental, Social, and Governance (ESG) disclosures. More recently, in early 2026, COSO published a practical roadmap for applying its internal control principles to the unique risks and opportunities of Generative AI (GenAI).

These initiatives reflect a commitment to keeping pace with a business environment being reshaped by technology and shifting stakeholder expectations. Wind also oversaw the development of a new Corporate Governance Framework in partnership with the National Association of Corporate Directors (NACD), a project aimed at providing a comprehensive, principles-based guide for boards and management to enhance ethical practices and protect organizational value.

Navigating a Landscape of Unprecedented Complexity

The search for a new leader is not a routine succession; it is a hunt for a visionary capable of guiding organizations through a new and formidable risk landscape. The challenges confronting boards and executives today are more interconnected and dynamic than ever before.

Artificial Intelligence stands at the forefront, presenting a dual reality. On one hand, AI offers powerful tools for predictive risk management, automated controls testing, and continuous compliance monitoring. On the other, it introduces novel governance risks, including data bias, privacy concerns, and a lack of transparency, not to mention its role as a threat multiplier for sophisticated cyberattacks. The new Chair must champion guidance that helps organizations harness AI's potential without succumbing to its perils.

Simultaneously, ESG has moved from a peripheral concern to a central element of corporate strategy and risk. With increasing regulatory pressure from bodies like the EU and the SEC, climate risk is now firmly established as financial risk. The next leader will need to ensure COSO’s frameworks continue to provide a robust structure for integrating these non-financial risks into core business strategy and reporting.

"COSO's work continues to evolve as organizations face increasingly complex risks and heightened expectations for transparency, accountability, and effective governance," said Doug Prawitt, Lead Director of the COSO Board. "The next Chair will play a pivotal role in shaping COSO's direction and ensuring our frameworks remain relevant, practical, and responsive to emerging challenges."

This complexity is compounded by persistent geopolitical instability, which threatens global supply chains, and a regulatory environment that is expanding in scope and severity, with increasing personal liability for executives and board members.

Evolving the Playbook for Governance and Control

The next Chair will inherit an active agenda focused on evolving COSO’s foundational playbooks. While the core Internal Control – Integrated Framework (last updated in 2013) and the Enterprise Risk Management (ERM) Framework (updated in 2017) remain the global gold standards, recent efforts have focused on their practical application.

Just this month, COSO released a new paper, "From Guidance to Action: Exploring Practical Enterprise Risk Management," which directly addresses a persistent gap between documenting risks and using ERM as a tool for real-time, strategic decision-making. The new Chair will be tasked with closing this gap, transforming ERM from a compliance-driven exercise into a vital component of performance management and value creation.

This involves continuing the modernization efforts seen with the guidance on GenAI, sustainability, blockchain, and alternative data. The success of the new Corporate Governance Framework will also be a key priority, requiring the Chair to champion its adoption and demonstrate its value in fostering resilient and ethical organizations, especially following revisions made to the initial draft in response to a shifting economic and political landscape.

The Search for a Future-Ready Chair

COSO's sponsoring organizations—the American Accounting Association (AAA), American Institute of CPAs (AICPA), Financial Executives International (FEI), The Institute of Internal Auditors (IIA), and the Institute of Management Accountants (IMA)—are seeking a leader with deep executive experience in governance, risk, and control. The IIA is managing the application process, with a deadline of June 30, 2026.

However, the role demands more than technical expertise. The ideal candidate will be a strategic thinker who can build consensus among diverse stakeholders and communicate a clear vision for the future of governance. They must be able to anticipate emerging risks and translate complex concepts into practical, actionable guidance for organizations of all sizes, across all industries.

The next leader of COSO will not simply be a steward of existing frameworks but a crucial navigator for the global business community. Their leadership will be instrumental in determining how effectively organizations can build resilience, foster trust, and create sustainable value in an increasingly turbulent world.