The Committee of Sponsoring Organizations of the Treadway Commission (COSO) named Paul Sobel, vice president and chief audit executive at Georgia-Pacific LLC, as its new chairman. His appointment to a three-year term is effective Feb. 1.
Sobel is recognized as an expert on governance, enterprise risk management, compliance, and internal control. He was selected for the position because of his extensive background along with his experience in corporate environments and professional service firms, according to COSO. He succeeds Robert Hirth, who served as COSO chairman since 2013.
In addition to leading audit functions at four large companies, Sobel has held leadership roles as chairman of the Global Board for The IIA and as chairman of an audit committee for a privately held company. He also served as editor of Internal Auditor magazine's "Risk Watch" column from 2008 to 2017.
"It is an honor and privilege to be selected as COSO's new chairman," Sobel says. "I have been actively involved in the latest developments with the committee to help organizations across the globe improve their risk management, governance, and controls in our collective effort to deter corporate fraud."
Sobel was chosen from a group of more than a dozen applicants after a rigorous selection process.
"Paul is an exemplary leader with a strong vision," said COSO Lead Director and IIA President and CEO Richard F. Chambers. "I, along with the Board, strongly believe that he is well-qualified to further COSO's important mission."
Sobel also is a longtime volunteer with The IIA. In addition to serving as global chairman in 2013–2014, he was president of the Internal Audit Foundation, program chair for The IIA's International Conference in 2010 and 2013, and The IIA's representative on the Pathways Commission, which developed recommendations to enhance the future of accounting education in the United States.