Today, in response to extensive feedback to date and in consideration of the dynamic regulatory and economic landscape, COSO announced the withdrawal of its Corporate Governance Framework (CGF) Public Exposure Draft, which had been released for public comment through September 12 (extended from July 11) (we reported on here). COSO and the NACD, which collaborated on the development of the CGF, expect to reintroduce a revised draft at a later date that will be informed by key constituencies. The Society plans to be engaged in any future efforts.
Thank you to all of the members of the working group who informed our extension request and substantive feedback to COSO.