United States of America


Paul J. Sobel, CIA, CRMA, QIAL, is Vice President/Chief Audit Executive for Georgia-Pacific, LLC, a privately-owned forest and consumer products company based in Atlanta, GA. He previously served as the CAE for three public companies: Mirant Corporation, an energy company based in Atlanta, GA.; Aquila, Inc., an energy company based in Kansas City, MO.; and Harcourt General’s publishing operations based in Orlando, FL.

In 2018, Paul was appointed Chairman of the Committee of Sponsoring Organizations of the Treadway Commission (COSO). He is leading the Board for a three-year term in the development of guidance and thought leadership on enterprise risk management, internal control, fraud and governance.

Paul has authored or co-authored four books: Managing the Risk of Uncertainty; Auditor’s Risk Management Guide: Integrating Auditing and ERM; Internal Auditing: Assurance and Consulting Services; and Enterprise Risk Management: Achieving and Sustaining Success.

Paul served as The IIA’s Chairman of the Board in 2013-2014, and has served in other IIA leadership roles. In 2012, he was recognized in Treasury & Risk Magazine’s list of 100 Most Influential People in Finance. He currently sits on the Consultancy Advisory Group for IFAC’s International Auditing and Assurance Standards Board (IIASB) and International Ethics Standards Board for Accountants (IESBA).

In the past, he served on the COSO ERM Advisory Council for the update to the COSO ERM framework and the Standing Advisory Group of the PCAOB. In 2017, he received The IIA’s Bradford Cadmus Memorial Award for distinguished service to the profession and was inducted into The IIA’s American Hall of Distinguished Audit Practitioners.


 10:00 - 10:50 (05/10/2018)


(AUDITORIUM) C.S 5.1. The new COSO ERM. Integrating with strategy and performance

In 2017, COSO issued its updated ERM Framework, titled Enterprise Risk Management: Integrating with Strategy and Performance.

This Framework shifts the focus of ERM from managing downside risks to creating, protecting and realizing value. Not surprisingly, there are many implications for internal auditors who are looking toward remaining valued and relevant in the future.

This presentation will help internal auditors understand their role in managing risk in uncertain times. In this session, participants will:

• Learn about the five components and twenty principles that make up the updated Framework.

• Understand how the framework can be used to identify, assess and manage specific groups of risks, such as environmental, social and governance-related risks (ESG).

• Identify how the Framework impacts internal audit’s assurance and advisory roles, including assessing the effectiveness of enterprise risk management.

• Explore ways to advance risk management in their organization.







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