The Committee of Sponsoring Organizations of the Treadway Commission, also known as COSO, has named Robert B. Hirth Jr., a founding managing director of the consulting firm Protiviti, as the new chairman of the organization for a three-year term, effective Monday.
Hirth is succeeding retiring chairman David Landsittel, CPA, who has served as COSO chairman since 2009. COSO provides thought leadership and guidance on internal control, enterprise risk management and fraud deterrence, and recently issued an updated internal control framework (see COSO Releases Updated Internal Control Framework).
A prolific thought leader, renowned risk management and internal control professional, Hirth was selected for the position after a four-month search for a successor to Landsittel. COSO said its board was particularly impressed by Hirth’s deep knowledge and experience in risk management and internal control matters, his leadership skills, public speaking experience, and commitment to the success of organizations through effective governance practices.
“I am honored to be selected as the new COSO chair and look forward to working with the board, each of the sponsoring organizations, and the many other firms and individuals whose goal is to help organizations of all types improve their operations, risk management, governance and control,” Hirth said in a statement. “One of my immediate goals will be to effectively and extensively communicate the benefits of and updated concepts in the recently revised Internal Control – Integrated Framework.”
Landsittel said COSO had chosen the right person to succeed him. “It has been an honor and very rewarding experience for me to lead COSO, working with such an outstanding board and so many other qualified individuals,” he said. “I, along with the board, strongly believe that Bob is the right person to take COSO to the next level.”
Hirth is a founding managing director of Protiviti, a global consulting firm of more than 2,500 employees in over 20 countries. He previously served as executive vice president of Protiviti’s Internal Audit and Financial Control practice and as a member of the firm’s six-member global Executive Team. He has had significant international responsibilities with the firm assisting practice operations and led the firm’s Western U.S. region in the initial years of Protiviti’s operations.
Hirth has participated in various activities of COSO’s five sponsoring organizations, including practicing as a CPA in Texas and California. He is a member of Financial Executives International and has been recognized as a thought leader in the internal audit profession. He is currently serving a 2012-13 term on the Standing Advisory Group of the Public Company Accounting Oversight Board and was named as one of the Institute of Internal Auditors’ latest inductees into the American Hall of Distinguished Audit Practitioners in March 2013.
COSO’s board also extended its deepest gratitude Monday to David Landsittel for his outstanding service and significant contribution to COSO. During his four-year term as chair, he led significant and notable initiatives such as the revision of the Internal Control - Integrated Framework. In addition, he encouraged and oversaw the publication of several thought papers, spoke at dozens of conferences and influenced the global outreach of COSO’s mission and guidance. COSO said Landsittel’s expertise, insights and counsel will be missed, and the board wished him much success in his future endeavors.
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