David Landsittel, an accounting and auditing industry veteran who was recently elected chairman of the Committee of Sponsoring Organizations (COSO), will lecture, conduct research and speak at executive forums organized by DePaul this year.  Representing five major U.S. finance and accounting associations, COSO provides the private sector with influential guidance on internal controls, enterprise risk management and fraud deterrence designed to improve organizational performance and governance. An example of COSO’s work is the recent issuance of a thought paper that aims to guide organizations on defining the roles of boards of directors and senior managers in effective enterprise risk oversight.

While at DePaul, Landsittel will collaborate with faculty on COSO-related research projects involving enterprise risk management and participate in executive roundtables and other special events throughout the year sponsored by DePaul’s Center for Strategy, Execution and Valuation.  DePaul accounting and auditing students will benefit from his knowledge because he will deliver guest lectures in classes at DePaul’s School of Accountancy and Management Information Systems this year.

Landsittel’s presence at DePaul “will put us at the forefront of the area of enterprise risk management, which is an area where we already have significant expertise,” said Ray Whittington, dean of the College of Commerce.

“Arising out of our recent financial crisis, there is a feeling that some companies took on too much risk, didn’t understand the risks they were involved in, and didn’t have a process to effectively manage their risks,” Landsittel said. “These difficulties have made enterprise risk management a hot topic.  I’m excited to be involved with DePaul, working with students, faculty and area executives to address these issues, which are so important to the success of businesses and the effectiveness of their governance structures.”

Landsittel said he is pleased to be associated with DePaul “because it has one of the largest and most respected business and accounting programs in the country, and also a terrific strategic risk management center.” 

DePaul Accountancy Professor Mark Frigo said Landsittel’s expertise will be a boon for the recently launched Strategic Risk Management Lab that is part of the Center for Strategy, Execution and Valuation.  Frigo, who directs the center, said the lab serves as “an engagement platform” for thought leaders and practitioners to exchange information about leading practices in enterprise risk management. “All of this is very well-timed and synergistic in that we have the ability to work closely with someone like David, who is a recognized thought leader in risk management,” Frigo said. 

The lab plans quarterly executive forums for directors, executives and management teams interested in developing strategic risk management as a core competency. These forums will include the latest diagnostics for assessing an organization’s enterprise risk management and strategic risk management processes and capabilities.

Meanwhile, Landsittel’s guest lectures at the College of Commerce will extend DePaul’s reputation for offering students practical, real-world education, said Clinical Professor Richard Anderson.  For instance, Landsittel will talk to an undergraduate class studying internal auditing and COSO.   “How better to study it than if you have chairman standing right there?” Anderson asked.

In addition to his work with DePaul and COSO, Landsittel is a board member and audit committee chair for Lisle-based Molex Inc. and Burnham Investors Trust for the Burnham Family of Funds. He began his career and spent 34 years with Arthur Andersen & Co. and later developed his own consulting practice advising accounting firms and others on audit quality control and related issues.  He was previously chair of the Illinois CPA Society and chaired the CPA Endowment Fund of Illinois, a non-profit group that provides scholarships and encourages qualified students to pursue careers in public accounting. He holds an MBA from the University of Chicago Graduate School of Business and an undergraduate degree from DePauw University.