Future of audited sustainability reporting

Most big companies operating internationally will face mandatory environmental, social and governance reporting requirements over the next few years.

As Tom Seidenstein, chair of the International Auditing and Assurance Standards Board, explained in this Bloomberg article, the reports will have to undergo limited assurance.

“The earliest mandate is coming from the European Union, which will demand sustainability reports for all big companies, including foreign companies operating there, starting in fiscal 2024. At first the reports will have to undergo limited assurance—accuracy checks by an outside firm—but within a few years they will have to get full audits”.

Read the article in full at:
https://news.bloomberglaw.com/financial-accounting/explainer-why-global-esg-audits-will-be-limited-at-first