Regulatory Alerts2023-06-29
CSRD: No Time to Lose
The Dutch Authority for the Financial Markets (AFM) issued an exploratory report analyzing the sustainability reporting and assurance practices of 27 listed companies and four major accounting firms ahead of the Corporate Sustainability Reporting Directive (CSRD) implementation. The findings reveal significant deficiencies in data reliability, transparency regarding climate impacts and negative effects, and the clarity of assurance statements, while highlighting an impending shortage of capacity and expertise. The AFM urges companies and auditors to urgently invest in IT systems, improve reporting quality, and prepare for the mandatory limited assurance requirements starting in 2024.
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