IFAC, AICPA and CIMA study shows increasing maturity in sustainability reporting
IFAC, AICPA and CIMA study shows increasing maturity in sustainability reporting
The International Federation of Accountants (IFAC), the American Institute of CPAs (AICPA) and the Chartered Institute of Management Accountants (CIMA) conducted a study to understand the ESG reporting and assurance practices on a global basis. The study included review of around 1,400 companies from 22 jurisdictions and covers the period from 2019-2022.
The study found that the largest global companies are providing more detail and breadth in their sustainability reporting and are also obtaining a greater scope of assurance on those disclosures. The study also observed the use of varying sustainability standards and reporting frameworks. On a positive note, the study found that over half of the companies reviewed use the SASB Standards and the TCFD Framework, which should ease the transition to the ISSB standards.
The study report may be accessed here.
The study found that the largest global companies are providing more detail and breadth in their sustainability reporting and are also obtaining a greater scope of assurance on those disclosures. The study also observed the use of varying sustainability standards and reporting frameworks. On a positive note, the study found that over half of the companies reviewed use the SASB Standards and the TCFD Framework, which should ease the transition to the ISSB standards.
The study report may be accessed here.