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Extended external reporting assurance: Current practices and challenges
Journal of International Financial Management & Accounting ( IF 2.808 ) Pub Date : 2021-01-05 , DOI: 10.1111/jifm.12127
Joanna Krasodomska 1 , Roger Simnett 2 , Donna L. Street 3
Affiliation  

This paper summarizes the UNCTAD ISAR WBCSD Webinar—Assurance on Sustainability Reports: Current Practices and Challenges, which explored views and practices on assurance of extended external reporting (EER) and identified challenges and potential ways forward. Stakeholders are demanding more accountability, as reflected in increased publication of EER and regulatory developments. EER can play an important role in rebuilding trust by catalyzing corporate focus and disclosure of business‐centric matters material to stakeholders including strategy, business model, governance, and greater transparency on other material non‐financial matters. Relatedly, EER cannot rebuild trust unless disclosures are credible and viewed as credible. Therefore, it is important that assurance, and other credibility enhancing techniques, is developed alongside EER frameworks and takes account of regulatory initiatives. We expand on lessons outlined during the Webinar by highlighting questions posed by participants, providing a historical overview of European regulatory developments (e.g., Directive 2014/95/EU and a forthcoming revision), providing a historical overview of the IAASB’s development of ISAE 3000 and forthcoming guidance on addressing major challenges aimed at supporting EER assurance, and providing an overview of practice‐focused publications addressing EER assurance. We conclude with an assessment of the way forward in regard to possible changes in the EER institutional setting, potential harmonization of EER standards, and the ability to provide reasonable versus limited assurance. Along with our companion paper (Venter and van Eck, 2021, 32), we contribute to the current discussion on EER assurance by providing a comprehensive assessment of the EER assurance landscape.

中文翻译:

扩展的外部报告保证:当前的做法和挑战

本文总结了贸发会议ISAR WBCSD网络研讨会—可持续发展报告的保证:当前的做法和挑战,探讨了有关确保扩展外部报告(EER)的观点和做法,并确定了挑战和潜在的前进方式。利益相关者要求加强问责制,这体现在EER和法规发展的增加。EER可以通过促进公司关注并向利益相关方披露重大的以业务为中心的事项(包括战略,业务模式,治理以及在其他重大非财务事项上提高透明度),在重建信任中发挥重要作用。与此相关,EER不能重建信任,除非披露是可信的并且被视为可信的。因此,重要的是与EER框架一起发展保证和其他可信度增强技术,并考虑监管措施。我们在网络研讨会上概述的课程中重点介绍参与者提出的问题,对欧洲法规的发展进行历史回顾(例如,第2014/95 / EU号指令和即将发布的修订版),对IAASB对ISAE 3000和即将发布的有关应对旨在支持EER保证的主要挑战的指南,并概述了针对EER保证的以实践为重点的出版物。最后,我们对EER机构设置的可能变化,EER标准的潜在协调以及提供合理与有限保证的能力之间的前进方向进行了评估。连同我们的随行论文(指令2014/95 / EU和即将发布的修订版),提供了IAASB发展ISAE 3000的历史概述,以及即将发布的有关应对旨在支持EER保证的重大挑战的指南,并概述了针对EER保证的以实践为中心的出版物。最后,我们对EER机构设置的可能变化,EER标准的潜在协调以及提供合理与有限保证的能力之间的前进方向进行了评估。连同我们的随行论文(指令2014/95 / EU和即将发布的修订版),提供了IAASB发展ISAE 3000的历史概述,以及即将发布的有关应对旨在支持EER保证的重大挑战的指南,并概述了针对EER保证的以实践为中心的出版物。最后,我们对EER机构设置的可能变化,EER标准的潜在协调以及提供合理与有限保证的能力之间的前进方向进行了评估。连同我们的随行论文(最后,我们对EER机构设置的可能变化,EER标准的潜在协调以及提供合理与有限保证的能力之间的前进方向进行了评估。连同我们的随行论文(最后,我们对EER机构设置的可能变化,EER标准的潜在协调以及提供合理与有限保证的能力之间的前进方向进行了评估。连同我们的随行论文(Venter和van Eck(2021,32),我们通过提供对EER保证前景的全面评估,为当前有关EER保证的讨论做出了贡献。
更新日期:2021-01-29
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