Audit committees may take on responsibility for sustainability reporting oversight

The International Sustainability Standards Board (ISSB) has released a request for information to shape its work plan. European Sustainability Reporting Standards (ESRS) will be adopted by the EU, and the Securities and Exchange Commission (SEC) in the US plans to issue rules on climate-related and human capital disclosures. India's Securities and Exchange Board (SEBI) has announced mandatory sustainability reporting requirements. A study highlights a trust gap between reported sustainability information and the level of assurance obtained. The International Auditing and Assurance Standards Board (IAASB) is working on an overarching standard for sustainability reporting assurance. With increasing regulatory requirements, audit committees may take on responsibility for sustainability reporting oversight.

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