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New IFAC Study Reveals Lack of Standardization in Sustainability Assurance

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Jun 23, 2021

On June 23, 2021, a new study from the International Federation of Accountants (IFAC) and the AICPA & CIMA (representing the Association of International Certified Professional Accountants) advises that global practices for sustainability assurance—including the prevalence of assurance, level of assurance, and standard and practitioner used—varies widely by jurisdiction, The new study is a groundbreaking review that provides a comprehensive global picture of the current status of assurance.

As the drive toward a global system for sustainability-related reporting continues, investors, regulators and policymakers are turning their attention to the important role of assurance in promoting high-quality reporting. With the growing importance of—and reliance on—sustainability information, low-quality assurance is an emerging investor protection and financial stability risk.

For further details, refer to full study which is available on the IFAC website. 

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