The Association of Chartered Certified Accountants (ACCA), the European Confederation of Institutes of Internal Auditing (ECIIA), Deloitte and Accountancy Europe hosted an event to discuss the challenges of audit and assurance of Environmental, Social and Governance (ESG) information, ahead of COP 26.
The event, attended by over 780 participants in the industry, also launched a new guide on Natural Capital Management, which outlines the key principles that should govern the natural capital internal audit assignments and external assurance engagements.
Sharon Machado, head of business reporting at ACCA and lead author of the new guide, said: “Internal and external auditors are well placed to play a crucial role in sustainability audit and assurance because of their public interest remit. The core purpose of the audit profession is to support the creation, protection and communication of sustainable value through their assignments.
“Our guide outlines a four-step approach to assignments, an approach developed using the insight from standard setters, and from internal and external audit experts – who understand the need for integrated thinking across sustainability, financial and non-financial issues.”
She added: “Auditors must maintain their expertise by remaining committed to continual learning that extends beyond qualification to continual professional development and importantly via collaboration. It is with this base, together with the features of their role that they can influence ethical decision-making.”