“Only 51% of companies back up their reports on sustainability with assurance, a study of 1,400 companies by the International Federation of Accountants (IFAC) found, warning that low-quality assurance is an ’emerging investor protection and financial stability risk.'”
[COMMENTARY] I’ve had a big concern for over four decades. It’s that when ethical investing finally gets its day in the sun that there will be not only be agreed reporting standards but also a regulated independent class of specialized auditors to audit and assure the numbers and facts.
Low-quality assurance of ESG reports pose stability risk: IFAC, by Jim Tyson, June 24, 2021, CFO Dive, USA.