Internal Auditors are continuously expected to wear different hats when executing their roles. Regulators, investors and other stakeholders are directing their attention to ESG (Environmental, Social & Governance) reported information. As the regulatory focus on ESG continues to expand, ESG reporting is even more imperative. ESG is not only concerned with environmental matters, but it also encompasses an array of topics that are not typically captured by traditional risk management or financial reporting. Regulatory reporting aims to develop an extensive range of high-quality sustainability disclosure standards to meet investors’ information needs.
ESG standards and frameworks have been established to enhance transparency and to guide organisations in reporting on ESG requirements. On that account, stakeholders need to be presented with accurate and trustworthy information, which creates an opportunity for internal auditors to venture in. Organisations are grappling with these newly established and emerging ESG reporting frameworks. It is expected that entities implement robust policies, processes and internal controls that result in precise and consistent information. Internal…
