Challenges of sustainability-assurance practices : Insights from the Big 4 accounting firms

• This chapter deals with how the increased importance of sustainability, as well as more stringent regulations of sustainability reporting and assurance, act as drivers that transform the audit industry. Specifically, the purpose of this chapter is to increase the understanding of how the Big 4 accounting firms cope with the challenges of sustainability assurance by exploring the knowledge and skills that are deemed important when executing such task. Based on interviews with auditors involved in sustainability reporting audits within the Big 4, this chapter finds that sustainability assurance is challenging because the landscape of sustainability reporting is diverse and subject to regulatory changes. In addition, sustainability assurance is different from financial auditing and has so far been voluntary leading to practice variation across accounting firms. The findings indicate that sustainability auditors need knowledge of sustainability, reporting and assurance standards and regulations, as well as skillsof being adaptable, interactive, analytical, and critical. Due to the ‘regulatory tornado’, they also need to be equipped with curiosity, patience, and willingness to read and stay up to date. The indications that sustainability and financial reporting are becoming increasingly integrated call for collaboration among sustainability and financial auditors.

Ämnesord

SAMHÄLLSVETENSKAP  -- Ekonomi och näringsliv -- Företagsekonomi (hsv//swe)

SOCIAL SCIENCES  -- Economics and Business -- Business Administration (hsv//eng)

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