Access our specialized resource hub that delves into Environmental, Social, and Governance (ESG) factors. Gain the knowledge necessary to navigate the corporate governance landscape confidently. This hub is packed with resources to deepen your understanding of ESG criteria, empowering you to make informed decisions and seize opportunities.
ESG Reporting for Accountants
ESG Special Report: 2023 Review and Outlook
The ESG Special Report highlights 2023’s key developments and future opportunities in the ESG landscape for accountants, emphasizing increased regulatory requirements, the need for standardized frameworks, and the role of accountants in ensuring data reliability. It identifies opportunities in assurance services, the financial value of sustainability programs, and anticipates a rise in ESG service demand due to new regulations in 2024.
Source: CPA.com
Read MoreThe Growing Role of Audit in ESG Information Integrity and Assurance
Audits are increasingly crucial for ensuring the integrity of ESG information, highlighting the importance of third-party assurance for credibility and the transition from limited to reasonable assurance. CPAs are well-positioned for ESG assurance due to their expertise in financial audits, and their role is expected to grow as more companies seek reliable ESG disclosures to meet stakeholder demands.
Source: Thomson Reuters Institute
Read MoreWhat CPAs Need to Know about ESG Reporting
The regulatory environment for ESG reporting has changed significantly, increasing pressure on organizations to disclose their sustainability performance to meet stakeholder demands. As the demand for assurance on ESG reports grows, CPAs must familiarize themselves with the frameworks, standards, and regulatory requirements governing ESG reporting.
Source: NJCPA
Read MoreCalifornia Climate Disclosure Laws
Exploring California’s New Landmark Climate Disclosure Laws
California has enacted two pieces of legislation imposing unprecedented ESG reporting requirements on companies operating in the state, surpassing the SEC’s ongoing deliberations on climate disclosure for public companies. Experts from Sidley Austin delve into the details of these new regulations.
Source: Corporate Compliance Insights
Read MoreThe Sweeping Impacts of California’s Climate Legislation
On October 7, 2023, California Governor Gavin Newsom signed legislation requiring certain companies in California to disclose greenhouse gas emissions, climate-related financial risks, and voluntary carbon offsets. These regulations, SB-253, SB-261, and AB-1305, are the first U.S. industry-agnostic mandates for reporting on GHG emissions and climate risks, potentially affecting about 10,000 companies, including many privately held ones not covered by SEC regulations.
Source: Deloitte Accounting Research Tool
Read MoreCalifornia Passes Two Climate Disclosure Laws That Will Require Unique, Public Reporting of Carbon Emissions and Climate Risk
California’s Legislature has passed two new climate disclosure bills, SB 253 and SB 261, which will require entities doing business in the state to calculate and disclose their carbon footprint and climate risk. Expected to impact over 5,000 businesses, these laws will take effect in 2025 and could expose entities to new consumer class action risks while surpassing existing disclosure requirements.
Source: Katten Muchin Rosenman LLP
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