Climate change

The Securities and Exchange Commission voted to end its defense of the climate-related disclosure rule it approved last year under the Biden administration.

The CPA organizations sent a joint comment letter to the California Air Resources Board asking for changes in the state's climate risk disclosure rules.

The Institute of Management Accountants released a report on why business sustainability depends on the competencies of management accountants.

The Carbon Disclosure Project and the Global Reporting Initiative plan to deepen their collaboration.

Some 30 jurisdictions are making progress on introducing international sustainability standards in their legal or regulatory frameworks.

The International Auditing and Assurance Standards Board is preparing for the adoption of its International Standard on Sustainability Assurance 5000 early next year.

The International Public Sector Accounting Standards Board released a draft version of a sustainability reporting standard for use by governments around the world.

The new regulatory environment has faced legal challenges, creating uncertainty for companies and auditors.

Despite the focus, however, most audit plans don't currently prioritize the risks, according to a new report from the Institute of Internal Auditors.

CPA firms are perfectly positioned to provide advisory and assurance services on ESG reporting, given their infrastructure around audit quality, independence requirements, and professional development.