EU APPROVES SUSTAINABILITY REPORTING STANDARD THAT IS CLOSER TO ISSB, BUT RETAINS KEY DIFFERENCES
July 26th, 2023
The release by the European Commission (EC) of the first European Sustainability Reporting Standards (ESRS) on July 31 has prompted concern that while efforts have been made to align these with International Sustainability Standards Board (ISSB) models, there are still important contrasts (1).
These will, said Mark Vaessen, a partner at KPMG in the Netherlands, increase reporting work for companies and their accountants: “One of the main areas of concern flagged by many respondents to the EC’s recent consultation is that the definitions of financial ...
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