Assurance is not mandatory under the current FCA proposal. However, the FCA proposes that a statement be included in annual reporting as to whether assurance has been obtained over any UK SRS disclosures. Where obtained, it is expected that companies will include sufficient information for a reader to understand the nature and scope of assurance.<\/p>\n
We expect this to result in a greater market-led demand for assurance by boards, investors and other stakeholders who require credible disclosures. Where financially material sustainability information is being disclosed by companies (as required by UK SRS), a statement that assurance has not been obtained could be at odds with the relative importance to stakeholders. This contradiction would be exacerbated where peers obtain assurance over the same information.<\/p>\n
Where a UK company has a global footprint, third-party assurance may also be driven by assurance being mandatory in another jurisdiction (e.g. the European Union and countries such as Australia, and Pakistan). Having a centralised approach to Sustainability reporting and assurance could drive efficiency in meeting global requirements.<\/p>\n
As outlined in the FCA consultation, sustainability assurance had increased to 57% of the FTSE 350 by 20232. KPMG research found that 85% of the FTSE 100 obtained third-party assurance over sustainability information in 20253.\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"Assurance is not mandatory under the current FCA proposal. However, the FCA proposes that a statement be included…\n","protected":false},"author":2,"featured_media":553469,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[59,57,58,50,56,54,55],"class_list":["post-553468","post","type-post","status-publish","format-standard","has-post-thumbnail","category-united-kingdom","tag-gb","tag-great-britain","tag-greatbritain","tag-news","tag-uk","tag-united-kingdom","tag-unitedkingdom"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/553468","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/comments?post=553468"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/posts\/553468\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media\/553469"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/media?parent=553468"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/categories?post=553468"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/uk\/wp-json\/wp\/v2\/tags?post=553468"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}