Independent assurance enhance the credibility of the sustainability information reported by companies, thereby increasing the confidence of investors and other stakeholders.
The assurance of ESG data and information entails applying a level of rigor similar to that of financial statement audits, including a deep understanding of the interdependence between financial and non-financial information. In this context, ESG assurance providers must posses the same level of detailed knowledge about company’s business model as they do in financial audits. Such an approach reduces redundancy and enables a coherent risk assessment in the assurance processes, as well as the efficient use of resources throughout the ESG assurance process.
At KPMG in Romania & Moldova, ESG assurance activities are coordinated by KPMG Audit and carried out by mixed teams composed of financial auditors and ESG experts with experience in various industries. ESG experts contribute deep technical expertise in areas such as ESG reporting, carbon footprint calculation, and alignment with the EU Taxonomy, gained through involvement in relevant consulting projects.
The collaboration between financial auditors and ESG experts allows for the application of a robust assurance framework tailored to a wide range of sectors, reporting frameworks, and ESG indicators.
KPMG professionals provide ESG assurance services across a wide variety of sectors, reporting frameworks, and indicators, supporting organizations in meeting increasingly stringent regulatory requirements and addressing stakeholder expectations.
ESG assurance involves evaluating non-financial information in close connection with the financial and operational context of the organization and is conducted within a rigor comparable to that of a financial audit. When coordinated by the organization's existing financial auditor, it leverages an understanding of the company's financial and operational context, allowing for a coherent and consistent approach to the assurance of both financial and non-financial information.
The alignment of financial audit and ESG assurance activities contributes to increasing the coherence and relevance of information, providing stakeholders with a solid foundation for understanding the organization’s overall performance.
