Who Will Provide Assurance for ESG Reports

A recent IFAC report highlights the rapid growth in ESG reporting, with over 95% of large companies reporting and two-thirds securing assurance. The Big 4 handle most assurance engagements, with major standards like ISAE and ISO shaping the field. Variations in assurance providers across countries complicate matters. Key challenges include ensuring comparability, addressing conflicts of interest, and capacity limitations, especially within the Big 4. South Africa’s experience underscores the need for integrated reporting and better ESG education in universities.