Interested? Contact us now
In order to contact us please fill the form on the right or directly email us at the address below
sales@senecaesg.comUK’s accounting regulator, the Financial Reporting Council (FRC), will monitor whether auditors are making spot checks on their compliance with environmental, social, and governance (ESG) reporting requirements in company audits, as reported by Reuters on January 30. On the same day, the FRC updated its ESG Statement of Intent, which was initially issued in 2021 to address issues with the production, audit and assurance, distribution, consumption, supervision, and regulation of ESG information. The FRC mentioned in the updated statement that in 2023 it will focus on ESG data usage and the link between investors and ESG reporting by companies.
The updated ESG Statement of Intent continued FRC’s efforts to drive best practices in high-quality and comparable ESG reporting and disclosure. In 2022, the watchdog reviewed the audit team’s consideration of climate change in their risk assessment procedures, and incorporated in the listed companies’ reports and accounts the Task Force on Climate-Related Financial Disclosures (TCFD) disclosures and the impact of climate on the financial statements.
In 2023, the FRC will develop guidance and best practices on the distribution and consumption of ESG data and examine companies’ materiality processes to figure out ways to help companies provide stakeholders with relevant and decision-useful information. Moreover, it plans this year to revise the UK Corporate Governance Code to recognize the growing importance of ESG reporting in the work of company boards.
https://www.frc.org.uk/news/january-2023/frc-updates-2021-statement-of-intent-on-esg
https://www.responsible-investor.com/uks-accounting-watchdog-trains-sights-on-esg-auditors/
Monitor ESG performance in portfolios, create your own ESG frameworks, and make better informed business decisions.
In order to contact us please fill the form on the right or directly email us at the address below
sales@senecaesg.com7 Straits View, Marina One East Tower, #05-01, Singapore 018936
+65 6223 8888
Gustav Mahlerplein 2 Amsterdam, Netherlands 1082 MA
(+31) 6 4817 3634
77 Dunhua South Road, 7F Section 2, Da'an District Taipei City, Taiwan 106414
(+886) 02 2706 2108
Viet Tower 1, Thai Ha, Dong Da Hanoi, Vietnam 100000
(+84) 936 075 490
Av. Santo Toribio 143,
San Isidro, Lima, Peru, 15073
(+51) 951 722 377
1-4-20 Nishikicho, Tachikawa City, Tokyo 190-0022