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EU Opens Sustainability Audit Market to Curb Big Four’s Reach

June 22, 2022, 11:54 AM

European authorities hammered out an eleventh-hour agreement on sustainability audits that will open the market to a broad swath of companies, according to a final draft agreement.

  • Under the proposal, EU member states would be allowed to accredit independent certification companies to provide opinions on sustainability reporting
  • Commission also will work to encourage a “more open and diversified audit market,” according to the draft agreement reached on Tuesday
  • NOTE: Members of parliament had been pushing to open the market because of concerns that the Big Four accounting firms would extend their dominance into sustainability reporting audits
    • June 20, An $8 ...