Bloomberg Tax
Free Newsletter Sign Up
Login
BROWSE
Bloomberg Tax
Welcome
Login
Advanced Search Go
Free Newsletter Sign Up

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 ...