CSRD Self-Assessment

ESG - Sustainability

								
																												Take this quick and easy self-assessment to find out where you are on your journey towards sustainability and readiness for the Corporate Sustainability Reporting Directive (CSRD).

What is the Corporate Sustainability Reporting Directive (CSRD)?

The Corporate Sustainability Reporting Directive (CSRD) is a new EU directive that will impact large and listed companies, requiring them to disclose information on how they monitor a wide range of ESG issues and their impact on our planet.

The primary objective of the CSRD is to foster transparency and accountability while advancing sustainable practices and investments. With heightened stakeholder scrutiny and expanded reporting obligations, companies are compelled to disclose a broader spectrum of ESG metrics, offering stakeholders unparalleled insight into their sustainability endeavors.

Beyond regulatory compliance, the CSRD presents a unique opportunity to deepen your organization's understanding of sustainability risks and opportunities. By integrating reporting into your business strategy, you can unlock the dual benefits of profit and purpose, safeguard your reputation, and drive sustainable growth. Ensuring compliance and staying ahead of the curve are imperative for success in today's evolving landscape.

Do your CSRD Readiness Assessment!

Frequently Asked Questions

What level of assurance is required for CSRD sustainability reporting?

Initially, limited assurance is required. The European Commission plans to assess moving to reasonable assurance in the future.

Who can provide assurance on CSRD sustainability reports?

The statutory auditor must provide an opinion, but Member States may also allow other statutory auditors or independent assurance services providers to perform the work.

What standards will be used for CSRD assurance engagements?

The European Commission will adopt limited assurance standards by 1 October 2026. Until then, national standards may be used.

What is the scope of the assurance engagement?

It covers compliance with CSRD reporting requirements, including the European Sustainability Reporting Standards, the materiality assessment process, digital tagging requirements, and EU Taxonomy alignment.

Can companies voluntarily obtain reasonable assurance?

Yes, companies may choose to obtain reasonable assurance on all or part of their sustainability reporting, though this is not required.

When does the assurance requirement take effect?

Assurance is required from 2025 on the 2024 year-end reports for companies in the first phase of CSRD implementation.

Will there be guidance for assurance providers before EU standards are finalised?

Yes, the Committee of European Auditing Oversight Bodies (CEAOB) will develop non-binding guidelines to promote consistency.

What qualifications are required for independent assurance services providers?

They must meet requirements equivalent to those for statutory auditors under the Audit Directive, including on education, quality assurance and ethics.

Can shareholders request additional assurance work?

Shareholders with over 5% voting rights or capital can request an accredited third party to report on specific elements of sustainability reporting.

How does sustainability assurance relate to the financial statement audit?

The statutory auditor must consider consistency between financial and sustainability information as part of their work.