Navigating Uncertainty in Sustainability Assurance: Challenges of the Corporate Sustainability Reporting Directive in Romania and Austria
The implementation of the Corporate Sustainability Reporting Directive (CSRD), which requires assurance on sustainability reports for numerous companies, has reached different implementation stages throughout the EU. This study investigated the key uncertainties and challenges arising from the ne...
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| Main Authors: | , , , |
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| Format: | Article |
| Language: | English |
| Published: |
Editura ASE
2025-08-01
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| Series: | Amfiteatru Economic |
| Subjects: | |
| Online Access: | https://www.amfiteatrueconomic.ro/temp/Article_3447.pdf |
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| Summary: | The implementation of the Corporate Sustainability Reporting Directive (CSRD), which
requires assurance on sustainability reports for numerous companies, has reached different
implementation stages throughout the EU. This study investigated the key uncertainties and
challenges arising from the new assurance obligations, focusing on auditors in Romania and
Austria. We explored auditors' perceptions of legal uncertainties, the integration of financial
and sustainability reporting, and the need for additional resources and competencies, by
means of a questionnaire-based survey. The results indicated that auditors that had already
provided sustainability assurance were better informed about CSRD implementation, with
significant differences in their perception of specific matters. Country-specific variations
were identified, to a small extent. Legal uncertainties and the need for technical expertise
were highlighted as major challenges. The study provides valuable insights into the current
state of sustainability assurance in the context of the CSRD, and contributes to the literature
by includin g perspectives from both Big4 and Non-Big4 audit firms.
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| ISSN: | 1582-9146 2247-9104 |