The study aims to ensure this rapidly growing market is functioning effectively and providing high quality assurance over companies’ sustainability reporting without placing excessive costs on business.

This is the first time the FRC has conducted a market study, which is a powerful regulatory tool for exploring issues within a market in-depth and can lead to proposals and regulatory change to improve how the market functions.

The market for providing independent assurance over the sustainability information disclosed by UK companies has been expanding quickly in recent years.