FRC ramps up ESG scrutiny on auditors

The Financial Reporting Council (FRC) plans to monitor auditors more closely to make sure they are correctly following ESG reporting requirements in company audits, as many firms admit widespread confusion

The UK’s audit watchdog has identified problems with the production of environmental, social and governance (ESG) reporting, as regulators across the globe seek to prevent ‘greenwashing’ from companies trying to attract investors.

The FRC has published an update to its original ESG statement in 2021, setting out ongoing challenges in ESG reporting, including around correctly reporting ESG data.

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