In the latest review of the assurance of sustainability reporting, the Financial Reporting Council (FRC) expressed concerns about a ‘lack of quality consistency’ amid growing demand, although it said that the market was ‘functioning well’.

Once again, market domination appears to be an influencing factor with an increase in the number of FTSE 350 companies using Big Four auditors to handle their sustainability assurance.

Despite a total of 59 providers plying their services, the market is becoming Big Four centric, with over a third of FTSE 100 companies using their incumbent audit firm to handle sustainability assurance work.