New Insight from the ECB In the latest Macroprudential Bulletin, the European Central Bank examines the link between geopolitical risk and bank solvency. The analysis, covering 120 years of data, reveals that heightened geopolitical tensions often lead to lower bank capitalisation, impacting economic stability. Key findings include: Explore the full article to understand how policymakers […]
In line with the European Commission’s goal to reduce reporting burdens and enhance competitiveness, the European Parliament has voted on the Omnibus I proposal, bringing legal clarity to the Corporate Sustainability Reporting Directive (CSRD) and the Corporate Sustainability Due Diligence Directive (CSDDD). Key takeaways: This decision aims to provide businesses with the necessary time and […]
Another edition of the Risk in Focus Webinar Series is here! As regulations, such as the Corporate Sustainability Reporting Directive (CSRD), increase requirements for organisations’ reporting efforts, internal auditors play a crucial role in addressing climate change, biodiversity, and environmental sustainability risks. Some key facts include: It is clear that internal auditors are vital in […]
With the Omnibus package under discussion, ESG reporting is more important than ever. Reliable internal control systems are key to ensuring transparency and accountability in sustainability disclosures. IIA Spain, in collaboration with the main stakeholders, has released “Internal Control over Sustainability Reporting (ICSR)”—a practical guide highlighting the vital role of internal audit and other important […]
Cyber threats are evolving daily, pushing EU regulators to introduce new standards like DORA and NIS2 to enhance cyber resilience and mandate incident disclosure. A recent AuditBoard and Ascend2 Research survey reveals that many risk, InfoSec, and IT compliance professionals are concerned about the impact of these regulations on their work. Internal auditors and IT […]
The European Securities and Markets Authority (ESMA) and national regulators across the EU have initiated a joint review of retail fund management companies and alternative investment managers. The review, which will be carried out throughout the year, will assess whether internal audit functions have the necessary staffing, authority, knowledge, and expertise to fulfill their responsibilities. […]
The European Insurance and Occupational Pensions Authority (EIOPA) has opened a consultation on its Opinion on Artificial Intelligence Governance and Risk Management. This Opinion provides guidance for supervisors and insurance undertakings on interpreting and implementing sector-specific provisions in light of AI adoption and sets high-level supervisory expectations for the responsible use of AI in insurance, […]
We’re pleased to present our new factsheet, which outlines the latest updates to the Corporate Sustainability Due Diligence Directive (CSDDD), following the European Commission’s proposed amendments on February 26, 2025. The revisions aim to ease regulatory burdens while maintaining the EU’s Green Deal objectives. The factsheet provides a concise breakdown of these updates impacted by […]
The European Commission’s Omnibus proposals introduce significant changes to the Corporate Sustainability Reporting Directive (CSRD), impacting reporting requirements, materiality assessments, and assurance levels. Our latest factsheet provides a concise overview of these updates, helping organisations navigate the evolving regulatory landscape. 📄 Access the factsheet here.
The European Commission has disclosed two major legislative packages—Omnibus I and Omnibus II—aimed at reducing regulatory burdens, improving sustainability rules, and unlocking investment. Objectives The proposals seek to achieve: Key Changes for CSRD Key Changes for CSDDD Next Steps The proposals are now under review by the European Parliament and the Council. ECIIA Perspective The […]
