The Commission, the Council, the EP and the ECB published their joint report assessing developments in the EU market for carrying out statutory audits on public-interest entities (PIEs) from 2019 to 2021. It focuses on market concentration, the risks arising from audit quality deficiencies and the performance of audit committees.
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ESG topics are still a priority for the European Regulator and the CSDDD should be amended soon, with a reduced scope. Please find below the details.
The post Factsheet: Corporate Sustainability Due Diligence Directive appeared first on ECIIA.
On 15 March 2024, the Council endorsed the agreement on the Corporate Sustainability Due Diligence Directive (CS3D) following the compromise text proposed by the Belgian Presidency. The agreement comes after months of uncertainty and continuous negotiations between the Presidency and Member States, in pursuit of securing a qualified majority of parties agreeing on the text. […]
The post European Council: endorsement of the agreement on the Corporate Sustainability Due Diligence Directive (CS3D) appeared first on ECIIA.
The European Parliament just approved the Artificial Intelligence Act that ensures safety and compliance with fundamental rights, while boosting innovation. The regulation agreed in negotiations with member states in December 2023, was endorsed by MEPs with 523 votes in favour, 46 against, and 49 abstentions. It aims to protect fundamental rights, democracy, the rule of law and […]
The post Artificial Intelligence Act: MEPs adopt landmark law appeared first on ECIIA.
As announced at the ESG Day in December, DG Fisma asked the CEAOB to work on the adoption of non-binding assurance guidelines to help independent assurance providers, in the absence of EU standards. There will be a consultation that should be published before the end of 2024. In addition, they ask technical advice (before May 2025) for the […]
The post European Commission: request of non-binding assurance guidelines and technical advice to the CEAOB appeared first on ECIIA.
EFRAG released the second set of Explanations to respond to stakeholders’ technical questions on the ESRS. These responses are provided as part of EFRAG’s role as technical advisor to the European Commission and are expected to provide a practical and timely support for preparers and others in the implementation of ESRS. The 12 Explanations released […]
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European policymakers have reached an agreement on the EU legislation on the Solvency II Directive. Accordingly, the balance sheet disclosed as part of the solvency and financial condition report will be subject to an audit by a statutory auditor for all insurance and reinsurance undertakings, apart from small and non-complex undertakings and captive insurance and […]
The post European Council and Parliament agree on new Solvency II Directive rules appeared first on ECIIA.
European policymakers have reached an agreement on the EU legislation on the Solvency II Directive. Accordingly, the balance sheet disclosed as part of the solvency and financial condition report will be subject to an audit by a statutory auditor for all insurance and reinsurance undertakings, apart from small and non-complex undertakings and captive insurance and […]
The post European Council and Parliament: agreement on new Solvency II Directive rules appeared first on ECIIA.
The ECB just issued a Working Paper on “Climate transition risk in the banking sector: what can prudential regulation do?” The analysis contributes to the debate by providing theoretical evidence that supports the view that banking capital requirements should explicitly incorporate risks arising from the transition to a low-carbon economy. The paper also looks at […]
The post ECB | Climate transition risk in the banking sector: what can prudential regulation do? appeared first on ECIIA.
What does sustainability transition mean for your company? What keeps you awake at night? Policymakers and regulators are introducing new legislation on companies’ sustainability obligations that will profoundly impact businesses. Accountancy Europe, the European Confederation of Directors’ Associations (ecoDa), the European Confederation of Institutes of Internal Auditing (ECIIA) and Chapter Zero Brussels jointly invite you […]
The post Webinar: How can company boards lead the sustainability transition? appeared first on ECIIA.