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BT Explains: What is limited assurance?

The degree of confidence about a company’s sustainability and climate-related disclosures could be influenced by the kind of independent assurance that has been carried out

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Michelle Quah

Michelle Quah

Published Mon, Oct 3, 2022 · 05:50 AM
    • Investors are familiar with audits of financial statements, but fewer are aware that a similar form of assurance is increasingly being obtained for non-financial disclosures on sustainability and climate-related conduct.
    • Investors are familiar with audits of financial statements, but fewer are aware that a similar form of assurance is increasingly being obtained for non-financial disclosures on sustainability and climate-related conduct. PHOTO: PIXABAY

    As the demand for sustainability and climate-related corporate disclosures grows — along with the threat of greenwashing — more and more businesses are looking to obtain external assurance for their disclosures.

    The thinking behind this is that, as in the case of audits of financial statements, an opinion by an external party gives an independent and verified view of the information presented and, hence, lowers the risk of misrepresentation.

    But these can take various forms, and it is important for the users of such information to understand the differences.

    ESGAuditClimate-related financial disclosures

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