The European Commission has opened a consultation on draft standards for how sustainability reports by large companies should be checked by independent reviewers.
Large companies that meet certain size thresholds must publish information about their environmental and social impacts and risks under the EU’s Corporate Sustainability Reporting Directive (CSRD), the Commission said in a statement on Thursday.
That information must then be reviewed by an external party in a process known as “assurance.”
The Commission stated that it is consulting on “limited assurance” standards — a form of review that provides a lower level of assurance than a full audit-style check — for sustainability reporting.
A previous EU simplification package, known as Omnibus I, confirmed that companies will only be required to obtain limited assurance for sustainability reporting, and removed the option of introducing a future requirement for “reasonable assurance.”
Who is being asked to respond and by when
Draft standards have been prepared using technical advice from the Committee of European Auditing Oversight Bodies (CEAOB), while also considering existing international standards and EU law.
The consultation seeks feedback on the CEAOB’s advice and its proposed adjustments to an international standard, as well as views on how the standard can work most effectively in the EU context.
Responses are open to companies preparing sustainability reports, auditors, independent assurance providers, investors, standard-setters, oversight bodies and civil society organisations, with submissions accepted until 18 January 2027.
