5.1 COSO 2013- Use it NOW for Sustainability and ESG
Sustainability programs and its related reporting have become integral to the corporate strategy, governance, activity and public reporting regimes. Traditional investors and other stakeholders are now relying on sustainability reporting in connection with their investment decision-making, valuation and evaluation activities. Companies and many public sector organizations are creating and managing sustainability programs that improve operations and customer satisfaction, increase earnings, and improve human capital management. The integrity, accuracy, timeliness and relevance of sustainability reporting, both internal and external, now need to be on a par with traditional financial reporting which includes effective internal control over such reporting. Internal auditors have a key role to play in helping their organizations meet stakeholder expectations, report, design, develop, maintain and evaluation effective internal control over sustainability programs and reporting well as provide objective assurance over various sustainability dimensions.