The Development of Worldwide Sustainability Reporting Assurance

Theodore J. Mock · Sunita S. Rao · Rajendra Prasad Srivastava

128 citations0/0 files storedAustralian Accounting Review

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Corporate Social Responsibility Reporting Auditing, Earnings Management, Governance Accounting and Financial Management

Abstract

This research investigates the development of assured sustainability reports (SRs) during this century's first decade. More specifically, it presents basic descriptive data on a sample of 148 SRs published in 2006 and 2007 and contrasts this sample with the sample discussed in Mock et al. 2007. The prior study examined a sample of 130 assured SRs issued between 2002 and 2004. Both samples provide information about the nature of SRs, allowing us to investigate important questions such as which countries and industries are more likely to have an assurance statement, what levels of assurance are provided, and what factors affect the level of assurance provided. In addition to providing descriptive data relative to the above questions, we run logistic regressions where the dependent variable is whether a Big 4 firm provided the assurance for both periods being considered. Some important differences are observed related to whether the assurance provided applies to both the quantitative and qualitative assertions made in the report (significantly negatively associated with the Big 4 in the 2002–2004 period, but not significant in 2006–2007), whether the report uses symbols to identify assured statements (significantly positively associated with the Big 4 in the 2002–2004 period, but not significant in 2006–2007), and whether the procedures used are disclosed (not significant in 2002–2004, but significantly positively associated with the Big 4 in 2006–2007).

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References

2010Voluntary Nonfinancial Disclosure and the Cost of Equity Capital: The Initiation of Corporate Social Responsibility Reporting 2009Assurance on Sustainability Reports: An International Comparison 2010Can Big 4 versus Non-Big 4 Differences in Audit-Quality Proxies Be Attributed to Client Characteristics?2011A Framework for Understanding and Researching Audit Quality 2001Auditors' Perceived Business Risk and Audit Fees: Analysis and Evidence 2005Assurance statement practice in environmental, social and sustainability reporting: a critical evaluation 2008Assurance Services for Sustainability Reports: Standards and Empirical Evidence 2013Global Reporting Initiative (GRI)

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2018A Conceptual Model for Understanding Corporate Social Responsibility Assurance Practice 2018The shaping of sustainability assurance through the competition between accounting and non-accounting providers 2017The market for sustainability assurance services 2020Voluntary assurance of sustainability reporting: evidence from an emerging economy 2017Corporate scandals and the reliability of ESG assessments: evidence from an international sample

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