Navigating Uncertainty in Sustainability Assurance: Challenges of the Corporate Sustainability Reporting Directive in Romania and Austria
Navigating Uncertainty in Sustainability Assurance: Challenges of the Corporate Sustainability Reporting Directive in Romania and Austria

Summary/Abstract: The implementation of the Corporate Sustainability Reporting Directive (CSRD), which requires assurance on sustainability reports for numerous companies, has reached different implementation stages throughout the EU. This study investigated the key uncertainties and challenges arising from the new assurance obligations, focusing on auditors in Romania and Austria. We explored auditors' perceptions of legal uncertainties, the integration of financial and sustainability reporting, and the need for additional resources and competencies, bymeans of a questionnaire-based survey. The results indicated that auditors that had already provided sustainability assurance were better informed about CSRD implementation, withsignificant differences in their perception of specific matters. Country-specific variations were identified, to a small extent. Legal uncertainties and the need for technical expertise were highlighted as major challenges. The study provides valuable insights into the currentstate of sustainability assurance in the context of the CSRD, and contributes to the literatureby including perspectives from both Big4 and Non-Big4 audit firms.

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