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Corporate Audit Committees Add ESG Oversight to Busy Agendas

Nov. 30, 2022, 9:55 PM

Corporate audit committees are adding sustainability reporting on top of existing cybersecurity duties to their already full agendas overseeing financial accounting and auditing.

Roughly 18% of S&P 500 audit committees, or about 90 companies, told investors they are responsible for overseeing environmental, social and governance reporting. And 39% of corporate boards report having at least one member with ESG expertise, according to a joint review of proxy disclosures by the Center for Audit Quality and Audit Analytics released on Wednesday.

The annual report looked at proxy statements filed between July 2021 and June 2022. This was the ...