EU Works on Its Own ESG Audit Rules as Global Standard Published

The EU has a new set of standards to consider as it writes its own rules for auditing, or assuring companies’ sustainability reports, after global audit regulators proposed new rules Wednesday.

It isn’t clear whether Europe will base its own rules on the draft offered Wednesday by the International Auditing and Assurance Standards Board, or go its own way as it has done with rules for reporting sustainability—the environmental, social, and governance issues companies must submit details on starting next year.

IAASB Chair Tom Seidenstein said the IAASB’s proposal, due to be finalized next year, will be in use ...