Why is Speeki Guardian™ the solution for CSRD, GRI and IFRS assurance?
Your CSRD, GRI or IFRS sustainability statement / report took a lot of work to prepare.
Speeki Guardian™ makes sure it's accurate, complete and free from all material errors according to set standards.
Gaining assurance with Speeki Guardian™ is the best way to detect and prevent potential gaps, risks of greenwashing, and misrepresentation. Our assurance of sustainability reports is one of the key elements of your sustainability programme.
The EU ESRS standard requires limited assurance for your sustainability statement.
What is CSRD and ESRS reporting system?
In January 2023, the European Union adopted the Corporate Sustainability Reporting Directive (CSRD), which requires EU and non-EU companies with activities in the EU to file annual sustainability reports alongside their financial statements. These reports must be prepared in accordance with the European Sustainability Reporting Standards (ESRS).
What is required?
Together, the CSRD and ESRS require companies to:
Perform materiality assessments on each sustainability topic applying the double materiality principle to work out which information should be reported. (In line with double materiality, companies must report if sustainability information is material from either a financial or an impact perspective, taking account of people and the environment.)
Report on the material impacts, risks and opportunities (IROs) identified in the company’s own operations, those of its group and those of its upstream and downstream value chain.
Provide metrics and targets for material sustainability topics and connect these to their financial reports.
Have their sustainability disclosures audited by an independent third-party auditor before they are filed with the relevant authority.
GRI, IFRS S1 and S2, TCFD, TNFD, just to name a few.
Are all these standards requiring assurance?
Assurance or conformity with a standard will largely depend on the standard's requirements and your own approach to transparency. Companies are increasingly adopting assurance as more complex reporting systems are introduced.
Will I need to have multiple reports assured?
This will depend on the situation, but the short and most likely answer is: yes. There is a growing need for assurance solutions in the non-financial space, and we will likely see these develop further in the years to come.
Assurance with Speeki Guardian™ is your answer to confirm accuracy and trust in your sustainability reporting.
Build trust with your stakeholders
Establish your credibility in the market with investors and gain a competitive advantage with customers or other stakeholders. Assurance of your sustainability statements provides trust.
Prove credible disclosures through assurance
Demonstrate that your sustainability reporting system has been independently assured and that you meet the regulatory requirements of assurance.
Avoid litigation and fines and reputational damage
Extend good reporting practices by having your report assured by an expert. This reduces the risk of greenwashing allegations and potential fines from regulators and shareholders.
Increase your competitive advantage
Differentiate your organisation and align it with global best practices. Meet your legal requirements regarding assurance and use the Speeki Guardian™ project as a key selling point when showcasing your ESG and Sustainability efforts.
Where to start sustainability report assurance with CSRD, IFRS, GRI, or other standards?
Select your assurance partner early in your reporting cycle. Like any provider, Speeki will need time to study and get up to speed on your reporting system as well your overall ESG and sustainability infrastructure.
Work with your assurance firm as your partner, not just as supplier of an assurance letter on your reporting.
Reach out to Speeki and have a dialogue now about Speeki Guardian™.
Start preparing now for Speeki Guardian™ assurance.
Make sure you are ready for Speeki Guardian™ to obtain assurance efficiently. To help your organisation prepare, we have created a quick guide to help you prepare and address any systemic problems that might be present.
A comprehensive ESG and sustainability reporting system is in place that covers all key and material areas according to standards (e.g CSRD)
You have completed a gap analysis to ensure that your sustainability reporting system meets the standards or frameworks you are following
You have the people ready to support the assurance project including project managers, content experts and technology
You have well-documented sustainability reporting systems that are easily reviewable, preferably in an online system for your assurance provider
Management, leadership, and the Board are engaged and have a commitment to assurance of your sustainability report
You have a clear timeline for the assurance project and are clear about the mapping to other reporting including financial reporting
Your board or audit committee is engaged and ready to exercise oversight over the assurance provider
You have budgets and systems in place to facilitate the assurance engagement
Our assurance process is well controlled, project managed and covers a three-year cycle.
Every Speeki Guardian™ assurance project begins with a substantial review of your sustainability reporting system. We need to scope out your reporting system and determine how to conduct our assurance of your reporting.
The scope of a Speeki Guardian™ project will depend on your company, your materiality assessment, the number of your disclosures and the depth and coverage of your sustainability programme.
If your business is ready to start the Speeki Guardian™ assurance process, we will devise an assurance plan together. Once agreed, we will kick off the formal Speeki Guardian™ project.
FAQs
What does the assurance process cover?
• Assesses an organization's sustainability reporting system according to the standards that you are following, including ESRS, CSRD, IFRS S1 and S2, GRI, TCFD or TNFD to name a few.
• We cover the specific areas of the reporting standard against which we are reportingWhat do I get from your assurance?
You will receive our opinion letter that forms part of your sustainability report.
You will also receive a detailed report with findings identifying non-conformities, observations, opportunities for improvement, best practices, and more.Is this every year?
Yes. While your sustainability report is assured annually, our project runs throughout the year so as to not place assurance of your sustainability report on the critical path of your corporate reporting any more than it needs to.
