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Financial Auditor And Sustainability Reporting: Does It Matter?, Belen Fernandez-Feijoo, Silvia Romero, Silvia Ruiz
Financial Auditor And Sustainability Reporting: Does It Matter?, Belen Fernandez-Feijoo, Silvia Romero, Silvia Ruiz
Department of Accounting and Finance Faculty Scholarship and Creative Works
The objective of this paper is to investigate the yet-to-develop assurance market, its links with the mature auditing market, and the role that the Big4 auditing firms (KPMG, EY, PwC, and Deloitte) play in the former. We use data submitted to the Global Reporting Initiative by companies in 18 countries, for the years 2011–2013, in order to obtain a global overview that allows generalization of the results. We find higher levels of disclosure and increased credibility of sustainability reports (SRs) when the financial auditor is a Big4. Companies audited by a Big4 are more likely to assure the SR than …
The Assurance Market Of Sustainability Reports: What Do Accounting Firms Do?, Belen Fernandez-Feijoo, Silvia Romero, Silvia Ruiz
The Assurance Market Of Sustainability Reports: What Do Accounting Firms Do?, Belen Fernandez-Feijoo, Silvia Romero, Silvia Ruiz
Department of Accounting and Finance Faculty Scholarship and Creative Works
The assurance of sustainability reports is a relatively new service offered by different providers such as accounting firms and consultants. The percentage of sustainability reports assured and the weight of the four largest accounting firms (Deloitte, EY, KPMG and PWC) in this new market are evolving in time. The purpose of this paper is to contribute to a better understanding of the role each one of the four major accounting firms (Big4) play in this assurance market. Using a generalized linear mixed model in an international sample, our results confirm that each Big4 accounting firm leverages its network of financial …