Draft law expected soon / Profession distinguished by strict independence rules and established supervisory system – Sustainability reporting will be one of the key challenges for German business in the coming years. The draft legislation to implement the European Corporate Sustainability Reporting Directive (CSRD) in Germany is expected shortly.
Andreas Dörschell, President of the German Chamber of Public Accountants (WPK), believes the profession is well positioned: "There is a lot to come for German companies. The auditing of their sustainability reports is in good hands with auditors. Because of the close links between financial and sustainability reporting, the auditor of the financial statements should also be the sustainability report auditor. This applies not only to the big players in our industry, about whom the public often speaks. Medium-sized and small practices are also available. The integrated audit does not lead to higher costs compared to an isolated audit. On the contrary, it avoids duplication of work and bureaucracy. This is enormously important, especially in difficult times for the economy.