Statement:
Connectivity of Financial and Sustainability Reporting

On 22 June 2026, the WPK issued a statement on the European Financial Reporting Advisory Group’s (EFRAG) discussion paper regarding the connectivity of financial and sustainability reporting.

The WPK is convinced that the project appears premature at this time, primarily because companies are currently occupied with implementing the requirements of the CSRD and the CSRD Implementation Act, and sustainability reporting in accordance with the ESRS is still in its early stages.

Audits constitute separate Engagements

With regard to the increased use of cross-references discussed in the discussion paper, the WPK points out in its comment that the audits of financial and sustainability reporting constitute separate engagements that require separate audit opinions with different levels of audit assurance and thus a clear distinction between them.

At the same time, the increasing interconnection of reporting suggests that financial and sustainability reports should be audited by a single auditor, as the auditor is familiar with the existing professional standards (primarily ISA and ISSA). Therefore, the WPK recommends that EFRAG support the adoption of ISSA 5000 as the standard for the statutory audit of sustainability reports in the European Union.