Regulators are moving to make non-financial business compliance as important as financial reporting, a leading ESG expert has said.
Speaking recently at the Resort and Residential Hospitality Forum in Portugal, Ufi Ibrahim, CEO at the Energy & Environment Alliance, warned that change was coming.
“In fact, this current period has been likened to the period just after the Wall Street crash, when they created the rules that govern business, with the accounting processes we have now,” she said. “The regulators have created rules that will come into force from 1 January 2024, and will need to be reflected in company reporting from 1 January 2025, which will mean that companies will have to report non-financial information, which will need to be audited just like financial accounts.”
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