This chapter is aimed to discuss the role of auditors in the contemporary Era to assist the development of sustainable financial reporting. In a period affected by the consequences of the Global Financial Crisis, the survival of companies and their sustainable growth are primary goals. To this end, this chapter starts from the definition of Going Concern (GC) Assumption under academic and regulatory perspectives, to move on auditors’ assessment standards on this principle. Further, the focus is on the consequences for several categories of stakeholders when auditors issue a Going Concern Opinion (GCO). Following evidence from previous research on consequences of GCOs and the auditors’ role and function in financial reporting environment, there is the necessity to increase the assurance of sustainable reporting. The social audit pursues this effort but fails in practice due to the lack of detailed regulation on it. Therefore, there is the need to develop a specific framework on social audit and even more, on sustainability reporting.
CITATION STYLE
Carlino, C. (2020). The Role of Auditors to Improve Sustainability in Financial Reporting. In Accounting, Finance, Sustainability, Governance and Fraud (pp. 111–129). Springer Nature. https://doi.org/10.1007/978-3-030-31193-3_6
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