ESAP is an EU digital platform centralising access to companies’ public financial and sustainability information. Read more in our new factsheet
Review the recap of our latest CSRD practice forum, organised together with ECG to foster open exchanges on CSRD implementation
Our new factsheet on the European Single Access Point (ESAP): What do auditors need to know? outlines the key implications for the audit and accountancy profession.
ESAP is an EU-wide digital platform designed to centralise access to public financial and sustainability information from companies. The scope will include a broad range of entities such as listed entities, credit institutions, insurers, investment firms, audit firms, but also other entities and SMEs required to disclose information under various EU regulations and directives.
National authorities or EU bodies will act as collection bodies validating submissions before API transfer to ESAP. They perform automated checks to reject non-compliant filings and assist companies. ESMA will also validates data at the central level.
The platform will go live by 10 July 2027, operated by ESMA. Reporting requirements will be phased in: core financial and sustainability data under the Accounting and CSRD directives becomes accessible from January 2028.
Audit-related transparency reports and sanctions follow from January 2030, with the Corporate Sustainability Due Diligence Directive (CSDDD) annual statements joining ESAP from 1 January 2031.
The response to the IAASB-IESBA joint consultation reflects input gathered from our members across Europe.
We also addressed a separate letter to the Chairs of the IAASB and IESBA, setting out several key observations:
The IAASB and IESBA have established a joint User Advisory Group (UAG) creating a dedicated channel for users of financial statements and other external reporting to directly inform global standard setting.
The UAG is planned to change the how user perspective is brought into the standard-setting process, moving from consultations to more continuous, structured dialogue.
Through the UAG, users will provide timely, practical input on the IAASB’s and IESBA’s priorities, projects, and broader initiatives. The UAG held its inaugural meeting on April 2, 2026, bringing together a globally diverse group of users
IESBA has released a new staff publication, Proportionality of the IESBA Code, which aims to explain how the concept of proportionality is reflected in the International Code of Ethics for Professional Accountants.
The publication outlines how the Code’s principles-based approach and conceptual framework allow for its application across organisations of different sizes, structures, and circumstances, while maintaining consistent ethical requirements. It also provides examples illustrating how professional accountants and firms may apply the Code in a proportionate manner depending on the nature and complexity of their activities.
IAASB has released for public consultation an Exposure Draft proposing revisions to ISRE 2410, Review of Interim Financial Information Performed by the Independent Auditor of the Entity’s Annual Financial Statements. The proposals represent the first comprehensive review of the standard since its issuance in 2005 and aim to reflect developments in the financial reporting and assurance environment over the last two decades.
The proposed revisions seek to clarify the nature and scope of interim review engagements and strengthen consistency in practice. They also include enhanced requirements in areas such as going concern, fraud, and non-compliance with laws and regulations (NOCLAR), as well as improvements to transparency in the auditor’s interim review report. The deadline to respond is 3 September 2026.
IFIAR has published its 2025 annual report, providing an overview of the organisation’s activities, priorities, and engagement with audit regulators and international stakeholders over the past year.
The report outlines IFIAR’s ongoing work in areas including audit inspection findings, systems of quality management, technology and innovation in audits, and developments related to sustainability assurance. It also summarises IFIAR’s interactions with international standard-setters, including the IAASB and IESBA, as well as its dialogue with global audit networks and other stakeholders.
IFIAR has released its 2025 Survey of Inspection Findings, presenting the results of inspections carried out by independent audit regulators across IFIAR member jurisdictions. The survey covers inspections of audit firms affiliated with the six largest global audit networks and includes both firm-wide systems of quality management and individual audit engagements.
According to the report, 35% of inspected listed public interest entity (PIE) audit engagements included at least one inspection finding, compared to 34% in the previous survey. The publication notes that recurring findings continue to be identified in areas such as accounting estimates, internal controls testing, audit evidence, and engagement performance.
IFIAR has released its report Use of Technology in Audits – Observations, Risks and Further Evolution, providing an overview of how technology is being used in audit engagements across jurisdictions and highlighting related regulatory observations.
The report discusses the increasing use of automated tools and techniques, data analytics, artificial intelligence, and generative AI within audit processes. It also outlines potential benefits, including enhanced efficiency and broader data analysis capabilities, alongside challenges and risks linked to governance, reliability of outputs, professional judgement, and data quality.
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