Global advisory, accounting and consulting firm Withum has rolled out a new outsourcing service offering as part of its Sustainability and ESG Practice. Designed to help companies comply with the European Corporate Sustainability Reporting Directive (CSRD), the mandate requires reporting of detailed sustainability performance as it pertains to the European Sustainability Reporting Standards (ESRS), effective January 2023.
According to the professionals in Withum’s Sustainability and ESG Practice, approximately 50,000 companies worldwide are required to report detailed sustainability performance in compliance with ESRS.
“Our new service offering is designed with the right mix of people and technology to help companies navigate the complexities of the CSRD, with minimal disruptions to their organization,” said Joe Holman, principal and practice leader for Sustainability and ESG at Withum. “We aim to reach as many U.S. public companies as possible to help them understand and meet these new reporting requirements.”
The CSRD is being phased in starting in 2024, with the first reports due in 2025. It applies to large companies and listed small and medium-sized enterprises (SMEs) within the European Union (EU), as well as non-EU companies generating over EUR 150 million in the EU market. Notably, over 10,000 U.S. companies may be unaware that they fall under the CSRD’s requirements.
Withum’s new service offers the following features: preparation addressing boundaries, materiality assessment and GAP analysis; readiness covered controls testing, documentation and recommendations; data collection encompassing questionnaires, emissions and aggregation and reporting preparation, audit support and ad-hoc reports
Headquartered in Princeton, New Jersey, Withum is a national public accounting firm providing advisory, tax and audit services to businesses and individuals on a local-to-global scale. Withum is an independent member of HLB, the global advisory and accounting network.
Withum Principal Joe Holman, practice leader for Sustainability and ESG Practice (Photo courtesy of Withum)
