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Statutory Audit And Esg Reporting In Romania: Regulatory Convergence And Implementation Challenges In The Context Of Csrd

Author

Listed:
  • Marioara HRITCAN

    (Stefan cel Mare University of Suceava, 720229, Romania)

  • Constantin C. HRITCAN

    (Alexandru Ioan Cuza University of Iasi, 700506, Romania)

Abstract

Over the last decade, ESG (Environmental, Social, Governance) reporting has evolved from a voluntary initiative to a regulated obligation as a result of increasing legislative and market pressures. The entry into force of Directive (EU) 2022/2464 (CSRD) and the publication of the European Sustainability Reporting Standards (ESRS) have introduced clear requirements for the provision of comprehensive, verifiable and comparable information on the sustainability performance of entities. At national level, the amendments to Law No. 162/2017 by Law No. 137/2025 mark a structural change: the responsibilities of statutory auditors extend beyond the financial sphere to include assurance on non-financial information. This extension involves aligning audit practices with international standards such as ISAE 3000 (Revised), the Global Reporting Initiative (GRI) and the Task Force on Climate-related Financial Disclosures (TCFD). The main challenges include multidisciplinary training for auditors, integrating ESG procedures into audit planning, managing data traceability, and working effectively with internal audit. The article proposes a framework of good practices and a set of performance indicators (KPIs) relevant to ESG auditing, tailored to the particularities of the Romanian market, with a focus on companies listed on the Bucharest Stock Exchange, thus contributing to improving the quality and credibility of sustainability reporting.

Suggested Citation

  • Marioara HRITCAN & Constantin C. HRITCAN, 2025. "Statutory Audit And Esg Reporting In Romania: Regulatory Convergence And Implementation Challenges In The Context Of Csrd," European Journal of Accounting, Finance & Business, "Stefan cel Mare" University of Suceava, Romania - Faculty of Economics and Public Administration, West University of Timisoara, Romania - Faculty of Economics and Business Administration, vol. 13(2), pages 21-29, June.
    • Handle: RePEc:scm:ejafbu:v:13:y:2025:i:2:p:21-29
    DOI: 10.4316/EJAFB.2025.13203
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    References listed on IDEAS

    as
    1. Marioara HRITCAN & Otilia-Maria BORDEIANU & Constantin C. HRITCAN, 2025. "Internal Audit And Esg: Strategic Convergence For Sustainability In Listed Companies In Romania," European Journal of Accounting, Finance & Business, "Stefan cel Mare" University of Suceava, Romania - Faculty of Economics and Public Administration, West University of Timisoara, Romania - Faculty of Economics and Business Administration, vol. 13(1), pages 51-60, February.
    2. Darko DACHEVSKI & Barry ACKERS, 2025. "Sustainability Reporting and Assurance: A New Challenge for the Audit Profession in Europe," The Audit Financiar journal, Chamber of Financial Auditors of Romania, vol. 23(177), pages 116-140, February.
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