To oversee the elaboration of the financial statements, the independent auditors and the internal audit in 2022 demands not only expertise to identify, manage and mitigate usual risks, but also environmental and climate risks.
Audit Committees play a crucial role in supporting the Board of Directors to upgrade companies’ understanding, management and mitigation of E + S risks.
Considering the growing number of allegations about greenwashing and the cross-check of data that becomes more and more usual, oversight of E + S claims – be it on the sustainability report, on data disclosed in the webpage or in integrated businesses statements – is undoubtedly a new role of audit committees.
Thanks to Maria Elena Cardoso Figueira and Guy Almeida Andrade for inviting me to once more discuss environmental and climate risks with the new group of executives attending the audit committee’s classes at IBGC – Instituto Brasileiro de Governança Corporativa.