A letter highlights the potential legislative breaches that could occur via the ‘omnibus’ process of revising the CSRD and CSDDD.

The rules will cover companies with 1,000+ staff and €450m revenue, while the due diligence law will apply to even fewer organisations.

Significant scope reductions for the rules are on the cards, undermining the original intention of regulatory simplification, say observers.

The absence of meaningful audit and corporate governance reform is undermining the UK’s economic growth potential.

The legislation is a ‘source of uncertainty’ and should be put on hold, according to the former European Central Bank president.

A letter signed by 475 companies and investors sets out measures to achieve ‘the EU’s economic and sustainability goals’.

Promised reforms are ‘essential’, says a signed letter co-ordinated by the Chartered Institute of Internal Auditors.

After the business minister delayed the governance reform bill, Lord Sikka pointed to a ‘steady parade of audit failures’.

A growing number of audits from the top firms require only limited improvement, according to the Financial Reporting Council.

Now is the time for Europe to speed up green transition, rather than slow it down through inconsistency and diluting the law.