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11 January, 2023 / In brief

ESG tool for sustainable disclosure launches

By ESG Clarity

For finance departments and sustainability teams who want to take more accountability for their reporting

ESG tool for sustainable disclosure launches

UK tech company Ideagen has launched an ESG tool helping auditing firms to understand the sustainable disclosure requirements they need to comply with.

Ideagen highlighted there are no fewer than seven UK and EU laws, including UK Corporate Governance Code 2018, the Companies Act 2006, the Listing Rules and the Disclosure Guidance and Transparency Rules, auditing firms need to consider, and this tool was launched in response to their customer feedback and concerns around greenwashing.

Using the tool, named the ESG FRS 102 checklist, firms can use filters to work out where they need to be disclosing.

“Ideagen Pentana software has always enabled auditors to tailor based on company size, also whether they’re listed or not-for-profit, which then presents you with a checklist of the regulatory reporting requirements specific to that entity type,” said Ideagen’s senior technical accountant Tina Whitington.

“However, this new development allows an audit firm to separate the non-financial disclosures and provide a bespoke summary of what is required with the specific legislation for reference if needed.”

Ideagen said the FRS 102 checklist has been established for the use of the finance departments and sustainability teams who want to take more accountability for their reporting prior to external auditor involvement.

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