On 3 April 2025, Commissioner for Financial Services and the Savings and Investments Union, Maria Luís Albuquerque, addressed the EFRAG Sustainability Reporting Board (SRB), outlining the European Commission’s expectations for the revision of the European Sustainability Reporting Standards (ESRS).
In her letter, the Commissioner officially mandated EFRAG to revise the ESRS in line with the simplification objectives laid out in the draft Omnibus Directive. The aim is to reduce reporting burdens—particularly for SMEs—while preserving the quality and usefulness of sustainability disclosures.
EFRAG has been asked to:
- Follow the simplification priorities from the Omnibus recitals;
- Deliver its technical advice by 31 October 2025 (subject to possible adjustment depending on the Omnibus finalisation);
- Engage with first-year reporters to identify the most critical datapoints;
- Propose an innovative due process that balances speed with stakeholder input.
The ECIIA continues to follow developments closely, as internal auditors are instrumental in supporting organisations’ sustainability reporting and assurance processes.
Update – Public Call for Input on ESRS Set 1
EFRAG has launched a public consultation to collect feedback on the simplification and revision of ESRS Set 1. This initiative follows the European Commission’s mandate and aims to ensure clearer and more usable sustainability reporting standards. Internal auditors are encouraged to share their views, especially based on their experience with Wave 1. You can also send us your comments to the info@eciia.eu
📝 Submit your feedback here – deadline is 6 May 2025.
ECIIA’s Response to the Consultation
ECIIA has submitted its reaction to EFRAG’s consultation, highlighting the importance of aligning ESRS revision with effective governance and audit practices. Our key messages include:
- Strong governance is essential to support ESRS. Governing bodies need the right tools, internal assurance, and competencies to oversee sustainability reporting. Clear responsibilities, quality management of stakeholder relationships, and an independent internal assurance chain are key elements of this model.
- Data quality challenges remain. ECIIA suggests a gradual integration approach to improve data reliability and reduce the burden on reporting entities.
- Implementation takes time. Both organisations and external auditors need space to build adequate policies and standards. Therefore, we recommend that the assurance report is not required immediately and that clear assurance guidelines are defined in advance.
ECIIA remains committed to supporting high-quality, practical, and sustainable reporting practices in Europe.