CSRD compliance: A substantial challenge demanding urgent attention. Within this intricate aspect of sustainability management, terms like double materiality and GAP analysis might sound overwhelming. Where does one begin? Our CSRD experts offer consulting and compliance support. We are ready to equip your organization for these new obligations and collaborate in constructing a sustainable future together. Schedule an appointment or get in touch with us.

Important CSRD dates to monitor 

Companies that fall under these categories are obligated to report the following years:  

• For financial year 2024: Companies that are already under the scope of NFRD (large public-interest entities such as listed companies, banks and insurance companies that meet certain requirements)  
• For financial year 2025: large companies that meet two out of the three following criteria: Turnover exceeding €50 million per year, a balance sheet total or more than €25 million, or more than 250 employees (as an annual average)    
• For financial year 2026: Listed small and medium entities  
• For financial year 2028: None-EU companies that meet the consolidated revenue of more than €150 million in the EU 

Sustainability reporting under the legislation of CSRD is closely connected to financial reporting as it integrated sustainability into the broader framework of corporate accountability. All these companies would have to integrate their sustainability report in their annual management report in order to ensure the proper information of the undertaking’s stakeholder.  

Download: CSRD compliance in 12 steps

Why act now  

The aforementioned years signify the deadlines for affected companies to achieve CSRD compliance and/or report in alignment with the ESRS. Consequently, your organization should be well-prepared ahead of the specified effective dates to: 

• Develop a robust sustainability strategy; 
• Establish business systems and processes for reporting;  
• Collect appropriate data for comprehensive reporting 

Hence, delaying the initiation of the CSRD compliance process until the initial reporting year for your organization is highly imprudent. The necessary preparation time should not be underestimated. 

Crowe’s CSRD Roadmap 

• Double Materiality: We analyse the impacts, risks, and opportunities according to there for a double materiality approach. We then define a sustainability strategy that perfectly aligns with your organization according to the material topics of your company. 
• Gap Analysis: Our experts conduct a thorough gap analysis of the CSRD, ESRS, and EU Taxonomy. We clearly define the gaps in terms of data, processes, people and systems and are always available to help you bridge them. 
• Data and IT Systems: In close collaboration, we identify your relevant data points. Together, we determine the IT systems that best meet your specific reporting needs. 
• Governance and Controls: We assist you in establishing internal controls and reporting aligned with your business and reporting strategy. 
• Assurance Readiness: We conduct tests on the functioning of your process and assess the quality of ESG-related data and reports, while assuring the development of a thorough audit trail.  
• Annual Report: With our guidance, you will seamlessly integrate the results of ESG reporting into your annual report.

Crowe and CSRD: How we can assist you 

Crowe Peak’s accountants and advisors are esteemed leaders when it comes to CSRD. They are poised to offer tailored advice, vision, practical assistance, and the following services within the CSRD domain: 

• Baseline assessment for immediate clarity: Crowe Peak’s CSRD/ESRS baseline assessment provides instant clarity regarding your organization’s CSRD status. This foundational assessment encompasses a materiality analysis and a GAP analysis, both crucial in fulfilling your reporting obligations. These analyses meticulously scrutinize your business processes, systems, and documentation to devise a targeted approach towards compliance.  
• Implementation and training: At Crowe Peak, we transcend mere advisory services—we partner with you in implementing CSRD measures and embedding sustainable ESG practices within your organization. Our proficient team is committed to not only preparing compliance documents but also empowering your team through crucial CSRD training.  
• Audit readiness: While CSRD/ESRS audits and assurance might seem things that remain for the future, their mandatory compliance is closer than anticipated. Hence, prepare for a successful review of your CSRD reporting with Crowe Peak’s audit readiness checks. This proactive approach ensures that your report offers assurance to all relevant stakeholders involved.  

Ensuring sustainable compliance 

The broad scope of the CSRD as a comprehensive new regulation lies in its focus not solely on individual organizations but also on requiring information about the material impact, risks, and opportunities for sustainability within the supply chain. Crowe Peak offers expertise to assist your company in mapping, structuring, and categorizing the necessary information. This ensures timely reporting. Apart from leveraging insights and advice drawn from in-depth CSRD knowledge, you can rely on: 

• A customized approach tailored to your organization;  
• A pragmatic timeline that aligns with the CSRD effective date for your company;  
• Proactive risk management strategies; 
• Proficient utilization of innovative technology, monitoring, and dashboarding tools, considering the relevant data points; and  
• A sustainable outlook where compliance is perceived not only as an obligation but also as an opportunity. 

Questions or requests?

At Crowe Peak, our consultants are dedicated to staying abreast of CSRD regulations. We are committed to guiding, assisting, advising, and proactively planning for your organization’s future. Please use the contact form below to inform us of your needs. We aim to respond within one business day to assist you.