In Bilbao, Azpiazu stressed how important environmental, social and good governance commitments are for the future of companies
At the closing ceremony of the 25th National Auditing Congress, Azpiazu stressed how the true image of a company or institution should not be limited to financial information but should also reflect the risks and opportunities in social, environmental, and governance matters. All of these aspects will enable us to know the real state of the company or institution and its future prospects.
In his opinion, sustainability is of growing importance for the future of companies, not only in financial terms, but also “in terms of reputation in relation to their environmental, social and good governance commitment,” he stressed at the close of this Congress, which has been held since Wednesday at the Euskalduna Conference Centre.
He stressed that “corporate policies related to employee working conditions, gender equality, the elimination of the pay gap and respect for human rights are becoming more and more valued by investors and clients.”
He also took this opportunity to highlight “the important social role that you have as auditors. You are the ones who provide assurance and credibility to the accounts of the private sector and to a large extent to those of the public sector and thus enable our social market economy to function.”
Minister Azpiazu’s speech included a special fact from history books. He recalled how the practice of auditing in Spain began almost a century ago in Bilbao: “Inspired by the rules established in England by the Institute of Chartered Accountants, which had been created in 1880, the Chartered Accountants of Bilbao drew up the statutes of their college, which were approved on 12 January 1927.”