Assurance practices in Colombia’s non-financial sectors: enhancing sustainability report reliability

This research enhances the reliability of sustainability reports in Colombia’s mining–hydrocarbons, construction, and manufacturing sectors. Amid growing demands for corporate transparency, this study evaluates assurance practices and proposes a model for measuring sustainability report reliability....

Full description

Autores:
Hoyos Giraldo, Fanery Andrea
Delgado-Martínez, Edinson
Baeza Muñoz, María de los Ángeles
Tipo de recurso:
Article of investigation
Fecha de publicación:
2024
Institución:
Universidad Autónoma de Occidente
Repositorio:
RED: Repositorio Educativo Digital UAO
Idioma:
eng
OAI Identifier:
oai:red.uao.edu.co:10614/16163
Acceso en línea:
https://hdl.handle.net/10614/16163
https://doi.org/10.3390/su162310371
https://red.uao.edu.co/
Palabra clave:
Sustainability report
Audit
Internal assurance
External assurance
Combined assurance
Informe de sostenibilidad
Auditoría
Garantía interna
Garantía externa
Garantía combinada
Rights
openAccess
License
Derechos reservados - MDPI, 2024
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network_acronym_str REPOUAO2
network_name_str RED: Repositorio Educativo Digital UAO
repository_id_str
dc.title.eng.fl_str_mv Assurance practices in Colombia’s non-financial sectors: enhancing sustainability report reliability
dc.title.alternative.spa.fl_str_mv Prácticas de aseguramiento en los sectores no financieros de Colombia: Mejorando la confiabilidad de los informes de sostenibilidad
title Assurance practices in Colombia’s non-financial sectors: enhancing sustainability report reliability
spellingShingle Assurance practices in Colombia’s non-financial sectors: enhancing sustainability report reliability
Sustainability report
Audit
Internal assurance
External assurance
Combined assurance
Informe de sostenibilidad
Auditoría
Garantía interna
Garantía externa
Garantía combinada
title_short Assurance practices in Colombia’s non-financial sectors: enhancing sustainability report reliability
title_full Assurance practices in Colombia’s non-financial sectors: enhancing sustainability report reliability
title_fullStr Assurance practices in Colombia’s non-financial sectors: enhancing sustainability report reliability
title_full_unstemmed Assurance practices in Colombia’s non-financial sectors: enhancing sustainability report reliability
title_sort Assurance practices in Colombia’s non-financial sectors: enhancing sustainability report reliability
dc.creator.fl_str_mv Hoyos Giraldo, Fanery Andrea
Delgado-Martínez, Edinson
Baeza Muñoz, María de los Ángeles
dc.contributor.author.none.fl_str_mv Hoyos Giraldo, Fanery Andrea
Delgado-Martínez, Edinson
Baeza Muñoz, María de los Ángeles
dc.subject.proposal.eng.fl_str_mv Sustainability report
Audit
Internal assurance
External assurance
Combined assurance
topic Sustainability report
Audit
Internal assurance
External assurance
Combined assurance
Informe de sostenibilidad
Auditoría
Garantía interna
Garantía externa
Garantía combinada
dc.subject.proposal.spa.fl_str_mv Informe de sostenibilidad
Auditoría
Garantía interna
Garantía externa
Garantía combinada
description This research enhances the reliability of sustainability reports in Colombia’s mining–hydrocarbons, construction, and manufacturing sectors. Amid growing demands for corporate transparency, this study evaluates assurance practices and proposes a model for measuring sustainability report reliability. Using bootstrapping regression, this study provides credible coefficient estimates without assuming a normal distribution. Key findings show that SDG application, assurance scope, and auditing firm consistency significantly influence report reliability, affirmed by 95% confidence intervals. This study’s pragmatic approach suggests best-case and worst-case scenarios for policymakers and companies to optimize report reliability. Furthermore, the proposed model paves the way for future research, with the International Standard on Sustainability Assurance (ISSA) 5000 by the International Auditing and Assurance Board (IAASB), potentially acting as a catalyst for mandatory sustainability reporting in Latin America. This proposed standard promises to enhance sustainability assurance practices. This research contributes to academic discourse on sustainability assurance and guides improvements in corporate reporting transparency and accountability. Future research should expand this model to other sectors and regions, validating its applicability and exploring broader temporal scopes to strengthen its empirical foundations
publishDate 2024
dc.date.issued.none.fl_str_mv 2024-11-27
dc.date.accessioned.none.fl_str_mv 2025-06-12T16:44:26Z
dc.date.available.none.fl_str_mv 2025-06-12T16:44:26Z
dc.type.spa.fl_str_mv Artículo de revista
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dc.type.coar.eng.fl_str_mv http://purl.org/coar/resource_type/c_2df8fbb1
dc.type.content.eng.fl_str_mv Text
dc.type.driver.eng.fl_str_mv info:eu-repo/semantics/article
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dc.type.version.eng.fl_str_mv info:eu-repo/semantics/publishedVersion
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dc.identifier.citation.spa.fl_str_mv Hoyos Giraldo, F. A; Delgado-Martínez, E. y Baeza Muñoz; M. A. (2024). Assurance practices in Colombia’s non-financial sectors: enhancing sustainability report reliability. Sustainability 2024, 16(23). https://doi.org/10.3390/su162310371
dc.identifier.uri.none.fl_str_mv https://hdl.handle.net/10614/16163
dc.identifier.doi.spa.fl_str_mv https://doi.org/10.3390/su162310371
dc.identifier.eissn.spa.fl_str_mv 20711050
dc.identifier.instname.spa.fl_str_mv Universidad Autónoma de Occidente
dc.identifier.reponame.spa.fl_str_mv Respositorio Educativo Digital UAO
dc.identifier.repourl.none.fl_str_mv https://red.uao.edu.co/
identifier_str_mv Hoyos Giraldo, F. A; Delgado-Martínez, E. y Baeza Muñoz; M. A. (2024). Assurance practices in Colombia’s non-financial sectors: enhancing sustainability report reliability. Sustainability 2024, 16(23). https://doi.org/10.3390/su162310371
20711050
Universidad Autónoma de Occidente
Respositorio Educativo Digital UAO
url https://hdl.handle.net/10614/16163
https://doi.org/10.3390/su162310371
https://red.uao.edu.co/
dc.language.iso.eng.fl_str_mv eng
language eng
dc.relation.citationendpage.spa.fl_str_mv 24
dc.relation.citationissue.spa.fl_str_mv 23
dc.relation.citationstartpage.spa.fl_str_mv 1
dc.relation.citationvolume.spa.fl_str_mv 16
dc.relation.ispartofjournal.eng.fl_str_mv Sustainability
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6. Richard, G.; Odendaal, E. Integrated Reporting Assurance Practices—A Study of South African Firms. Int. J. Discl. Gov. 2020, 17, 245–266. [CrossRef]
7. Goicoechea, E.; Gómez-Bezares, F.; Ugarte, J.V. Integrated Reporting Assurance: Perceptions of Auditors and Users in Spain. Sustainability 2019, 11, 713. [CrossRef]
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22. IAASB. Handbook of International Quality Control, Auditing, Review, Other Assurance, and Related Services Pronouncements. 2021. Available online: https://www.ifac.org/system/files/publications/files/IAASB-2020-Handbook-Volume-2.pdf (accessed on 17 July 2023).
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spelling Hoyos Giraldo, Fanery Andreavirtual::6081-1Delgado-Martínez, EdinsonBaeza Muñoz, María de los Ángeles2025-06-12T16:44:26Z2025-06-12T16:44:26Z2024-11-27Hoyos Giraldo, F. A; Delgado-Martínez, E. y Baeza Muñoz; M. A. (2024). Assurance practices in Colombia’s non-financial sectors: enhancing sustainability report reliability. Sustainability 2024, 16(23). https://doi.org/10.3390/su162310371https://hdl.handle.net/10614/16163https://doi.org/10.3390/su16231037120711050Universidad Autónoma de OccidenteRespositorio Educativo Digital UAOhttps://red.uao.edu.co/This research enhances the reliability of sustainability reports in Colombia’s mining–hydrocarbons, construction, and manufacturing sectors. Amid growing demands for corporate transparency, this study evaluates assurance practices and proposes a model for measuring sustainability report reliability. Using bootstrapping regression, this study provides credible coefficient estimates without assuming a normal distribution. Key findings show that SDG application, assurance scope, and auditing firm consistency significantly influence report reliability, affirmed by 95% confidence intervals. This study’s pragmatic approach suggests best-case and worst-case scenarios for policymakers and companies to optimize report reliability. Furthermore, the proposed model paves the way for future research, with the International Standard on Sustainability Assurance (ISSA) 5000 by the International Auditing and Assurance Board (IAASB), potentially acting as a catalyst for mandatory sustainability reporting in Latin America. This proposed standard promises to enhance sustainability assurance practices. This research contributes to academic discourse on sustainability assurance and guides improvements in corporate reporting transparency and accountability. Future research should expand this model to other sectors and regions, validating its applicability and exploring broader temporal scopes to strengthen its empirical foundationsEsta investigación mejora la confiabilidad de los informes de sostenibilidad en los sectores minero-hidrocarburos, de la construcción y manufacturero de Colombia. Ante la creciente demanda de transparencia corporativa, este estudio evalúa las prácticas de aseguramiento y propone un modelo para medir la confiabilidad de los informes de sostenibilidad. Mediante regresión bootstrap, este estudio proporciona estimaciones de coeficientes creíbles sin asumir una distribución normal. Los hallazgos clave muestran que la aplicación de los ODS, el alcance del aseguramiento y la consistencia de la firma auditora influyen significativamente en la confiabilidad de los informes, confirmada por intervalos de confianza del 95%. El enfoque pragmático de este estudio sugiere escenarios favorables y desfavorables para que los responsables políticos y las empresas optimicen la confiabilidad de los informes. Además, el modelo propuesto sienta las bases para futuras investigaciones, con la Norma Internacional de Aseguramiento de la Sostenibilidad (ISSA) 5000 del Consejo Internacional de Auditoría y Aseguramiento (IAASB), actuando potencialmente como catalizador para la presentación obligatoria de informes de sostenibilidad en América Latina. Esta norma propuesta promete mejorar las prácticas de aseguramiento de la sostenibilidad. Esta investigación contribuye al debate académico sobre aseguramiento de la sostenibilidad y orienta las mejoras en la transparencia y la rendición de cuentas de los informes corporativos. Las investigaciones futuras deberían ampliar este modelo a otros sectores y regiones, validando su aplicabilidad y explorando alcances temporales más amplios para fortalecer sus fundamentos empíricos24 páginasapplication/pdfengMDPIBasel, SwitzerlandDerechos reservados - MDPI, 2024https://creativecommons.org/licenses/by-nc-nd/4.0/info:eu-repo/semantics/openAccessAtribución-NoComercial-SinDerivadas 4.0 Internacional (CC BY-NC-ND 4.0)http://purl.org/coar/access_right/c_abf2Assurance practices in Colombia’s non-financial sectors: enhancing sustainability report reliabilityPrácticas de aseguramiento en los sectores no financieros de Colombia: Mejorando la confiabilidad de los informes de sostenibilidadArtículo de revistahttp://purl.org/coar/resource_type/c_2df8fbb1Textinfo:eu-repo/semantics/articlehttp://purl.org/redcol/resource_type/ARTinfo:eu-repo/semantics/publishedVersionhttp://purl.org/coar/version/c_970fb48d4fbd8a85Colombia2423116Sustainability1. Kumar, P.; Firoz, M. Does Accounting-Based Financial Performance Value Environmental, Social and Governance (ESG) Disclosures? A Detailed Note on a Corporate Sustainability Perspective. Australas. Bus. Account. Financ. J. 2022, 16, 41–72. [CrossRef]2. de Silva Lokuwaduge, C.S.; Smark, C.; Mir, M. The Surge of Environmental Social and Governance Reporting and Sustainable Development Goals: Some Normative Thoughts. Australas. Bus. Account. Financ. J. 2022, 16, 3–11. [CrossRef]3. Rodriguez de Ramirez, M.d.C. Integrated Information. The Road Traveled Final Report. 2017. Available online: http://bibliotecadigital.econ.uba.ar/download/libros/RodriguezdeRamirez_Informacion-integrada-el-camino-recorridoinforme- final-2018.pdf (accessed on 20 June 2024).4. Institute of Directors Southern Africa. King IV Report on Corporate Governance for South Africa. 2016. Available online: https://cdn.ymaws.com/www.iodsa.co.za/resource/collection/684B68A7-B768-465C-8214-E3A007F15A5A/IoDSA_King_ IV_Report_-_WebVersion.pdf (accessed on 20 June 2024).5. Integrated Reporting Committee (IRC) of South Africa. Preparing an Integrated Report: A Starter’s Guide (Updated). 2018. Available online: https://integratedreportingsa.org/ircsa/wp-content/uploads/2018/08/IRC_Starters_Guide_20180820_126 63_LN.pdf (accessed on 20 June 2024).6. Richard, G.; Odendaal, E. Integrated Reporting Assurance Practices—A Study of South African Firms. Int. J. Discl. Gov. 2020, 17, 245–266. [CrossRef]7. Goicoechea, E.; Gómez-Bezares, F.; Ugarte, J.V. Integrated Reporting Assurance: Perceptions of Auditors and Users in Spain. Sustainability 2019, 11, 713. [CrossRef]8. Channuntapipat, C.; Samsonova-Taddei, A.; Turley, S. Exploring Diversity in Sustainability Assurance Practice. Account. Audit. Account. J. 2019, 32, 556–580. [CrossRef]9. Cabrera Narváez, A. 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