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Not only private companies but also the state needs sustainable management. The SAO is organising a conference

Bratislava, 19 July 2024 - It is not only the private sector that should be audited for accounting and financial flows. Public institutions should also set up their financing, development, and modernisation so that ESG (Environmental, Social, Governance) sustainability principles are interlinked, i.e., environmental, social aspects, and management. The audit verdict is crucial in obtaining favourable interest rates from banks for companies. While the ESG principles were modelled initially for the private sphere, the same conditions will be set for state institutions and public corporations such as state-owned railway companies or the Slovak Electricity Company. In this context, the Supreme Audit Office (SAO) of the Slovak Republic is organising the first international conference on the introduction of ESG in Bratislava on 4 September 2024.

The discussion will focus on the experiences, traps and challenges that this obligation brings for businesses and organisations. It will be a unique opportunity to get a comprehensive picture of the importance and challenges associated with mandatory sustainability reporting in accordance with the amended Accounting and Statutory Audit Act. Experts from the government as well as from major companies will bring their perspectives on ESG legislative frameworks and practices. For both private and public institutions, the application of ESG principles is important not only to improve their own performance but also to demonstrate leadership in sustainability and social responsibility. 

For national auditors, the topic of sustainability is fundamental and close in content. "That is why, together with the Ministry of Finance (MoF) and the Slovak Chamber of Auditors (SKAU), we want to create a platform for sharing examples of good practice and exchanging information. The principles applied in the ESG framework could also be one of the pillars for clearing financial assistance in the framework of European projects," said Ms Henrieta Crkoňová, the SAO's vice-chair.

More information about the conference will be available soon on the SAO's social media.

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