Assurance of Food Loss and Waste Disclosure. Adoption of a Risk-based Approach to Evaluate the Materiality and Quality of Information
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Otros documentos de la autoría: Álvarez-Albert, Luís; Ferrero-Ferrero, Idoya; Rivera-Lirio, Juana M.
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comunitat-uji-handle2:10234/8648
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Título
Assurance of Food Loss and Waste Disclosure. Adoption of a Risk-based Approach to Evaluate the Materiality and Quality of InformationFecha de publicación
2023Editor
Hellenic Mediterranean University, School of Agriculture, Department of Agriculture.ISBN
978-618-84774-7-6Tipo de documento
info:eu-repo/semantics/conferenceObjectVersión de la editorial
https://retaste.gr/Versión
info:eu-repo/semantics/publishedVersionPalabras clave / Materias
Resumen
Sustainability Reports (SR) are essential to encourage transparency by showing in a
balanced manner, information regarding environmental and social performance of
organizations. This is essential to all stakeholder ... [+]
Sustainability Reports (SR) are essential to encourage transparency by showing in a
balanced manner, information regarding environmental and social performance of
organizations. This is essential to all stakeholder in its decision-making process (García-
Sánchez, 2021). Nevertheless, since the content of these reports may be quantitative and
qualitative, as well as prospective and retrospective, this information is complex, sometimes
subjective, and difficult to compare between years and firms (CSRD, 2022). Based on the
signalling theory, the information contained in SR can be used as a signal by the
organization to its stakeholders about the level of sustainability performance, however, the
reliability of this information is in doubt and, an assurance process is an understandable
signal about the reliability and quality of the report (Hummel et al., 2019; Spence, 1973). An
assurance engagement helps to reduce information asymmetries and increase the
transparency and objectivity of the report, thus improving the credibility perceptions of
stakeholders (Junior et al., 2014; Yan et al., 2014). The assurance provider should have basic
requirements as professional judgement, scepticism, independence, ethic, expertise and
skills and training on sustainability, due diligence and auditing issues. However, there are
different standards and levels for an assurance engagement that influences its quality (ISAE
3000, AA1000AS, ISO26000, SA8000, among others). Most current engagements are
performed in a limited level (IFAC, 2022), where the risk of expressing an inappropriate
conclusion is higher than a reasonable engagement. For this reason, the quality of assurance
processes and its outcomes is questioned due to the lack of generally accepted regulation
and methods. In parallel, since organizations need to address and manage sustainability
risks, this information must be subject to a high-quality assurance process due to its
complexity and relevance. As Maroun (2020) stated, “the current assurance model is narrow
in audit risk model (…)”. For this purpose, adopting a risk-based approach making use of
available science-based assessment tools is crucial to enhance assurance quality. In this
study, we focus on the Food Loss and Waste (FLW) information from the agri-food system
due to its high social and environmental impacts. According to Eurostat (2022), it is
estimated that around 10 percent of food in the EU available to consumers may be wasted
whereas, 32.6 million people cannot afford a quality meal every second day (Eurostat, 2021).
For this purpose, stakeholders are demanding increasingly information regarding accurate
data of FLW, circular economy strategies and actions to prevent it and reduce it, and its
impacts in the food supply chain. In this sense, SR need to include this material information
and the assurance process must verify if this information is not materially misstated or
omitted, and if proportionated, evaluate the quality of this information. Having this into consideration, the objective of this study is to examine how FLW information is treated in the
Assurance of SR from agri-food organizations, and study whereas the materiality and quality
of this information is evaluated adopting a risk-based approach to enhance quality reporting. [-]
Descripción
Ponència presentada a: RETASTE: Rethink Food Resources, Losses, and Waste. 3rd International Conference, Athens, September 27-29, 2023.
Publicado en
RETASTE Conference Abstracts, Vol. 3, RETASTE-PLW-433-Oral Athens, September 27-29, 2023Entidad financiadora
Generalitat Valenciana
Código del proyecto o subvención
CIAICO/2021/090 | 101059849 HORIZON EUROPE (CEE)
Título del proyecto o subvención
'TONOWASTETowards a new zero food waste mindset based on holistic assessment'
Derechos de acceso
info:eu-repo/semantics/openAccess