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VOL. 11, ISSUE 2 (2026)
Sustainability assurance milestones in ASEAN: Regulatory trajectories, adoption patterns, and performance outcomes (2010–2024)
Authors
Aditya Septiani, Etna Nur Afri Yuyetta, Anis Chariri
Abstract
The past decade has witnessed substantial
growth in sustainability assurance across the Association of Southeast Asian
Nations (ASEAN), driven by progressive regulatory mandates, institutional
investor pressure, and alignment with global frameworks including the Global
Reporting Initiative (GRI) and the Task Force on Climaterelated Financial
Disclosures (TCFD). This paper provides a systematic documentary analysis of
sustainability assurance milestones across six ASEAN member states Singapore,
Malaysia, Indonesia, Thailand, the Philippines, and Vietnam covering the period
2010 to 2024. Drawing on regulatory documents, stock exchange guidelines, and
secondary empirical data from sustainability surveys, we map the chronological
evolution of mandatory reporting and assurance frameworks, assess adoption
trends, and evaluate key performance indicators. Our findings reveal that
Singapore and Malaysia lead the region in sustainability reporting adoption
(approximately 79% and 75% of listed companies, respectively, as of 2022),
while external assurance coverage remains considerably lower, averaging
approximately 29% of reporting companies across ASEAN6. The dominance of
limited assurance engagements and concentration of provision among Big 4
accounting firms present significant governance and capacity challenges. Policy
implications for regional harmonisation under the ASEAN Taxonomy for
Sustainable Finance are discussed.
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Pages:97-101
How to cite this article:
Aditya Septiani, Etna Nur Afri Yuyetta, Anis Chariri "Sustainability assurance milestones in ASEAN: Regulatory trajectories, adoption patterns, and performance outcomes (2010–2024)". International Journal of Advanced Scientific Research, Vol 11, Issue 2, 2026, Pages 97-101
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