THE ROLE OF AUDIT IN SUSTAINABLE DEVELOPMENT STRATEGY

Abstract

Sustainable development strategies aim to balance economic growth, social inclusion, and environmental protection to meet present needs while safeguarding the ability of future generations to fulfill their own. Effective implementation of these strategies necessitates transparent governance and strong financial control mechanisms, with auditing emerging as a pivotal tool in managing risks, improving governance, and achieving Sustainable Development Goals (SDGs). Historically, audits have focused primarily on financial processes and reports. However, today’s audits encompass environmental, social, and governance (ESG) factors, providing a more comprehensive evaluation of organizational practices. This research investigates how financial control mechanisms, including internal and external audits, accountability, and transparency, play a critical role in sustainable development initiatives.