Auditing Sustainability Reporting-Challenges & solution with reference to Chennai audit

Abstract: Auditing suitability reporting presents significant challenges, including inconsistent documentation, inadequate client profiling, and regulatory non-compliance. These issues compromise the accuracy and reliability of suitability assessments in financial services. Solutions involve enhancing auditor training, leveraging advanced data analytics, and adopting standardized reporting frameworks to ensure transparency and accountability. The integration of AI tools can also streamline data validation and risk assessment. Strengthening internal controls and regulatory oversight is essential for improving audit quality and maintaining investor confidence. This paper explores these challenges and outlines effective strategies for improving the auditing of suitability reports.

Keywords: Auditing,Suitability Reporting, Compliance, Financial Services