CCRcorp Sites  

The CCRcorp Network unlocks access to a world of insights, research, guides and information in a range of specialty areas.

Our Sites


A basis for research and practical guidance focusing on federal securities laws, compliance & corporate governance.


An educational service that provides practical guidance on legal issues involving public and private mergers & acquisitions, joint ventures, private equity – and much more.


The “one stop” resource for information about responsible executive compensation practices & disclosure.

Widely recognized as the premier online research platform providing practical guidance on issues involving Section 16 of the Securities Exchange Act of 1934 and all of its related rules.


Keeping you in-the-know on environmental, social and governance developments

Seemingly, the AI train is unstoppable – although that was also the general sense about the metaverse only a couple years ago and today that is a faded memory. Results of a new survey from KPMG on predictions about AI uptake in U.S. business probably won’t surprise many people. Although the report focuses on financial reporting, it holds valuable insights in the ESG, sustainability and climate contexts as well. A couple relevant statistics from the report:

  • Survey finds the top five benefits of AI in financial reporting are real-time insights into risks, fraud, and control weaknesses (70%); lower costs (58%), ability to predict trends and impacts (57%), increased data accuracy and reliability (57%), and better data-enabled decisions (53%).
  • In 2023, 61% of financial reporting leaders said that it was important for auditors to utilize AI in performing their analyses; today that number is 83%. Businesses expect their auditors to conduct a more detailed review of the control environment (66%) and assess their AI governance maturity (61%).

Both of those points are directly relevant to ESG, sustainability and climate as well, but caution is warranted: ESG and sustainability are notoriously ambiguous – defining appropriate algorithm parameters and finding relevant/credible teaching data for identifying fraud and control weaknesses will be a major challenge. Without a valid ESG foundation, AI results will be suspect at the least and erroneous/misleading at worst. I can’t shake this nagging concern about an AI fox watching over the AI henhouse – especially in fraud detection.

KPMG highlights the continuing importance of auditors in using AI …

“Auditors need to help guide and shape the financial reporting transformation, including through the development of AI-enabled auditing platforms that integrate with companies’ systems and help bring the power of AI into the reporting ecosystem — analyzing entire datasets, identifying outliers or risks, and joining up financial and non-financial reporting to create a seamless, coherent reporting landscape.”

… while also paying attention to other guardrails and unintended consequences:

“[T]he evidence suggests that companies are not giving other important attributes enough attention. For example, the sustainability of AI application (its impact on carbon footprint) is a very important attribute for 31 percent of companies, but also a blind spot for 29 percent.”

Increasingly, as ESG/sustainability is integrated into “the business” – including reporting – practitioners would do well to closely track (and align their practices with) developments, risks and trends in financial management and reporting. Of course, there will be more about AI: I’ll be back (I just had to…)

If you aren’t already subscribed to our complimentary ESG blog, sign up here: for daily updates delivered right to you.

Back to all blogs

The Editor

Lawrence Heim has been practicing in the field of ESG management for almost 40 years. He began his career as a legal assistant in the Environmental Practice of Vinson & Elkins working for a partner who is nationally recognized and an adjunct professor of environmental law at the University of Texas Law School. He moved into technical environmental consulting with ENSR Consulting & Engineering at the height of environmental regulatory development, working across a range of disciplines. He was one… View Profile