ESG Materiality and Key Audit Matters: an analysis on FTSE MIB companies

The thesis examines the relationship between the financial materiality of ESG factors identified for Non-Financial Disclosures (NFDs) and Key Audit Matters (KAMs) provided in audit reports. We considered the 2019-2023 financial statements and NFDs of companies belonging to the FTSE MIB index, performing a content analysis. Subsequently, we conducted a regression analysis using the ESG Financial Materiality Scores provided by Bloomberg. The objective is to verify whether higher ESG materiality scores are associated with greater attention by auditors in including ESG issues in KAMs. The purpose of this study is to explore the connection between the financial materiality of ESG factors and their impact on traditional audit processes, contributing to the discussion about the convergence of financial auditing and corporate sustainability.