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THE JOURNAL OF ECONOMIC SCIENCES: THEORY AND PRACTICE, V.83, # 1, 2026, pp. 4-19

And secondly, the imminent operational challenges, which involves that even if the level
of assurance were sufficient, companies are not yet permeable. The literature highlights
major gaps in “readiness”, data quality, traceability of data, and internal governance.

Furthermore, after mapping previous ESG-related research using the Vos Viewer, the
research trends were more accurately determined and correlations identified. The
evolution from beginning conceptual determination to strategic implementation of the
objectives, and the connection with digital solutions and innovation, were among the
most relevant networks. Nevertheless, the risk and costs remain relevant enough, while
the performance of firms and the ESG framework performance are still in debate.

Limitations and Future Research
This study has several limitations. First, in the first stage the data selection was based on
Google Scholar search and specific keywords, and may have missed relevant papers such
as in-depth consultancy reports. This was partly solved in the second stage when the data
collection for the Vos Viewer mapping was based on the Clarivate Web of Science.

Furthermore, as CSRD and ISSA 5000 are only at the beginning of their implementation,
the overwhelming majority of the literature reviewed is either theoretical or empirically
studies voluntary insurance. This limitation opens up opportunities for future research.
Now that auditing is becoming mandatory, the horizon of post-implementation empirical
research opens up. Possible future research directions would be related to empirical
analyses determining the fluctuations in the const of capital for European companies,
studies aiming to determine how the firms adapt to data governance and internal
mechanisms, or assessments on how the skepticism modified as a results of the new
disclosure frameworks and greenwashing is further mitigated.

REFERENCES
Ackers, B., & Eccles, N. S. (2015). Mandatory corporate social responsibility assurance:
panacea or next costly failure?. Meditari Accountancy Research, 23(1), 126-146.

Adams, C. A. (2002). Internal and external corporate governance, social responsibility
and environmental accounting. Accounting, Auditing & Accountability Journal,
15(2), 213-240.

Adams, C. A., & Evans, R. (2004). Accountability, pluralism and the power of audit.
În: Social and Environmental Accountability. Routledge.

Ball, A., Owen, D. L., & Gray, R. (2000). External transparency or internal capture?
The role of third-party statements in adding value to corporate environmental reports.
Business Strategy and the Environment, 9(1), 1-23.

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