Academic Journal Articles:

Free, Jones, and Tremblay (2024) in “Greenwashing and sustainability assurance: a review
and call for future research”. This article offers a thorough examination of recent accounting
research on sustainability assurance and greenwashing. It highlights the importance of
thorough research in sustainability assurance and identifies important topics for further
investigation, including the effects of regulations and career obstacles. To effectively address
misleading practices, the article highlights the growing concern among numerous
stakeholders regarding greenwashing and the necessity for more rigorous research and
standards in sustainability assurance. It covers important topics such as capital market
reactions to greenwashing, professional scheming in the sustainability reporting assurance
sector, and regulatory obstacles.

Lyon, T.P. and Maxwell, J.W. (2011) in “Greenwash: Corporate environmental disclosure
under threat of audit”. This document proposes an economic model of greenwashing and how
it affects corporate environmental disclosure. It provides an understanding of the tactics used
by businesses to disclose environmental information while facing audit scrutiny. The
economics of "greenwashing," a practice in which companies purposefully reveal favorable
environmental facts while hiding unfavorable ones, is discussed in the article. It talks about
how audit threats and activist pressure affect how companies disclose, which clarifies the
difficulties in identifying and stopping "greenwashing" in sustainability reporting.

These articles contribute to the issue on the ED-5000's effectiveness in combating fraud and
greenwashing, calling for more focused approaches to sustainability reporting. Their findings
can help to inform recommendations for improving ED-5000's effectiveness.