Supplying ESG Assurance in an Emerging Market: A Theory of Planned Behavior Study

Abstract

As the global focus shifts toward sustainability, the demand for credible Environmental, Social and Governance (ESG) information has accelerated. In emerging economies like Vietnam, following the national commitment to Net Zero by 2050, the role of independent assurance has become critical for ensuring financial transparency and investor confidence. While existing literature heavily explores the demand for ESG disclosures, research on the "supply side"- specifically the factors driving audit firms to provide these specialized services-remains remarkably scarce. This study addresses this gap by applying the Theory of Planned Behavior (TPB) to investigate the psychological and organizational determinants influencing the willingness of audit professionals to offer ESG assurance services. A quantitative research design was employed, utilizing a structured survey to collect data from 235 audit professionals across various firms in Vietnam. The conceptual model was tested using Structural Equation Modeling (SEM) to evaluate the relationships between the TPB constructs. The empirical findings confirm that a positive Attitude, strong Subjective Norms and high Perceived Behavioral Control all significantly and positively increase an auditor's intention to supply ESG assurance. Notably, Subjective Norms-perceived pressure from clients, industry competitors and regulatory bodies-emerged as the most influential driver in the Vietnamese context. Furthermore, the results indicate that behavioral intention is a robust predictor of the actual provision of these services. This research offers critical insights for audit firms in building internal capacity and for policymakers seeking to cultivate a reliable sustainable finance ecosystem in emerging markets.