Croatian Financial Services Supervisory Agency analysis shows 95% of Zagreb Stock Exchange issuers received unmodified 2025 audit opinions and only one qualified sustainability assurance conclusion

The Croatian Financial Services Supervisory Agency published an analysis of 2025 audited annual reports for issuers listed on the regulated market of the Zagreb Stock Exchange and, for the second consecutive year, an analysis of their sustainability report assurance engagements. The review shows improved outcomes in both areas. Of 73 audited annual reports reviewed, 95% received unmodified auditor’s opinions, up from 91% for 2024. In sustainability reporting, 34 of 35 issuers received limited assurance conclusions without qualifications, while one issuer received a qualified conclusion, compared with five qualified conclusions a year earlier. Across market segments, all six Prime Market issuers and all 24 Official Market issuers received unmodified audit opinions. On the Regular Market, 39 issuers received unmodified opinions, four received modified opinions and three did not publish audited reports. For sustainability reporting, the number of entities subject to mandatory requirements fell to 32 after a regulatory exemption, including 11 issuers supervised by the agency. In total, 35 issuers under the agency’s supervision prepared 2025 sustainability reports, with 11 reporting on a mandatory basis and 24 voluntarily, and all submitted accompanying assurance reports. This was an increase of eight percentage points from 2024, and all 2025 sustainability reports were prepared on a consolidated basis.