IAASB Launches Public Consultation on Landmark Proposed Global Sustainability Assurance Standard

The International Auditing and Assurance Standards Board (IAASB) recently issued its proposed International Standard on Sustainability Assurance (ISSA) 5000, General Requirements for Sustainability Assurance Engagements, available on:

https://www.iaasb.org/focus-areas/understanding-international-standard-sustainability-assurance-5000?utm_source=Main+List+New&utm_campaign=83ff31fb2b-IAASB-ISSA-5000-release-8.2.23&utm_medium=email&utm_term=0_-83ff31fb2b-%5BLIST_EMAIL_ID%5D

With its focus on assurance on sustainability reporting, ISSA 5000, when approved, will be the most comprehensive sustainability assurance standard available to all assurance practitioners across the globe.

‘Our proposed ISSA 5000 is a crucial step in enhancing confidence and trust in sustainability reporting. This proposal directly responds to the International Organisation of Securities Commissions recommendations and complements the work of other standard setters, including the International Ethics Standards Board for Accountants,’ notes IAASB Chair Tom Seidenstein.

ISSA 5000 is a principles-based, overarching standard suitable for both limited and reasonable assurance engagements on sustainability information reported across any sustainability topic.

ISSA 5000 will be available in French, Japanese, Portuguese and Spanish. Comments on the proposed revisions may be made via the IAASB website on the above link, by 1 December 2023.