Extended External Reporting (EER) Assurance
Extended External Reporting (EER) Assurance is used to describe engagements to provide assurance on different forms of non-financial reporting, including integrated reporting, sustainability reporting and non-financial reporting about environmental, social and governance matters. This video provides an overview of EER Assurance.
The IAASB’s EER Assurance project aims to enable more consistent and appropriate application of International Standard on Assurance Engagements (ISAE) 3000 (Revised), Assurance Engagements other than Audits or Reviews of Historical Financial Information, to EER assurance. The IAASB plans to achieve this through:
• Developing non-authoritative guidance that comprehensively explains and illustrates how to apply ISAE 3000 (Revised) to EER Assurance; and
• Providing thought leadership on assurance issues in relation to EER Assurance.
In undertaking this project, the IAASB plans to closely monitor related initiatives of other relevant international organizations and collaborate with bodies such as the Corporate Reporting Dialogue (CRD), the World Business Council for Sustainable Development (WBCSD) and the Principles of Responsible Investment (PRI).
More information about this project is also available at IAASB Focus Areas
The Board approved the Extended External Reporting (EER) Assurance Non-authoritative Guidance. On publication, the Guidance may be used with immediate effect (i.e., there is no need to observe an 'effective date'). The Guidance responds to ten key stakeholder-identified challenges commonly encountered in applying International Standard on Assurance Engagements 3000 (Revised), Assurance Engagements Other than Audits or Reviews of Historical Financial Information.
The project is being run with the support of the World Business Council for Sustainable Development (WBCSD), which has provided grant funding through a collaboration established by the Gordon and Betty Moore Foundation.
Exploring Assurance on Integrated Reporting and Other Emerging Developments in External Reporting Discussion Paper: Supporting Credibility and Trust in Emerging Forms of External Reporting Supplemental Information to the Discussion Pape Discussion Paper: At a Glance Comments to the Discussion Paper Feedback Statement: Supporting Credibility and Trust in Emerging Forms of External Reporting
At its September 2014 meeting the Innovation WG proposed, and the IAASB agreed to establish a working group to specifically monitor the developing interest in integrated reporting and the demand for assurance on integrated reports. This includes initial thinking on the nature of such engagements, including the scope of the assurance engagement, the suitability of the criteria, and other matters related to assurance on integrated reports.
In August 2016 the Integrated Reporting Working Group has released a Discussion Paper, Supporting Credibility and Trust in Emerging Forms of External Reporting: Ten Key Challenges for Assurance Engagements, which was open for comment till December 2016.
The Working Group developed a Feedback Statement to highlight the responses received on the August 2016 Discussion Paper noted above. This Feedback Statement provides an overview of the key messages from the responses to the questions in the Discussion Paper. The responses have helped inform the IAASB as to what its next steps should be to progress with its project in this area and in October 2017 the IAASB approved a project to develop guidance to help overcome the Ten Key Challenges identified in the Discussion Paper and will require close collaboration with a wide range of stakeholder groups.
Non-Authoritative Guidance on Applying ISAE 3000 (Revised) to Extended External Reporting Assurance Engagements Non-Authoritative Support Material: Credibility and Trust Model Relating to Extended External Reporting (EER) Non-Authoritative Support Material: Illustrative Examples of Selected Aspects of Extended External Reporting (EER) Assurance Engagements