Extended External Reporting

The global discussion around non-financial information reporting is evolving seemingly every day and organizations are increasingly reporting on their broader performance and impact. While historically voluntary, this type of reporting and assurance is increasingly mandated by law or regulation. Investors and other decision makers need a broader base of information to inform capital allocation and other decisions, including an expectation that reported information is reliable. As reporting evolves, there is a corresponding increase in demand for assurance engagements on such new extended types of reporting.

The IAASB is not a newcomer to assurance of non-financial information. For years, the IAASB has been active in this area as the landscape has continued to evolve. Issued in 2013, International Standard on Assurance Engagements 3000 (Revised), Assurance Engagements Other than Audits or Reviews of Historical Financial Information, applies to extended external reporting (EER) assurance engagements.

New guidance from the IAASB, Non-Authoritative Guidance on Applying ISAE 3000 (Revised) to Extended External Reporting Assurance Engagements, marks a significant step forward in supporting assurance for non-financial reporting and responds to ten key stakeholder-identified challenges commonly encountered in applying ISAE 3000 (Revised) in EER assurance engagements.

 
 

The IAASB expresses its sincere appreciation for the collaboration and funding provided by the World Business Council for Sustainable Development and the Gordon and Betty Moore Foundation.

 

Read IAASB Chair Tom Seidenstein's recent article:

Assurance Standards Keeping Pace on Non-Financial Reporting

 

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