Sustainability Assurance

The global discussion around sustainability 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 assurance engagements on sustainability reporting.

In April, the IAASB issued Non-Authoritative Guidance on Applying ISAE 3000 (Revised) to Extended External Reporting Assurance Engagements to address ten key stakeholder-identified challenges commonly encountered in applying ISAE 3000 (Revised) in sustainability assurance engagements.

The IAASB is also developing a standard for sustainability reporting assurance, which you can learn more about on the project page.

• New Guidance & Supplements
    Non-Authoritative Guidance on Applying ISAE 3000 (Revised) to Sustainability and Other Extended External Reporting Assurance Engagements
• Additional Support Material
    Non-Authoritative Support Material: Credibility and Trust Model Relating to Sustainability and Other Extended External Reporting Non-Authoritative Support Material: Illustrative Examples of Selected Aspects of Sustainability and Other Extended External Reporting Assurance Engagements Staff Audit Practice Alert: The Consideration of Climate-Related Risks in an Audit of Financial Statement
• Existing Standards
    International Standard on Assurance Engagements (ISAE) 3000 (Revised), Assurance Engagements other than Audits or Reviews of Historical Financial Information International Standard on Assurance Engagements (ISAE) 3410, Assurance Engagements on Greenhouse Gas Statements (see 2018 IAASB handbook, volume II, p. 265-349)