Understanding International Standard on Sustainability Assurance 5000

IAASB Approves ISSA 5000

Formal Publication Expected in December, Range of Guidance & Application Materials Planned for January 2025

The IAASB approved International Standard on Sustainability Assurance 5000 on September 20, 2024. With this milestone, we will now finalize the text of the standard for certification by the Public Interest Oversight Board.

We have shared final language of the standard in updated agenda papers from the September meeting and expect to formally publish by the end of the year. In January 2025, we’ll publish a range of guidance and application materials.

The agenda papers with the final text include:

Agenda Item 2-B.1 APPROVED Sustainability Assurance – Proposed ISSA 5000 – 🔹 Agenda Item 2-B.1 APPROVED Sustainability Assurance – Proposed ISSA 5000 – Requirements (marked from Amended Agenda Item 2-B.1)
Agenda Item 2-B.2 APPROVED Sustainability Assurance – Proposed ISSA 5000 – Application Material (Clean)
Agenda Item 2-B.2 APPROVED Sustainability Assurance – Proposed ISSA 5000 – Application Material (marked from Amended Agenda Item 2-B.2)
Agenda Item 2-D.1 APPROVED Sustainability Assurance – C and C Amendments (Clean)

While paragraphs will be renumbered prior to final certification by the PIOB, these papers represent the final text.

Proposed ISSA 5000 Exposure Draft

The materials below detail the proposed ISSA 5000, issued for public consultation in August 2023.

The Proposed Standard
Proposed ISSA 5000 can be applied to:
- Information about all sustainability topics and aspects of topics
- Information prepared in accordance with any sustainability reporting framework, standard or other suitable criteria
- All sustainability information regardless of the mechanism for reporting the information
- Limited and reasonable assurance engagements
It can also be used by all assurance practitioners, as long as they comply with relevant ethical requirements and apply a system of quality management that are at least as rigorous as the International Code of Ethics for Professional Accountants (including International Independence Standards), published by the International Ethics Standards Board for Accountants, and the IAASB’s suite of quality management standards.

Proposed ISSA 5000 is also a principles-based standard, focused on principles or outcomes rather than procedures or steps. This allows the assurance practitioner to apply their professional judgment in planning and performing the assurance engagement. This approach supports the scalability and comprehensiveness of the standard by limiting possible exceptions from the principles that apply and demonstrating how a requirement applies to all entities regardless of, for example, the type of entity, industry, or sector, and whether their nature and circumstances are less complex or more complex.
Exposure Draft & Exploratory Memorandum

Exposure Draft Explanatory Memorandum French translation of the Exposure Draft Japanese translation of the Exposure Draft French translation of the Exposure Draft Japanese translation of the Exposure Draft Spanish-Latin America translation of the Exposure Draft Spanish-Spain translation of the Exposure Draft
Additional Materials

Proposed ISSA 5000 Frequently Asked Questions Proposed ISSA 5000 FAQ on Materiality Watch the first global webinar here Review the first global webinar slides here Watch the second global webinar here Review the second global webinar slides here
Partner Events and Webinars
In addition to the IAASB's webinars on September 6 and 7, the IAASB has also partnered with several organizations for additional webinars and events.
- Corporate Disclosures webinar with IAASB Chair Tom Seidenstein and IAASB Program and Technical Director Willie Botha: Introducing a new global standard for sustainability assurance
  
  Read a summary article
  
  Watch the recording
  
  Please note, free registration is required to watch the recording.
- IFAC Sustainability Summit–Asia Pacific: A collaborative endeavor with the ASEAN Federation of Accountants, Confederation of Asian and Pacific Accountants, South Asian Federation of Accountants, and Jeju Group.
  
  September 27: Watch the day one recording
  
  September 28: Watch the day two recording
- IFAC & Accountancy Europe In-Person Event: Preparing for High-Quality Sustainability Assurance Engagements
  
  Read more about the event and watch video recordings
Outreach

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See the 200+ organizations that participated in our roundtables.
Select Media Coverage

FT Moral Money, "A new push to stamp out greenwashing” (paywall) Reuters, “Standards body proposes rules for auditing company climate disclosures” Bloomberg News, “Corporate ESG Claims to Soon Face Audits to Address Greenwashing Fears” Responsible Investor, “Global sustainability assurance standard to be developed ‘in line’ with CSRD”
What You Need to Know (short video)
How to Share Feedback

The public consultation for proposed ISSA 5000 closed on December 1, 2023. The IAASB is currently analyzing feedback in order to finalize the standard. Visit the Sustainability Assurance project page for detailed information.

Response Template for Exposure Draft of ISSA 5000 Stakeholder Survey Stakeholder Survey Questions
The Journey to ISSA 5000

Learn from the IAASB Chair Tom Seidenstein about the journey to a new sustainability assurance standard.

Balancing Urgency and Effectiveness in International Sustainability Assurance Standards The Demand for Assurance Engagements on Sustainability and ESG Reporting Is High. Here is How the IAASB Is Responding. Assurance Standards Keeping Pace on Non-Financial Reporting
Existing Assurance Standards & Guidance

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 2021 IAASB handbook, volume II, p. 164-213) Non-Authoritative Guidance on Applying ISAE 3000 (Revised) to Sustainability and Other Extended External Reporting Assurance Engagements