ISSA 5000 Frequently Asked Questions: The Application of Materiality

This Frequently Asked Questions (FAQ) document supports implementation of the International Standard on Sustainability Assurance (ISSA) 5000, General Requirements for Sustainability Assurance Engagements. The FAQs focus on the application of materiality in sustainability assurance engagements and are intended to promote consistent understanding and effective application of the concept under ISSA 5000.

The FAQs explain how both reporting entities and assurance practitioners apply materiality in the context of sustainability information, including:

• Understanding the information needs of intended users of sustainability information;
• Addressing qualitative and quantitative disclosures;
• Addressing double materiality considerations, when required; and
• Considering how materiality is applied throughout the engagement to support decision-useful sustainability reporting.

The FAQs also provide explanations and illustrative examples to help stakeholders better understand the application of the concept of materiality under ISSA 5000. The new material brings together other related matters highlighted in other IAASB support materials by providing appropriate links.

This publication complements IAASB’s existing resources and is intended to support practitioners, preparers, regulators, and other stakeholders as they implement, or prepare for the implementation of, ISSA 5000. It does not amend, override, or supersede the requirements of ISSA 5000.