Skip to main content

Proposed ISSA 5000: The Application of Materiality by the Entity and the Assurance Practitioner

Frequently Asked Question
| Guidance & Support Tools

As part of the IAASB's intensive outreach campaign across the globe, there were requests from a range of stakeholders to provide additional information on materiality matters to better help them navigate the recently proposed International Standard on Sustainability Assurance (ISSA) 5000, General Requirements for Sustainability Assurance Engagements. This comprehensive set of Frequently Asked Questions was developed to respond to these requests.

The compilation addresses a variety of questions, including how the concept of materiality applies to sustainability reporting and assurance; the definition of double materiality; and how an assurance practitioner considers an organization’s “materiality process” during a sustainability assurance engagement, among other questions and answers.

The comment period for proposed ISSA 5000 is open until December 1, 2023. To promote broad and diverse participation in the ongoing public consultation, the IAASB has developed a Stakeholder Survey, which may be especially useful for stakeholders wishing to share less technical or overall feedback, and a Response Template.

For further details and updates, visit the IAASB website:

Copyright © 2024 The International Federation of Accountants (IFAC). All rights reserved.