The IFAC Small- and Medium-Sized Practices Advisory Group (SMPAG) welcomes the opportunity to provide input to the International Ethics Standards Board for Accountants (IESBA) Strategy and Work Plan 2024-2027 Consultation Paper.

This is the second installment in a three-part publication series to help small- and medium-sized practices implement the International Auditing and Assurance Standards Board’s (IAASB) quality management standards. It provides a step approach to identifying your quality objectives; completing your quality risk assessment process; identifying existing, or creating new, responses to those quality risks; and implementing, documenting, and communicating your system of quality management.

This study, part of the State of Play Series, enhances understanding of current market practice for the assurance of environmental, social, and governance (ESG or sustainability) information, with a focus on who conducts assurance engagements, what standards are used, the scope of disclosure being assured, and how various assurance practitioners apply internationally recognized standards set by the International Auditing and Assurance Standards Board (IAASB).

This comprehensive review of anti-corruption corporate reporting by the largest publicly traded companies worldwide decodes the current state of anti-corruption reporting practices and highlights the urgent need for enhanced quality, reliability, and comparability in this crucial area. It also raises a series of policy questions around jurisdictional differences, comparability, governance, and the completeness and reliability of the information provided.