Sustainability assurance standard out now
The International Auditing and Assurance Standards Board (IAASB) published its proposed International Standard on Sustainability Assurance (ISSA) 5000, General Requirements for Sustainability Assurance Engagements in early August. It seeks to provide a comprehensive standard available to all assurance practitioners across the globe, applicable to sustainability information reported across any sustainability topic. “Our proposed ISSA 5000 is a crucial step in enhancing confidence and trust in sustainability reporting,” noted IAASB Chair Tom Seidenstein.
The exposure draft was published in English initially, with French, Japanese, Portuguese, and Spanish promised in the coming weeks. The IAASB now seeks a broad range of stakeholder input, and invites comments via the IAASB website by 1 December 2023.
We congratulate the IAASB on this significant milestone, brought forward in response to rapidly developing sustainability reporting standards, and we encourage our readers to provide your feedback. The next step to our minds has to be digital thinking. As digital reporting requirements for sustainability information click into place, the IAASB will need to ensure that there is an international standard for assurance of Inline XBRL disclosures.