The IAASB and IESBA have issued landmark standards aimed at advancing trust and transparency in sustainability reporting and assurance.
Taken together, these new and revised standards provide a unified global approach to addressing the growing market demand and calls from regulators and other stakeholders for trustworthy sustainability information to support stakeholder decisions.
Frequently Asked Questions (FAQs) on Sustainability Assurance Engagements
These FAQs issued jointly by IAASB and IESBA Staff address practical questions about applying ISSA 5000 and IESSA together. They address the following areas:
- Identifying relevant ethical requirements
- Determining group and value chain components
- Using the work of another practitioner
- Addressing IESSA disclosure requirements in the assurance report
These standards establish clear expectations for ethical behavior in sustainability reporting and assurance, empowering practitioners and organizations to enhance trust and confidence in sustainability information.
The standards share five common goals:
- Equipping global markets with a cohesive package of standards.
- Offering a global baseline and leveling the playing field by meeting market demands and regulatory calls and expectations for profession-agnostic global standards.
- Providing a framework-neutral approach that allows ISSA 5000 and IESSA to be applied in relation to sustainability information prepared under any suitable sustainability reporting framework.
- Promoting informed decision-making based on trust and independently assured sustainability information.
- Mitigating risks of fraud, including greenwashing, and non-compliance with laws and regulations.
Access the IAASB and IESBA Standards and Guidance
Support from Global Leaders
Jean-Paul Servais, Chair, International Organization for Securities Commissions (IOSCO)
Sue Lloyd, Vice-Chair, International Sustainability Standards Board
Lee White, Chief Executive Officer, International Federation of Accountants
Paul Munter, Former Chair, Monitoring Group, and Former Chief Accountant, Office of the Chief Accountant, US Securities and Exchanges Commission (SEC)
Carol Adams, Chair, GRI's Global Sustainability Standards Board
Sebastian Soares, President, Institute of Independent Audit of Brazil (IBRACON)
Jessica Fries, Executive Chair, Accounting for Sustainability (A4S)
Emanuele Riva, Chair, International Accreditation Forum (IAF)
Nan Li Collins, Chair, UN Sustainable Stock Exchange Initiative
Alan Johnson, Chair, Stakeholder Advisory Council
Chikako Matsumoto, Chief Sustainability Officer and Managing Executive Officer of Sumitomo Mitsui Trust Group
Cra. Flavia Fernández, Presidenta de la Alianza Regional Latinoamericana
Linda de Beer, Chair, Public Interest Oversight Board