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International Support for New Assurance Standards on Sustainability-Related Information

15 September 2022

The International Auditing and Assurance Standards Board (IAASB) and International Ethics Standards Board for Accountants (IESBA) welcomed new international support for developing standards relating to assurance of sustainability-related information. 

Stakeholders are increasingly seeking assurance of sustainability-related information and that it is important to respond to market demands with robust standards applicable to all sustainability assurance providers.

This follows the statement issued by The Board of the International Organization of Securities Commissions encouraging the Boards’ plans to work towards global assurance and ethics standards on sustainability-related information. In their statement, IOSCO highlights three priority areas for their Boards’ consideration:

  1. The importance of profession-agnostic standards, timely progress, and collaboration
  2. Focus on promoting transparency
  3. Addressing challenging issues

In response the IESBA anticipates approving a project plan by December 2022.

The IAASB and IESBA will continue to closely collaborate with IOSCO and other regulatory and standard-setting bodies to inform the development of robust standards that foster independent, high-quality engagements and globally consistent practices.

You can read the full article here.

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