IAASB Begins Work on Global Standards for ESG Assurance
16 January 2023
The International Auditing and Assurance Standards Board (IAASB) has published a public consultation for its 2024-27 proposed strategy and work plan, with it wishing to develop an overarching standard for assurance on sustainability reporting.
New globally accepted standards aim to improve investor confidence and “reduce the risk of material misstatements”.
The proposed strategy seeks to accelerate the actions originally laid out focusing on supporting high-quality audit and assurance engagements.
The plan outlines four strategic objectives:
- Support the consistent performance of quality audit engagements by enhancing our auditing standards in areas where there is the greatest public interest need
- Establish globally accepted standard(s) for assurance on sustainability reporting
- Strengthen coordination with the International Ethics Standards Board for Accountants and other leading standard setters and regulators to leverage better collective actions in the public interest and
- Create more agile, innovative ways of working in line with the Monitoring Group’s reform vision.
Strategic actions are identified for each of the strategic objectives together with planned actions.
You can find the proposed strategy and workplan here.
