Understanding the International Standard on Sustainability Assurance 5000

The IAASB has issued a new global sustainability assurance standard designed to strengthen the global sustainability disclosure ecosystem.

The International Standard on Sustainability Assurance (ISSA) 5000, General Requirements for Sustainability Assurance Engagements, is applicable across various sustainability topics and frameworks, and is designed for use by both professional accountants and non-accountant assurance practitioners.

When used alongside the sustainability-related ethics and independence standards issued by the International Ethics Standards Board for Accountants, ISSA 5000 provides a unified global approach to address the growing demand for trustworthy sustainability information to support stakeholder decisions.

ISSA 5000

The IAASB’s ISSA 5000 provides a principles-based framework for conducting assurance engagements on sustainability disclosures. The standard is designed to:

  • Enhance Reliability and Transparency: Focused on enhancing the credibility of sustainability reports, ISSA 5000 addresses the growing need for verified sustainability information among investors, regulators, and stakeholders.
  • Adapt to Global and Local Contexts: The standard is scalable and adaptable to regional regulatory requirements, such as the EU’s Corporate Sustainability Reporting Directive (CSRD), and can be used with any sustainability reporting framework or standard.
  • Support Diverse Practitioners: Applicable to all assurance providers, ISSA 5000 ensures consistency and rigor, incorporating materiality concepts and proportionality for organizations of all sizes.
International Standard on Sustainability Assurance 5000 Basis for Conclusions Implementation Guide

 

Looking for materials related to the public consultation and exposure draft phase of ISSA 5000's development?

Proposed ISSA 5000 web page