Proposed International Standard on Sustainability Assurance 5000 Approved for Public Consultation by Unanimous Vote

The IAASB is excited to announce that it has approved by unanimous vote the draft International Standard on Sustainability Assurance (ISSA) 5000, General Requirements for Sustainability Assurance Engagements, for public consultation. The consultation will be open by early August until early December 2023.

With the increasing global demand for corporate reporting and disclosure on sustainability, ESG (environmental, sustainability, and governance), and climate-related information, we are proud to have risen to the occasion by developing this new proposed standard. This proposed standard aims to enhance confidence in sustainability reporting, responds to IOSCO recommendations, and complements the work of other standard setters, including the International Ethics Standards Board for Accountants, EFRAG, International Sustainability Standards Board and IFRS Foundation, Global Reporting Initiative, and others.

Once finalized, ISSA 5000 will serve as a comprehensive, stand-alone standard suitable for limited and reasonable sustainability assurance engagements. It will apply to sustainability information reported across any sustainability topic and prepared under multiple frameworks. Moreover, the standard will be profession-agnostic, enabling its use by professional accountants and other professionals performing sustainability assurance engagements.

As the IAASB works toward the release of the draft standard in the coming weeks, it is also in the process of finalizing extensive outreach plans. These plans include a series of four roundtable discussions, as well as virtual, regional, and national events held in partnership with other organizations throughout the consultation period. To stay updated on the latest information and upcoming events, please follow us on Twitter and LinkedIn and consider registering or subscribing to our mailing list via the IAASB website.