Late yesterday, the International Organization of Securities Commissions (IOSCO), the international body of securities regulators, announced its support for the IAASB’s International Standard on Sustainability Assurance (ISSA) 5000. ISSA 5000 is a new global standard for sustainability assurance developed through a robust, collaborative due process.
In its statement, IOSCO highlights how ISSA 5000 fulfills key IOSCO recommendations to establish a comprehensive global assurance framework for sustainability-related corporate reporting. Critically, ISSA 5000 also requires practitioners to follow a strong ethical framework, a vital component of IOSCO’s recommendations. The International Ethics Standards Board for Accountants’ new sustainability-related standards, set for approval later this year, will provide practitioners with the ethics framework needed and meet IOSCO’s recommendation.
With global momentum building for mandatory sustainability reporting, the IAASB notes IOSCO’s encouragement for jurisdictions worldwide to adopt or incorporate ISSA 5000 to enhance confidence and comparability in sustainability disclosures. The IAASB is fully prepared to support jurisdictions in their adoption and implementation efforts. The IAASB will be releasing a series of implementation materials to support ISSA 5000 use in January.
Read IOSCO’s statement on the IOSCO website here.
Learn more about ISSA 5000 here: iaasb.org/issa5000