ACCA-可持续性保证-迎接挑战（英）-2023.2-40正式版

SUSTAINABILITY

ASSURANCE–

RISINGTOTHE

CHALLENGE

AboutACCA

ACCA(theAssociationofCharteredCertifiedAccountants)istheglobalprofessionalbodyforprofessionalaccountants.

We’reathrivingglobalcommunityof241,000membersand542,000futuremembersbasedin178countriesandregions,whoworkacrossawiderangeofsectorsandindustries.Weupholdthehighestprofessionalandethicalvalues.

Weoffereveryoneeverywheretheopportunitytoexperiencearewardingcareerinaccountancy,financeandmanagement.Ourqualificationsandlearningopportunitiesdevelopstrategicbusinessleaders,forward-thinkingprofessionalswiththefinancial,businessanddigitalexpertiseessentialforthecreationofsustainableorganisationsandflourishingsocieties.

Since1904,beingaforceforpublicgoodhasbeenembeddedinourpurpose.InDecember2020,wemadecommitmentstotheUNSustainableDevelopmentGoalswhichwearemeasuringandwillreportoninourannualintegratedreport.Webelievethataccountancyisacornerstoneprofessionofsocietyandisvitalinhelpingeconomies,organisationsandindividualstogrowandprosper.Itdoesthisbycreatingrobusttrustedfinancialandbusinessmanagement,combatingcorruption,ensuringorganisationsaremanagedethically,drivingsustainability,andprovidingrewardingcareeropportunities.

Andthroughourcutting-edgeresearch,weleadtheprofessionbyansweringtoday’squestionsandpreparingforthefuture.We’reanot-for-profitorganisation.

Findoutmoreat

©2023AssociationofCharteredCertifiedAccountants

February2023

SUSTAINABILITY

ASSURANCE–RISING

TOTHECHALLENGE

Aboutthisreport

Thisreportprovidesanoverviewofthecurrentlandscape

forsustainabilityassuranceandanintroductiontorelevant

requirementsofstandardsandguidanceissuedbythe

InternationalAuditingandAssuranceStandardsBoard

(IAASB).Italsoprovidesinsightsonthekeychallenges

thatpractitionerscurrentlyfaceinpractice,supportedby

evidencegatheredfromaseriesofvirtualroundtables

with global representation, while touching on the

relevantskillsandcompetencesneededforundertaking

sustainabilityassuranceengagements.

AUTHORS

AntonisDiolas,FCCA,LLB MariannaRogdaki,MSc,ACCA

HeadofAuditandAssurance, Audit&EthicsLead,

Policy&Insights,ACCA Policy&Insights,ACCA

AntonisisHeadofAuditandAssuranceatACCA’sPolicy&Insightsteam.HeleadsACCA’spolicyonauditandassurancematters,contributingtoPolicy&Insightsthoughtleadershippublicationsandresponsestoconsultations.AntonisisalsoatechnicaladvisorattheIAASB.

Antonisengagesatlocalandinternationallevelwithkeyorganisations–includingtheUK’sFinancialReportingCouncil,theUKGovernment’sdepartmentforBusiness,EnergyandIndustrialStrategy,theIAASBandAccountancyEurope.

HisresearchcanbeaccessedviatheACCAPolicy&Insightswebsiteat:/gb/en/professional-insights.html

MariannaisAuditandEthicsLeadatACCA’sPolicyandInsightsteambasedinLondon.Shehasanextensiveprofessionalandacademicbackgroundintheauditingfieldandherresearchinterestsinauditability,ethicsandsustainabilityhelpshapeACCA’spolicyintheareasofEthics&AuditandAssurance.

BeforejoiningACCA,MariannawasanauditpolicyresearcherattheLondonSchoolofEconomics(LSE)andavisitingLecturerofAccountingatKing’sCollegeLondon.ShealsoestablishedheraccountancycareerinPwCGreecespecialisinginauditingclients,mainlywithintheshippingandrealestateindustries.

HerresearchcanbeaccessedviatheACCAPolicy&Insightswebsiteat:/gb/en/professional-insights.html

Foreword

MikeSuffield

Director–Policy&Insights,

ACCA

Theevolutionofcorporatereportingishere,withmoreeyesthaneverfocusingonsustainabilityinformationanditsreporting.Investorsplacemorerelianceonsustainabilityreportingandwanttobeabletotrusttheinformationthattheyarepresentedwith,soattentionisincreasinglyturningtohowassuranceofthisinformationwillbeprovided.

Thesedevelopmentsrepresentbothachallengeandamassiveopportunityfortheaccountancyprofession.Globally,theprofessionisengagedinthinkingabouttheframeworkwithinwhichassuranceengagementsshouldbecarriedout,andwhowillbebestqualifiedtocarryoutthiswork.Somejurisdictions,mostnotablytheEuropeanUnion(EU)withitsCorporateSustainabilityReportingDirective(CSRD),areprogressingquicklyindevelopingfirmproposalsforanassuranceregimeforsustainabilityreporting.

Inthisreport,ACCAaimstoprovideanoverviewofthecurrentlandscapeforsustainabilityassuranceandanintroductiontosomeofthekeyrequirementsofInternationalStandardonAssuranceEngagements(ISAE)3000(Revised),theextantstandardforAssuranceengagementsotherthanauditsandreviewsofhistoricalinformation,andtherelevantparagraphsoftheSustainabilityandotherExtendedExternalReportingguidance,publishedbytheInternationalAuditingandAssuranceStandardsBoard(IAASB).

Wealsoprovideinsightsonthekeychallengesthatpractitionerscurrentlyfaceinpractice,supportedbyevidencegatheredfromaseriesofvirtualroundtablescarriedoutinlate2022andearly2023.Theseroundtablesbenefitedfromglobalrepresentationoftheprofession,includingexperiencedpractitionerswhoprovidesustainabilityassuranceunderISAE3000(Revised),aswellasotherrepresentativesinvolvedwithauditandassurancepolicy-relatedmatters.

Thereportconcludesthattheaccountancyprofession,alongsideotherprofessionalsperformingassuranceengagements,iswellplacedtosatisfytheunprecedenteddemandforsustainabilityassurance,highlightingthatthecoreassuranceskillsobtainedthroughexperienceoftheauditoffinancialstatementsremainofvitalimportanceinperformingsustainabilityassuranceengagements.

4

Contents

Foreword

3

Executivesummary

6

Introduction

8

1.

Currentlandscape

10

1.1

CorporateSustainabilityReportingDirective(CSRD)

11

1.2

InternationalAuditingandAssuranceStandardsBoard(IAASB)

11

1.3

InternationalEthicsStandardsBoardforAccountants(IESBA)

12

2.

Sustainabilityassuranceusingextantstandardandguidance

13

2.1

Ethicalandqualitymanagementrequirements

13

2.2

Applyingappropriatecompetenceandcapabilities

14

2.3

Acceptanceandcontinuance

15

2.4

Professionalscepticismandprofessionaljudgement

18

2.5

Planningandperformingtheengagement

19

2.5.1Limitedversusreasonableassurancelevel

19

2.6

Obtainingevidence

21

2.7

Identifyingmisstatements

22

2.8

Subsequentevents

24

2.9

Formingtheassuranceconclusion

24

3.

Keychallengesidentifiedinpractice

27

3.1

Roundtableinsights–IAASB’sidentifiedkeypriorityareasoffocus

27

3.2

Roundtableinsights–Additionalchallengesinpractice

29

4.

Competenciesandskills

32

5.

Limitationsofourapproach

34

6.

Conclusionandthewayforward

35

Appendix:Methodology

37

References

38

5

SUSTAINABILITYASSURANCE–RISINGTOTHECHALLENGE|EXECUTIVESUMMARY

Executivesummary

Sustainabilityreportingisevolvingveryrapidlyandhasbecomeoneofthehottesttopicsdiscussedglobally,bothwithinandoutsidetheaccountancyprofession.

Thisisdrivenbothbytheincreasedimportanceplacedbyinvestorsonsustainabilityreporting,influencingtheirinvestmentdecisions,andbythebroaderactionsputinplacebygovernmentsacrosstheglobetoaddressissuessuchasclimatechangeandbiodiversity,aswellastheiractionsaimedatreachingtheirownsustainabilitygoals.Trustinsustainabilityreportingisthereforeofvitalimportance,withstakeholdersexpectingassurancetofulfilitsroleinenhancingitscredibility.

ACCArecognisesthatowingtothehighvolumeofinformationinvolved,itcanbeoverwhelmingforthoseinterestedtofindoutrelevantdetailsortobeinvolvedinasustainabilityassuranceengagement,notknowingwheretostart.Thisreportaimstoraiseawarenessofthecurrentlandscapeforsustainabilityassurance.WealsorefertorelevantrequirementsoftheextantstandardISAE3000(Revised)(IAASB2022a)andrelatedparagraphsoftheIAASB’sSustainabilityandotherExtendedExternalReporting(EER)guidance(EERsee:IAASB2021)currently

usedbythevastmajorityofpractitionerswhoperformsustainabilityassuranceengagements.

SupportedbyevidencegatheredfromaseriesofvirtualroundtableswithpractitionersexperiencedinprovidingsustainabilityassuranceunderISAE3000(Revised),andwithglobalrepresentationoftheprofession,togetherwithotherrepresentativesinvolvedwithauditandassurancepolicy-relatedmatters,weprovideinsightsaboutthekeychallengescurrentlyfacedinpractice.TheIAASB’skeypriorityareasoffocus,aspartofitsprojectonsustainabilityassurance(approvedin2022),formedakeypartoftheseroundtablediscussions.

Recognisingtheunprecedenteddemandforsustainabilityreportingandassurance,thisreportalsoprovidesinsightsontheskillsrequiredforthoselookingtobeinvolvedinortoundertakeasustainabilityassuranceengagement,supportedbyourroundtableparticipants’sharedexperiences.

Ourresearchyieldedthefollowingkeymessages

WesuggestthattheIAASBandnationalstandardsettersshouldfindtherightcommunicationchannelstocreatevisibilityandawarenessofsomeofthekeydifferencesbetween‘limited’and‘reasonable’assurancetoavoidcreatinganewexpectationgapinsustainabilityassuranceengagements.

TheIAASB’sextantstandardISAE3000(Revised)andtheSustainability/EERguidanceprovideastrongfoundationforthoseintendingtoundertakeasustainabilityassuranceengagementbeforetheIAASB’soverarchingstandardisfinalised.

Indevelopingbothreportingandassurancestandards,standardsettersneedtoconsiderexplicitlytheriskofmisleadingreportingviagreenwashing,inasimilarwaytotheconsiderationoffraudinrelationtothereportingandauditoffinancialstatements.

Unlikefinancialstatementaudits,whereestimatesarenormallybasedonhistoricalinformation,estimatesinsustainabilityassuranceengagementsareoften

basedonhypotheticalfuturescenarios.WesuggestthataconceptdealingwithestimatesinsustainabilityassuranceengagementsshouldbeanareaoffuturefocusfortheIAASB.

Insustainabilityassuranceengagementsthereisanunprecedenteddependenceonsubjectmatterexperts,whichmaysuggesttheneedforadditionalstandardorguidancebeyondwhatiscurrentlyinISAE3000(Revised)andISA620.

Theassurancereportistheend-productofasustainabilityassuranceengagement,similartotheauditor’sreportinafinancialstatementaudit.Thisshouldberecognisedasakeypriorityareabystandardsettersandpolicymakers,particularlyindealingwiththedifferencesbetween‘limited’and‘reasonable’assurance.

Assuranceskillsobtainedthroughauditexperienceremainofvitalimportanceinperformingsustainabilityassuranceengagements.

6

SUSTAINABILITYASSURANCE–RISINGTOTHECHALLENGE|EXECUTIVESUMMARY

ACCARECOGNISESTHATOWINGTOTHEHIGHVOLUMEOFINFORMATIONINVOLVED,ITCANBEOVERWHELMINGFORTHOSEINTERESTEDTOFINDOUTRELEVANTDETAILSORTOBEINVOLVEDINASUSTAINABILITYASSURANCEENGAGEMENT,NOTKNOWINGWHERETOSTART.

7

SUSTAINABILITYASSURANCE–RISINGTOTHECHALLENGE|INTRODUCTION

Introduction

Thedemandforcorporatereportingthatgoesbeyondthescopeofcurrentfinancialstatementsisgrowingrapidly,andinturntheglobalresponse,inparticularviatheworkoftheInternationalSustainabilityStandardsBoard(ISSB),hasbeenswift.

Itisveryclearthatthedemandforsustainabilityreportingisnowhigherthanever,withregulatorsacrosstheglobeconsideringmandatoryreportingrequirements.Perhapsmostnotably,theEuropeanCommission(EC)intheEUhasreplacedtheNon-FinancialReportingDirective(NFRD)withtheCorporateSustainabilityReportingDirective(CSRD),introducingmandatorysustainabilityreportingrequirementsforalargerpoolofentities,alongsiderequirementsforassuranceoverpublishedinformation.

Thereisagreatdealofusefulinformationavailableonsustainabilityreportingandassurance,butitcanbedifficultforthoseinterestedtofindoutmoreinformationortobeinvolvedinasustainabilityassuranceengagement,toknowwheretobegin.Thisreportaimstohelp,byraisingawarenessofthecurrentlandscapeonassuranceoversustainability-relatedinformation.Thisincludessharinginsightsabouttheextantstandard,ISAE3000(Revised)(theStandard)(IAASB2022a)andrelatedparagraphsoftheIAASB’sSustainability/EERguidance(IAASB2021)currentlyusedbythevastmajority

ofpractitionerswhoperformsustainabilityassuranceengagements.Usingillustrativeexampleswherepossible,thisreportalsoreferstosomeofthekeystepsinvolvedinperformingasustainabilityassuranceengagement.

Additionally,weshareinsightsaboutthekeychallengesthatassurancepractitionerscurrentlyfaceinapplyingISAE3000(Revised)inperformingsustainabilityassuranceengagements.ACCAhasconductedroundtablesgloballywithassurancepractitionerstoimproveunderstandingandinformtheaccountancycommunitybetteraboutthesechallenges.TheIAASB’skeypriorityareasoffocus,aspartofitsprojectonsustainabilityassurance,discussedlaterinChapter1ofthisreport,formedakeypartoftheseroundtablediscussions.

Recognisingthatthereisanunprecedenteddemandforsustainabilityreportingandassurance,wealsooutlinethekeypointsraisedduringtheroundtablediscussionstouchingontheskillsrequiredforthoseinterested

inbeinginvolvedin,orundertaking,asustainabilityassuranceengagement.

Disclaimer:ThisreportisdesignedtohelpthoseinterestedinbeinginvolvedwithsustainabilityassuranceengagementsunderISAE3000(Revised),butitisnotasubstitutefortherequirementsoftheStandardortheSustainability/EERguidancethemselves.UndernocircumstancesshallACCAbeliableforanylossordamagesuffered,eitherdirectlyorindirectly,asresultofrelianceonanycontentsofthisreport.

8

SUSTAINABILITYASSURANCE–RISINGTOTHECHALLENGE|INTRODUCTION

ITISVERYCLEARTHATTHEDEMANDFORSUSTAINABILITYREPORTING

ISNOWHIGHERTHANEVER,WITHREGULATORSACROSSTHEGLOBECONSIDERINGMANDATORYREPORTINGREQUIREMENTS.

9

SUSTAINABILITYASSURANCE–RISINGTOTHECHALLENGE|1.CURRENTLANDSCAPE

Currentlandscape

Beforemakingadeepdiveintoassuranceoversustainabilityreportinginformation,itisworthclarifyingwhatwemeanbysustainabilityreporting,startingwithanoverviewofthecurrentlandscape.

Unlikefinancialreporting,sustainabilityreportingiscurrentlystillunderdevelopmentand,whileitusuallyinvolvesentities’reportingonenvironmental,socialandgovernance(ESG)matters,thereisstillnouniversallyaccepteddefinition.

Workisadvancingbothglobally(throughtheISSB)andregionally(e.g.throughtheEuropeanFinancialReportingAdvisoryGroup(EFRAG)inEurope)todevelopreportingstandards,andtheimportanceofalignmentbetweendifferentinitiativeswillbecrucialifprogressistobemadeinrationalisingthecurrentdivergentlandscapeintoamoreconsistentandcommonlyunderstoodapproach.

Therefore,whiletheconsolidationandharmonisationofthenumerousvoluntaryframeworks,standardsandguidance,suchusTaskForceonClimate-RelatedFinancialDisclosures(TCFD),theSustainabilityAccountingStandardsBoard(SASB),theGlobalReportingInitiative(GRI)andtheInternationalIntegratedReportingFramework(<IR>Framework),intoafewmandatoryandpotentiallymandatoryregulationsisapositivestep,thereiscontinuedsignificantdivergenceinreportingstandardsthatwillpotentiallyhaveanimpactonassurance.

TheEuropeanCommission(EC)viatheCSRDrequirestheadoptionofEUsustainabilityreportingstandardsbyeligiblereportingentities.TheEFRAGhasbeen‘requestedtoprovideTechnicalAdvicetotheEuropeanCommissionintheformoffullyprepareddraftstandardsand/ordraftamendmentstoSustainabilityReportingStandards’(EFRAG2022).InNovember2022,EFRAGapprovedtheamendedEuropeanSustainabilityReportingStandards(ESRS)whichformpartoftheCSRDandtheseareexpectedtobeadoptedbytheECbymid-2023.

Fromaninternationalperspective,theISSBpublishedtheExposureDraftIFRSS1,GeneralRequirementsforDisclosureofSustainability-relatedFinancialInformation(GeneralRequirementsExposureDraft),whichsetsouttheoverallrequirementsforanentity’sdisclosureofsustainability-relatedfinancialinformationcoveringallitssignificantsustainability-relatedrisksandopportunities,andtheExposureDraftIFRSS2Climate-relatedDisclosures(ClimateExposureDraft),whichbuildsupontherecommendationsoftheTCFDandincorporatesindustry-baseddisclosurerequirementsderivedfromSASBStandards(ISSB2022b).Atthetimeofwritingthisreport,thestandardsareexpectedtobereadyforuseinJanuary2024.

Whileitisclearthatsustainabilityreportingisstilldeveloping,andtimewillbeneededbeforecompaniesreachfullcompliancewiththeISSBstandards,itseemsthatweareheadingintherightdirectioninelevatingsustainabilityreportingtowardsthesamelevelasfinancialreporting.TheswiftresponseoftheISSBwiththedevelopmentoftheISSBstandards,alsoreducestheriskoffragmentationinsustainabilityreporting,whichinturn,willenablecomparability,similartotheInternationalFinancialReportingStandards(IFRS)infinancialreporting.

Asthedemandforsustainabilityreportinggrowsand,insomeinstances,becomesmandatory,thedemandforassuranceoversustainabilityreportinginformationgrowstoo.Thisshouldnotcomeasasurprise,asinvestors,regulatorsandotherstakeholdersseektoenhancetheirconfidenceinsustainabilityreportinginformationtothesamelevelthatthestatutoryauditprovidesoverfinancialinformation.

‘AUDITORSCONTRIBUTETOTHATPURPOSEBYINFLUENCINGCREDIBLEBUSINESSTHATENGENDERSTRUSTANDCONFIDENCEINITSOPERATIONS.INFACT,ITISAPURPOSETHATCANBETRACEDBACKTOTHEDAYSOFANCIENTEGYPTIANS,ROMANSANDGREEKS’(ACCA2020).

ACCA’sreportwiththeAdamSmithBusinessSchooloftheUniversityofGlasgowtitledCompanies’ReadinesstoAdoptIFRSS2Climate-relatedDisclosures,examinedthereadinessofcompaniestoadoptIFRSS2climate-relateddisclosures,usingasampleof100companiesfromtwodifferentsectors:thechemicalindustryandtheconstructionmaterialsindustry.Thereportstates:‘companiesinbothindustriesexhibitamoderateoverallleveloftheclimate-relateddisclosuresthatareprescribedbyEDIFRSS2.Companiesinthechemicalsindustryexhibitanoverallmeanscoreofdisclosureof43%,whereascompaniesintheconstructionmaterialsindustryhaveaslightlyloweroverallmeanscoreof39%’(ACCAandUniversityofGlasgow2022).

10

SUSTAINABILITYASSURANCE–RISINGTOTHECHALLENGE|1.CURRENTLANDSCAPE

Forexample,theEC,viatheCSRD,includesarequirementformandatorylimitedassuranceoversustainabilityreportingandaimstomovegraduallytowards‘reasonableassurance’.Inotherjurisdictions,suchasSouthAfrica,assuranceoverintegratedreportingforlistedentitiesisalsomandatory.Thisraisesthequestionofwhetherextantassurancestandardsremainrelevantandifso,whatthechallengesareforpractitionersusingthem.ThisisfurtherexaminedinChapters2and3ofthisreport.

1.1CorporateSustainabilityReportingDirective(CSRD)

On5January2023,theCSRDenteredintoforce,replacingtheNFRD.TheCSRDbringsapproximately50,000companiesintoscope,includinglistedsmallandmedium-sizedenterprises(SMEs),whichwillberequiredtoreportonsustainabilityundertheESRS(EC2023).

Thenewdirectiveaimstoendgreenwashingandlaythegroundworkforsustainabilityreportingstandardsatagloballevel(EC2022a).Greenwashingisdiscussedinmoredetaillaterinthisreport(seesection3.2).TheCSRDintroducesmoredetailedreportingrequirementsandensuresthatlargecompaniesarerequiredtoreportonsustainabilityissuessuchasenvironmentalrights,socialrights,humanrightsandgovernancefactors.

Additionally,thenewdirectivealsointroducesamandatorysustainabilityassurancerequirement(‘limitedassurance’withagradualmovetowards‘reasonableassurance’)forsustainabilityreportingaswellas‘improvedaccessibilityofinformation,byrequiringitspublication

inadedicatedsectionofcompanymanagementreports’(EuropeanCouncil2022).Requiringcompaniestohavetheinformationontheirimpactontheclimateorhumanrightstobeindependentlyauditedandcertifiedisaimedatenhancinginvestors’confidence.

TheimplementationofthenewCSRDruleswilltakeplaceinthreestages:

1January2024forcompaniesalreadysubjecttothe

NFRD

1January2025forcompaniesthatarenotcurrentlysubjecttotheNFRD

1January2026forlistedSMEs,smallandnon-complexcreditinstitutionsandcaptiveinsuranceundertakings(EuropeanCouncil2022).

Thesedevelopmentspresentavastopportunityandchallengetoassurancepractitionersthatthisreportexploresinsections3and4.

1.2InternationalAuditingandAssuranceStandardsBoard(IAASB)

InSeptember2022,theIAASBapprovedaprojectproposalforthedevelopmentofanoverarchingstandardforassuranceonsustainabilityreportingusinga‘stand-alone’approach.Thestandard’sproposedtitleisInternationalStandardofSustainabilityAssurance(ISSA)5000,GeneralRequirementsforSustainabilityAssuranceEngagements.TheIAASBagreedthatthestandardwouldbeconsistentwithISAE3000(Revised),recognisingtheneedtobemoreinnovativeinsomeinstances.

TheIAASB’sprojectobjectiveforISSA5000,istobe:

‘a) Responsivetothepublicinterestneedforatimelystandardthatsupportstheconsistentperformanceofqualitysustainabilityassuranceengagements;

Suitableacrossallsustainabilitytopics,informationdisclosedaboutthosetopics,andreportingframeworks,and

Implementablebyallassurancepractitioners’(IAASB2022b:4).

ThedevelopmentoftheISSA5000willaddresshowtoconductanassuranceengagementinitsentirety(ieallelementsoftheengagementfromengagementacceptancethroughtoreporting).

Thefollowingpointssummarisethepriorityareasthatwillbeconsideredaspartofdevelopingtheoverarchingstandard.

‘a) Thedifferenceinworkeffortbetweenlimitedandreasonableassurance,includingsufficiencyofevidence.

Thesuitabilityofthereportingcriteria,includingaddressingconceptssuchasdoublemateriality.

Thescopeoftheassuranceengagement.

Evidence,includingthereliabilityofinformationandwhatcomprisessufficientappropriateevidence.

Theentity’ssystemofinternalcontrolanditsimpactontheabilityofthepractitionertoobtainsufficientappropriateevidence,includingthereliabilityoftheinformationtobeusedasevidence.

Materialityinthecontextoftheassuranceengagement,includingmaterialityinthecontextofnarrativeandqualitativeinformation’(IAASB2022b:9).

THENEWDIRECTIVEAIMSTOENDGREENWASHINGANDLAYTHEGROUNDWORKFORSUSTAINABILITYREPORTINGSTANDARDSATAGLOBALLEVEL(EC2022A).

11

SUSTAINABILITYASSURANCE–RISINGTOTHECHALLENGE|1.CURRENTLANDSCAPE

1.3InternationalEthicsStandardsBoardforAccountants(IESBA)

InJune2022,theIESBAembarkeduponworktodevelopfit-for-purpose,globallyapplicableethicsandindependencestandardsasacriticalpartoftheregulatoryinfrastructureneededtosupporttransparent,relevantandtrustworthysustainabilityreporting.AsnotedinIESBA’sDecember2022update,‘thecoordinateddevelopmentofinteroperableglobalbaselinestandardsaddressingsustainabilityreportingandassurancehasbeenexplicitlysupportedbytheinternationalregulatorycommunity’(IESBA2022a),whichisrelevanttoboththeIAASBandISSB.

InDecember2022,theIESBAapprovedtwonewprojectsrelatingtosustainability.Thefirstonewasthe‘SustainabilityProject’focusingon:

‘• Profession-agnosticindependencestandardsforusebyallsustainabilityassurancepractitioners

Specificethicsprovisionsrelevanttosustainabilityreportingandassurance’(IESBA2022a).

Thesecondprojectwasthe‘ExpertsProject’focusingon:‘Specificethicsandindependenceprovisionsaddressingtheuseofexpertsbyorganisationsaswellasinthecontextofauditandassuranceengagements(includingsustainabilityassurance)’(IESBA2022a).

ACCAstronglysupportstheverypositivestepforwardbeingtakenbyboththeIAASBandtheIESBAasinternationalstandardsettingboardsforauditandassurancestandardsandethicsrespectively,inresponsetothepublic-interestdemandforglobalstandardsonsustainabilityassuranceandethics.Andsimilarly,ACCAsupportstheISSB’sactiononsustainabilityreportinginformation.

THESWIFTRESPONSEOFTHEISSBWITHTHEDEVELOPMENTOFTHEISSBSTANDARDS,REDUCESTHERISKOFFRAGMENTATION

INSUSTAINABILITYREPORTING,WHICHINTURN,WILLENABLECOMPARABILITY,SIMILARTOIFRSINFINANCIALREPORTING.

12

SUSTAINABILITYASSURANCE–RISINGTOTHECHALLENGE|2.SUSTAINABILITYASSURANCEUSINGEXTANTSTANDARDANDGUIDANCE

Sustainabilityassuranceusingextantstandardandguidance

Sustainabilityassuranceengagementsarecurrentlyperformedusingdifferentframeworks,suchasAccountAbility’sAA1000SeriesofStandards(Accountability2023)andtheInternationalStandardonAssuranceEngagements(ISAE)3000(Revised)(IAASB2022a).ArecentInternationalFederationofAccountants(IFAC)study(IFAC2022)foundthatthevastmajority1ofsustainabilityassuranceprovidersreviewedworldwideuseISAE3000(Revised).TheIAASBhasalsodevelopedtheISAE3410(IAASB2022a),aspecificstandardfocusingontheAssuranceEngagementsonGreenhouseGasStatements,andwhichbuildsonISAE3000.

Forthepurposesofthisreport,wefocusontheISAE3000(Revised)andtheNon-AuthoritativeGuidanceonApplyingISAE3000(Revised)toSustainabilityand

OtherExtendedExternalReporting(EER)AssuranceEngagements(‘Sustainability/EERGuidance’).

InthischapterwehighlightsomeofthekeyrequirementsofISAE3000(Revised)andrelevantparagraphsoft