The International Auditing and Assurance Standards Board (IAASB) and the International Ethics Standards Board for Accountants (IESBA) have launched a collaborative initiative to reinforce trust and transparency in sustainability reporting and assurance.  

The new global sustainability assurance standards are designed to unify ethical expectations and specific requirements for practitioners and organisations involved in sustainability assurance engagements. 

These standards include the IAASB’s International Standard on Sustainability Assurance 5000 (ISSA 5000) and the IESBA’s new standard on using the work of experts. 

These aim to provide a global approach to meet the increasing demand for reliable sustainability information.  

The standards are intended to facilitate informed decision-making and mitigate risks such as greenwashing and non-compliance with laws and regulations. 

The IAASB’s ISSA 5000 and the IESBA’s IESSA share five key objectives. 

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These encompass equipping global markets with a set of standards, offering a global baseline, providing a framework-neutral approach, promoting informed decision-making, and mitigating risks of fraud.  

These objectives are central to the standards’ design, which is both scalable and adaptable to various regional regulatory requirements and sustainability reporting frameworks. 

The standards are set to become effective for reporting periods beginning on or after 15 December 2026, with early adoption being permitted and encouraged.  

To assist with the transition, the IAASB and IESBA will offer ongoing support through webinars, implementation guidance, and feedback channels to ensure a smooth and effective adoption process. 

The ISSA 5000 provides a principles-based framework for conducting assurance engagements on sustainability information reported by entities.  

It is focused on enhancing the credibility of reported sustainability information, addressing the needs of investors, regulators, and stakeholders.  

The standard incorporates concepts of materiality and proportionality, ensuring its applicability to organisations of all sizes. 

To further support practitioners, the IAASB has released new guidance materials, including an implementation guide, fact sheet, FAQs, and a series of FAQ videos.  

A webinar series is also scheduled for the coming months.