The IAASB and IESBA have coordinated to develop ISSA 5000 and IESSA, global standards for sustainability assurance. ISSA 5000 provides requirements for quality assurance engagements, and IESSA establishes ethics and independence standards for practitioners. These standards aim to ensure reliable, credible, and comparable sustainability information for decision-making. ISSA 5000 and IESSA address the rising demand for trustworthy sustainability data and the risks of fraud like greenwashing. These standards are designed to be framework-neutral and applicable across different jurisdictions. The effective date for ISSA 5000 and IESSA is December 15, 2026, with some IESSA provisions effective July 1, 2028.
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El IAASB y el IESBA han coordinado esfuerzos para desarrollar el ISSA 5000 y el IESSA, estándares globales para la aseguración de la sostenibilidad. El ISSA 5000 establece los requisitos para los encargos de aseguramiento de calidad, mientras que el IESSA establece normas de ética e independencia para los profesionales. Estos estándares tienen como objetivo garantizar información de sostenibilidad confiable, creíble y comparable para la toma de decisiones.
El ISSA 5000 y el IESSA responden a la creciente demanda de datos de sostenibilidad confiables y a los riesgos de fraude, como el greenwashing. Estos estándares están diseñados para ser neutrales respecto a los marcos normativos y aplicables en diferentes jurisdicciones.
La fecha de entrada en vigor del ISSA 5000 y el IESSA es el 15 de diciembre de 2026, con algunas disposiciones del IESSA entrando en vigor el 1 de julio de 2028.
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ISSA 5000 & IESSA_ Global Sustainability Assurance Standards (1)
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Section 1: General Concepts of Sustainability Assurance
- What is ISSA 5000, and what role does it play in sustainability assurance?
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ISSA 5000 (International Standard on Sustainability Assurance 5000) is a global standard developed by the IAASB to provide a robust framework for conducting quality sustainability assurance engagements. It ensures that sustainability reports are reliable, credible, and trustworthy, thereby enhancing stakeholders’ confidence in the reported information. ISSA 5000 is designed to work alongside the IESBA’s IESSA (International Ethics Standards for Sustainability Assurance) and is underpinned by firms’ systems of quality management as per ISQM 1. - What is the IESSA, and how does it complement ISSA 5000?
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The International Ethics Standards for Sustainability Assurance (IESSA) is part of the IESBA’s Code of Ethics and provides a comprehensive framework for ethics and independence requirements in sustainability assurance engagements. It ensures that sustainability assurance practitioners uphold ethical behavior, maintain professional skepticism, and avoid conflicts of interest. The IESSA is designed to complement ISSA 5000 by reinforcing ethical conduct and independence in assurance engagements. - Why was the ISSA 5000 standard developed?
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The ISSA 5000 standard was developed in response to the increasing demand for sustainability assurance and the need for reliable, comparable, and trustworthy sustainability reporting. Investors, regulators, and other stakeholders require assurance that sustainability disclosures are not misleading and meet high ethical and professional standards. The standard also aims to prevent greenwashing and enhance transparency in sustainability reporting.
Section 2: Key Components of Sustainability Assurance
- What are the main objectives of sustainability assurance engagements?
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Sustainability assurance engagements aim to enhance stakeholders’ confidence in reported sustainability information by ensuring that it is free from material misstatements, fraud, or errors. These engagements also help organizations identify and address risks related to sustainability reporting, including compliance with laws and regulations, ethical concerns, and transparency in environmental, social, and governance (ESG) disclosures. - Who are the intended users of sustainability assurance reports?
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Intended users of sustainability assurance reports include investors, regulators, lenders, customers, suppliers, employees, and other stakeholders who rely on sustainability disclosures for decision-making. These users require reliable, independently assured information to assess an entity’s environmental and social impact, compliance with regulatory requirements, and overall sustainability performance. - What is the role of external experts in sustainability assurance engagements?
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External experts play a critical role in sustainability assurance engagements by providing specialized knowledge in areas such as environmental science, carbon accounting, and social impact analysis. The IESBA’s new standard on Using the Work of an External Expert ensures that professional accountants and sustainability assurance practitioners maintain professional skepticism and properly assess the work of experts when incorporating their findings into sustainability reports.
Section 3: Ethical and Quality Management Standards
- What are the ethical principles outlined in the IESSA for sustainability assurance practitioners?
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The IESSA outlines key ethical principles such as integrity, objectivity, professional competence, confidentiality, and professional behavior. These principles help sustainability assurance practitioners maintain independence, avoid conflicts of interest, and uphold public trust in their assurance reports. The IESSA is based on well-established ethics and independence provisions used in financial audits. - How does ISQM 1 relate to ISSA 5000?
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ISQM 1 (International Standard on Quality Management 1) provides a framework for firms to establish and maintain quality management systems for assurance engagements. ISSA 5000 requires sustainability assurance practitioners to comply with ISQM 1, ensuring that their work meets rigorous quality standards and that they apply professional skepticism throughout the assurance process. - What risks does sustainability assurance seek to address?
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Sustainability assurance aims to mitigate risks such as greenwashing (misleading sustainability claims), fraud, errors in data reporting, and non-compliance with regulations. By providing a structured assurance process, ISSA 5000 and IESSA help entities improve transparency, enhance credibility, and ensure that sustainability disclosures accurately reflect their impact and commitments.
Section 4: Global Baseline Standards and Regulatory Alignment
- How do ISSA 5000 and IESSA establish a global baseline for sustainability assurance?
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ISSA 5000 and IESSA serve as a global baseline for sustainability assurance by setting profession-agnostic standards that apply to all sustainability assurance practitioners, regardless of their background. These standards align with regulatory expectations from organizations such as IOSCO, the Financial Stability Board (FSB), and the Public Interest Oversight Board (PIOB), creating a consistent approach to sustainability assurance worldwide. - How do ISSA 5000 and IESSA address different sustainability reporting frameworks?
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ISSA 5000 and IESSA are designed to be framework-neutral, meaning they can be applied to sustainability reports prepared under various reporting frameworks, including IFRS Sustainability Disclosure Standards, European Sustainability Reporting Standards (ESRS), and the Global Reporting Initiative (GRI). This flexibility allows assurance engagements to be conducted consistently across different jurisdictions and industries. - What is the effective date of ISSA 5000 and IESSA?
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ISSA 5000 will be effective for sustainability assurance engagements conducted for periods beginning on or after December 15, 2026. The IESSA has the same effective date, with additional provisions related to value chain components becoming effective from July 1, 2028. These transitional provisions ensure a smooth adoption of the new standards globally.
