CATEGORIES
- (3) Negotiating Tax Debt and Payment Arrangements with SARS
- (2)Account / Profile
- (535)Accounting
- (2)Accounting and Finance
- (21)Audit
- (156)Auditing and Assurance
- (1)Business
- (1)Business Management
- (3)Business Rescue
- (94)CIPC
- (7)Compliance
- (18)Ethics and Professionalism
- (46)Financial Reporting
- (1)Government Funding Applications
- (4)Guides
- (1)Individuals Tax
- (19)Law
- (37)Legal and Compliance
- (2)Management
- (5)Miscellaneous
- (22)Money Laundering
- (1)Personal & Professional Development
- (2)Practice Management
- (2)Professional Ethics
- (3)Public Sector
- (145)Regulatory Compliance and Legislation
- (41)SARS Issues
- (26)Sustainability Reporting
- (33)Tax
- (1)Tax Update
- (5)Technology
- (1)Wills, Estates & Trusts
- Show All
IAASB: Withdrawal of ISAE 3410
- 15 May 2025
- Auditing and Assurance
- South African Accounting Academy
Summary:
The International Auditing and Assurance Standards Boards (IAASB) has approved the withdrawal of International Standard on Assurance Engagements (ISAE) 3410, Assurance Engagements on Greenhouse Gas Statements.
Article:
This represents a consolidation of sustainability assurance standards, withdrawing one standard related to greenhouse gas emissions now that a broader sustainability standard has been approved.
This decision follows the approval and certification in 2024 of the International Standard on Sustainability Assurance (ISSA) 5000, General Requirements for Sustainability Assurance Engagements.
ISSA 5000 addresses assurance of all types of sustainability information, including greenhouse gas emissions, regardless of how that information is presented. It is effective for assurance engagements on sustainability information reported for periods beginning on or after 15 December 2026, or as at a specific date on or after 15 December 2026.
Consequently, the withdrawal of ISAE 3410 will take effect from the effective date of ISSA 5000, i.e. assurance engagements on sustainability information reported for periods beginning on or after 15 December 2026.
Click here to access the announcement:
Relevance to Auditors, Independent Reviewers & Accountants:
- As an auditor and independent reviewer, you need to comply with International Standards on Auditing and other Assurance Services, and thus you need knowledge of newly revised standards that are approved as well as when they become effective.
- Failure to adhere to International Standards may be interpreted as negligence and you could be held liable.
- As an auditor and independent reviewer, you should be aware of new standards issued by the standard-setting bodies, e.g. the IAASB – especially where standards are withdrawn and replaced by other broader and newly approved standards which covers assurance requirements across all types of sustainability information.