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IESBA: New Proposed IESSA: International Ethics Standards for Sustainability Assurance ED
- 31 January 2024
- Sustainability Reporting
- South African Accounting Academy
The Exposure Draft on International Ethics Standards for Sustainability Assurance (including International Independence Standards) (IESSA) and ethics standards for sustainability reporting proposes a clear framework of expected behaviours and ethics provisions for use by all sustainability assurance practitioners regardless of their professional backgrounds, as well as professional accountants involved in sustainability reporting. The goal of these standards is to mitigate greenwashing and elevate the quality of sustainability information, thereby fostering greater public and institutional trust in sustainability reporting and assurance.
This ED includes revisions to the existing Code related to sustainability reporting.
This ED is intended to be read with the separate Explanatory Memorandum, which is available at https://ifacweb.blob.core.windows.net/publicfiles/2024-01/Proposed%20IESSA%20and%20Other%20Revisions%20to%20the%20Code%20Relating%20to%20Sustainability%20Assurance%20and%20Reporting%20-%20Explanatory%20Memorandum.pdf
This is one of 2 new exposure drafts that set forth the first comprehensive suite of global standards on ethical considerations in sustainability reporting and assurance.
Proposed standards aim to foster greater trust in all publicly communicated sustainability information through the application of a consistent ethical approach.
Comments on the IESSA ED are requested by 10 May 2024. The IESBA welcomes comments from the entire sustainability community – professional accountants, all other sustainability practitioners, regulators, and investors.
IESBA will soon release fact sheets and other explanatory materials on this ED.
Click here to download the Exposure Draft:
Relevance to Auditors, Independent Reviewers & Accountants:
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As an accountant, auditor and independent reviewer, you need to comply with the International Code of Professional Conduct.
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Failure to adhere to the Code may lead to disciplinary action.
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Auditors, Independent Reviewers and Accountants should be aware of the latest standards of the International Code of Ethics for professional accountants, as well as approved exposure drafts that have been issued.
Relevance to Your Clients:
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None