Overview of the IESBA's proposed Ethics Standards for Sustainability (IESSA)

Overview of the IESBA's proposed Ethics Standards for Sustainability (IESSA)

• 19 April 2024
• Ethics and Professionalism
• South African Accounting Academy

This 5-page executive summary, developed by IESBA Staff, highlights key elements of IESBA's recently released exposure draft on IESSA.

The ED on Sustainability Reporting and Assurance includes:

• Proposed IESSA for use by all sustainability assurance practitioners regardless of their professional backgrounds
• Proposed revisions to the IESBA Code for use by professional accountants (PAs) involved in sustainability reporting.

The Sustainability ED and the accompanying Explanatory Memorandum were released on January 29, 2024 and are open for public consultation until 10 May 2024.

Click here to download the Executive Summary:

https://ifacweb.blob.core.windows.net/publicfiles/2024-03/FINAL%20-%20IESBA%20Sustainability%20Standards%20%20-%20Executive%20Summary.pdf

Relevance to Auditors, Independent Reviewers & Accountants:

• As an accountant, auditor and independent reviewer, you need to comply with International Code of Professional Conduct.
• Failure to adhere to the Code may lead to disciplinary action.
• 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.
• IESSA must be applied by all sustainability assurance practitioners
• IESSA should also be used by professional accountants (PAs) involved in sustainability reporting.

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