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The ESG Assurance Engagement: Auditing Non-Financial Data

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Overview      

As sustainability reporting continues to expand, accounting and assurance professionals need to understand how to assess the reliability, accuracy and completeness of ESG and other non-financial information. This webinar provides practical guidance on evaluating ESG data before it is used in sustainability reporting or subjected to assurance. 

Join Sandra Ramaite as she explores the ESG assurance engagement process, from understanding where ESG data originates and evaluating internal controls and supporting evidence, to identifying risks of material misstatement and greenwashing and reaching an appropriate assurance conclusion. The webinar will also introduce ISSA 5000 and its implications for sustainability assurance engagements. 

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 Learning objectives     

Attending this webinar will equip you with the following skills:  

• Understand key environmental, social and governance (ESG) metrics and how non-financial information is incorporated into sustainability and corporate reporting. 

• Explain the purpose and key requirements of ISSA 5000, including the distinction between limited and reasonable assurance engagements. 

• Identify and assess ESG reporting risks, including material misstatements, unreliable data, weak internal controls, estimation uncertainty and potential greenwashing. 

• Evaluate ESG data and supporting evidence by applying practical assurance principles to source documentation, calculations, methodologies, controls and reported ESG metrics. 

• Understand the ESG assurance engagement process, from planning and risk assessment through evidence gathering, evaluation of findings, documentation and the final assurance conclusion. 

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Content   

The webinar will cover the following topics:  

• ESG & Sustainability Reporting Fundamentals 

• ESG concepts and non-financial information 

• Sustainability KPIs and disclosures 

• Reporting boundaries and materiality 

• Sustainability Reporting Frameworks 

• IFRS S1 and IFRS S2 

• GRI Standards and Integrated Reporting 

• Regulatory and voluntary reporting requirements 

• Sustainability Assurance Framework 

• ISSA 5000 

• Ethical requirements, independence and professional scepticism 

• Practitioner responsibilities and competence 

• Limited vs Reasonable Assurance 

• Levels of assurance 

• Assurance engagement risk 

• Sufficiency and appropriateness of evidence 

• Planning & Risk Assessment 

• Engagement acceptance and scoping 

• Materiality and reporting boundaries 

• Risks of material misstatement 

• Internal Controls & ESG Data Governance 

• Data collection and information systems 

• Controls, reconciliations and audit trails 

• Data integrity and reliability 

• ESG Assurance Procedures & Evidence 

• Inspection, observation, confirmation and recalculation 

• Analytical procedures, sampling and testing 

• Verification of environmental, social and governance metrics 

• Greenwashing & ESG Misstatement Risk 

• Unsupported sustainability claims 

• Misclassification, omissions and double counting 

• Management bias and misleading KPIs 

• Evaluation & Assurance Reporting 

• Evaluation of misstatements and control deficiencies 

• Management representations 

• Limited and reasonable assurance conclusions and reporting 

• Practical ESG Assurance Case Study 

• Verification of ESG source data 

• Testing sustainability KPIs 

• Identifying exceptions and forming an assurance conclusion