Following the increased reporting on sustainability in recent years, the growing demand of stakeholders for quality non-financial reporting and recognising the critical role of assurance in sustainability reporting, the International Auditing and Assurance Standards Board (IAASB) commenced work on the International Standard on Sustainability Assurance (ISSA) 5000, which is expected to be issued later this year with an effective date one to two years after issue.
The need for this new standalone standard on sustainability reporting assurance was to ensure a consistent approach to sustainability reporting assurance.
