New support materials from the International Auditing and Assurance Standards Board (IAASB) and the International Ethics Standards Board for Accountants (IESBA) aim to support companies implementing the boards’ global sustainability-related standards.
Following the release of International Standard on Sustainability Assurance (ISSA) 5000 and the International Ethics Standards for Sustainability Assurance (IESSA), the guidance seeks to promote interoperability and assist in consistent application of the standards, a news release said.
The joint frequently asked questions (FAQs) publication addresses practical questions about applying ISSA 5000 and IESSA together, according to the release, by examining how to identify relevant ethical requirements and determine group and value chain components and other areas.
The IESBA publication focuses on ethics and independence considerations for practitioners performing sustainability assurance engagements, the release said, looking at the scope of the ethics and independence standards in the IESSA and how to provide non-assurance services to a sustainability assurance client, among other considerations.
IFRS shows ISSB adoption progress across jurisdictions
Following the use and adoption of the International Sustainability Standards Board’s (ISSB’s) sustainability disclosure standards by multiple jurisdictions, the IFRS Foundation published 17 jurisdictional profiles to provide transparency about progress in achieving a global baseline of sustainability disclosures for capital markets.
“The profiles include information about each jurisdiction’s stated target for alignment with ISSB standards and the current status of its sustainability-related disclosure requirements,” a news release said, and 14 of those jurisdictions have set a target of “fully adopting” the standards.
The jurisdictions profiled are Australia, Bangladesh, Brazil, Chile, Ghana, Hong Kong SAR, Jordan, Kenya, Malaysia, Mexico, Nigeria, Pakistan, Sri Lanka, Chinese Taipei, Tanzania, Türkiye, and Zambia.
These profiles are complemented by snapshots that provide a “high-level overview of other jurisdictions regulatory approaches that are still subject to finalisation”, the release said. Twelve in this category propose or have published standards or requirements fully aligned with ISSB standards or designed to deliver outcomes functionally aligned with those resulting from the application of ISSB standards.
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