The International Auditing and Assurance Standards Board (IAASB) and the International Accreditation Forum (IAF) have formalised a collaboration aimed at enhancing the quality and consistency of sustainability assurance worldwide. This partnership seeks to build trust in corporate sustainability disclosures by establishing a robust global framework for assurance.
In its letter of intent, IAF reaffirmed its commitment to aligning with the IAASB’s objective of ensuring high-quality and consistent assurance practices across different jurisdictions. A key component of this collaboration is IAF’s support for the use of the IAASB’s International Standard on Sustainability Assurance 5000 (ISSA 5000) in accredited verification activities where applicable. Additionally, IAF will engage with the International Federation of Accountants (IFAC) to address intellectual property considerations related to referencing IAASB standards.
IAASB Chair Tom Seidenstein welcomed the collaboration, emphasising its significance in strengthening sustainability assurance globally. He described ISSA 5000 as a foundational standard for assurance engagements on general-purpose sustainability reporting and highlighted the broader opportunity to develop a comprehensive framework covering engagement performance, quality management, ethics, and independence standards. Seidenstein underscored that the partnership would help maintain consistency in sustainability assurance practices and mitigate the risk of regulatory fragmentation. IAASB also expressed its support for ongoing discussions between IAF and IFAC regarding the use of ISSA 5000 and other IAASB standards for accreditation purposes.
“This partnership reflects our shared commitment to improving the reliability of sustainability disclosures, which are crucial for fostering stakeholder confidence and promoting sustainable business practices globally,” said Emanuele Riva, Chair of IAF. “IAASB standards integrate well with the verification activities on environmental, social, and governance (ESG) issues that accredited conformity assessment bodies have been conducting for years, including in regulated areas. We look forward to further incorporating IAASB standards into our accredited verification processes, reinforcing our dedication to high-quality sustainability assurance.”
