The Institute of Chartered Accountants of India (ICAI) has announced a new standard on sustainability assurance, SSA 5000, which will take effect on 1 April 2027.
Titled the Standard on Sustainability Assurance 5000, General Requirements & Framework for Sustainability Assurance Engagements, the measure governs entity disclosures concerning sustainability topics, including climate impact, labour practices, and biodiversity.
ICAI President Prasanna Kumar D stated that the framework will bolster investor and stakeholder confidence by elevating domestic sustainability assurance to global standards. He noted that the principles-based framework broadens the scope of sustainability assurance while accommodating India’s diverse reporting frameworks.
With the implementation of SSA 5000 in April 2027, existing reporting frameworks—including SSA 3000 and SAE 3410—will be formally withdrawn.
Formulated with reference to the International Standard on Sustainability Assurance (ISSA 5000), an ICAI official confirmed on Sunday that SSA 5000 contains two specific carve-outs: provisions regarding joint audits and forward-looking statements have both been excluded from the Indian standard.
ICAI Vice President Mangesh Kinare added that the new standard accommodates varied reporting models with consistent operational rigour. The release forms part of broader ICAI initiatives to enhance corporate sustainability reporting, alongside measures such as the Sustainability Reporting Maturity Model (SRMM).
The ICAI, which serves as India’s primary accounting standards body, represents over 500,000 members nationwide.
