The Public Interest Oversight Board (PIOB) has certified the ‘Global Ethics Sustainability Standards’ developed by the International Ethics Standards Board for Accountants (IESBA). The standards are aimed at strengthening ethical frameworks for sustainability reporting and assurance. The International Organisation of Securities Commissions (IOSCO) has also issued a statement encouraging its members to adopt or be guided by the framework.
Scheduled for official implementation on 27 January 2025, the standards are designed to support the integrity of sustainability reporting, ensuring reliable and transparent information for stakeholders such as investors, governments, and lenders.
The standards include the International Ethics Standards for Sustainability Assurance (IESSA) and revisions to the International Code of Ethics for Professional Accountants. The standards will be introduced alongside the International Auditing and Assurance Standards Board’s (IAASB) International Standard on Sustainability Assurance 5000 (ISSA 5000), providing a unified framework for sustainability reporting and assurance.
Gabriela Figueiredo Dias, Chair of IESBA, described the certification and IOSCO’s support as key steps in advancing ethical standards in sustainability reporting.
