IAASB Releases ISSA 5000 Extracts for Sustainability Assurance
Brought to you by SA Accounting Academy: The Staff of the International Auditing and Assurance Standards Board (IAASB) has released two new resource extracts from the International Standard on Sustainability Assurance (ISSA) 5000 to support the implementation of sustainability assurance engagements.
In terms of the International Standard on Sustainability Assurance (ISSA) 5000, General Requirements for Sustainability Assurance Engagements, these extracts provide a focused view of the material relevant to limited assurance and reasonable assurance engagements respectively. The IAASB developed these reference documents in response to stakeholder requests to more easily identify the requirements and application material most relevant to specific jurisdictional decisions and engagement types.
The release includes two separate documents, each approximately 193 pages, covering:
- Requirements and application material specific to Limited Assurance Engagements; and
- Requirements and application material specific to Reasonable Assurance Engagements.
The IAASB clarifies that these extracts are for reference purposes only and do not amend, replace, or override the authoritative text of ISSA 5000. The full standard remains the primary source for practitioners. This publication is part of a broader support package that will include a webinar series scheduled for Q3 and Q4 of 2025.
Access the adoption information and the extract documents on the IAASB website at https://www.iaasb.org/focus-areas/understanding-international-standard-sustainability-assurance-5000
What this means for you, your business, or your clients
- For yourself: Use the specific extracts to streamline your technical review of ISSA 5000 requirements, ensuring you apply the correct evidence-gathering procedures for the specific level of assurance (limited vs. reasonable) being provided.
- For your business: Update your firm’s assurance methodologies and quality management systems to align with the distinct requirements for limited and reasonable assurance as delineated in these 193-page extracts.
- For your clients: Advise clients on the differing levels of rigor, internal control documentation, and evidence required for a reasonable assurance engagement compared to a limited assurance engagement under the new sustainability framework.
Originally published at https://accountingacademy.co.za/news/read/iaasb-extracts-from-issa-5000-for-limited-and-reasonable-assurance-engagements