IRBA Adopts ISSA 5000 for Sustainability Assurance
Brought to you by SA Accounting Academy: The Independent Regulatory Board for Auditors (IRBA) has approved the adoption and prescription of the International Standard on Sustainability Assurance (ISSA) 5000 for use by auditors in South Africa.
In terms of the Auditing Profession Act, No. 26 of 2005, the IRBA has issued Board Notice 690 of 2024, formally adopting ISSA 5000, General Requirements for Sustainability Assurance Engagements. This follows the release of the standard by the International Auditing and Assurance Standards Board (IAASB) in November 2024. The standard provides a unified global framework for assurance engagements on sustainability information across various topics and reporting frameworks.
The adoption includes conforming and consequential amendments to other international standards. ISSA 5000 is profession-agnostic, allowing both accountants and non-accountants to perform sustainability assurance engagements, provided they comply with relevant ethical and quality management requirements. The standard is designed to address the increasing demand from regulators and stakeholders for reliable sustainability reporting.
Effective Date and Implementation
ISSA 5000 and the related amendments become effective for assurance engagements on sustainability information reported for periods beginning on or after 15 December 2026, or as at a specific date on or after that day. The IRBA has indicated that early adoption is both permitted and encouraged.
The IAASB has provided several resources to support implementation, including:
- Implementation guides and fact sheets;
- Frequently Asked Questions (FAQs) and video series; and
- Illustrative reports and webinars.
The IRBA has further noted that a communique regarding the approval of the Final Pronouncement on Ethics Standards for Sustainability Assurance and other revisions relating to the use of external experts will be published in due course.
Click here to download the Board Notice 690 of 2024.
Click here to download the ISSA 5000 Standard.
Click here to download the IRBA Communiqu’e.
What this means for you, your business, or your clients
- For yourself: You must evaluate your current competency levels against the 231-page ISSA 5000 standard to determine if additional training or specialization in sustainability assurance is required before the 2026 implementation date.
- For your business: Audit firms must integrate ISSA 5000 into their internal quality management systems and update assurance methodologies to accommodate the profession-agnostic nature of the standard, especially when working with external experts.
- For your clients: Entities preparing sustainability reports must align their data collection and internal control frameworks with the evidence requirements of ISSA 5000 to ensure their disclosures are capable of being assured by an external provider.
Originally published at https://accountingacademy.co.za/news/read/irba-adopts-issa-5000-re-sustainability-assurance