The International Auditing and Assurance Standards Board (IAASB) and the International Ethics Standards Board for Accountants (IESBA) have launched new standards and guidelines to strengthen trust and transparency in sustainability reporting. Taken together, these revised standards provide a unified global approach to addressing growing market demand and calls from regulators and other stakeholders for trustworthy sustainability information to support stakeholder decisions. The standards represent “an important evolution in global sustainability reporting and assurance,” said Tom Seidenstein, Chair of the IAASB. He added that they “establish the necessary technical and ethical pillars to ensure that qualified practitioners could consistently perform high-quality assurance engagements on sustainability information.” Gabriela Figueiredo Dias, Chair of the IESBA, said: “Ethics is the foundation of trust. With these standards, we are equipping preparers and practitioners with the tools needed to uphold integrity and foster transparency in sustainability reporting. Together, the IAASB and IESBA are setting a global standard for accountability and professionalism.” The IAASB develops auditing, assurance, related services, and quality management standards and guidance in the public interest that support consistent performance of quality engagements. The IESBA is an independent global standard setting board.
