IAASB issues assurance standard on greenhouse gases
The International Auditing and Assurance Standards Board (IAASB) released a new International Standard on Assurance Engagements (ISAE) 3410 'Assurance Engagements on Greenhouse Gas Statements'. The standard addresses the practitioner's responsibilities in identifying, assessing, and responding to risks of material misstatement.
The standard’s requirements and guidance also recognise that most engagements will be undertaken by a multidisciplinary team, so they address the need for the assurance practitioner to integrate experts – in engineering or environmental science, for example – into various stages of the engagement. The new standard is effective on or after 30 September 2013.