Overarching Standard for Assurance on Sustainability Reporting – AASB

Date recorded:

At its meeting on November 28-29, 2022, the AASB discussed issues related to this project. Key issues included: how the practitioner should group sustainability information for purposes of materiality, risk assessment, and evaluating misstatements; the practitioner’s conclusion in the sustainability assurance report (e.g., a single conclusion for all sustainability information being assured, or multiple conclusions for different topics or indicators disclosed in the sustainability information); and the differences in the approach between limited and reasonable sustainability assurance engagements for risk assessment. The AASB also discussed the Canadian next steps for sustainability assurance. The Board made a directional decision to adopt the IAASB’s proposed overarching standard as an Other Canadian Standard concurrently with the IAASB. In accordance with the AASB’s Due Process Manual, a project proposal will be presented at the AASB’s January 2023 meeting.

Review the Executive Summary on the AASB's Web site.

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