At its meeting on June 12-13, 2023, the AASB discussed the following key issues discussed included: the full proposed ISSA 5000, including illustrative assurance reports and the proposed conforming and consequential amendments arising from ISSA 5000; how the IAASB Task Force addressed substantive matters related to proposed ISSA 5000, including: the concepts of sustainability matters, sustainability information, and disclosures and their interoperability within the standard; the concepts of “double materiality”, more than one materiality for the same assurance engagement, and differentiating the concept of materiality applied by the entity (e.g., materiality process), and the practitioner’s consideration or determination of materiality (engagement materiality); the convention for the effective date of proposed ISSA 5000; and the relevant matters for the Explanatory Memorandum to accompany the exposure draft of the proposed ISSA 5000.

It also discussed the Canadian issues pertaining to the exposure draft of the proposed Canadian Standard on Sustainability Assurance, such as: the exposure period; any possible Canadian amendments; any questions to include in the Canadian Exposure Draft; and the planned outreach with interested and affected parties.

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