IAASB's Global Outreach Unveils Comprehensive FAQs on Materiality in Sustainability Assurance (ISSA 5000)
Oct 25, 2023
On October 25, 2023, the International Auditing and Assurance Standards Board (IAASB) published a comprehensive set of Frequently Asked Questions (FAQs), on materiality matters, to better help stakeholders navigate the recently proposed International Standard on Sustainability Assurance (ISSA) 5000, General Requirements for Sustainability Assurance Engagements.
The FAQ compilation addresses a variety of questions, including how the concept of materiality applies to sustainability reporting and assurance; the definition of double materiality; and how an assurance practitioner considers an organization’s “materiality process” during a sustainability assurance engagement, among other questions and answers.
The comment period for proposed ISSA 5000 is open until December 1, 2023. To promote broad and diverse participation in the ongoing public consultation, the IAASB has developed a stakeholder survey, which may be especially useful for stakeholders wishing to share less technical or overall feedback, and a response template.
Access the FAQ on the IAASB website.
