The Exposure Draft on IESSA and ethics standards for sustainability reporting proposes a clear framework of expected behaviors and ethics provisions for use by all sustainability assurance practitioners, regardless of their professional backgrounds, as well as professional accountants involved in sustainability reporting. The goal of these standards is to mitigate greenwashing and elevate the quality of sustainability information, thereby fostering greater public and institutional trust in sustainability reporting and assurance.
The Exposure Draft on Using the Work of an External Expert proposes an ethical framework to guide professional accountants or sustainability assurance practitioners, as applicable, in evaluating whether an external expert has the necessary competence, capabilities, and objectivity in order to use that expert’s work for the intended purposes. The proposals also include provisions to aid in applying the Code’s conceptual framework when using the work of an external expert.
These proposed ethics (including independence) standards are especially relevant in a context where sustainability information is increasingly important for capital markets, consumers, corporations and their employees, governments and society at large, and when assurance providers outside of the accounting profession play a prominent role in sustainability assurance.
The webinars will provide useful information and valuable insight on the proposals in the Exposure Drafts for participants from all stakeholder groups, including regulators, preparers of sustainability information, sustainability assurance practitioners from all backgrounds, and investors.
The webinars were held in English and are available on IESBA’s YouTube Channel (link)
Webinar for the Using the Work of an External Expert Exposure Draft
Timing: February 22, 7:00 to 8:00 am EST
Presenters:
Laurie Endsley, IESBA Vice Chair and Using the Work of an External Expert Task Force Chair
This high-level summary is designed to highlight non-assurance services, relationships, interests, or circumstances that are prohibited for PIE audits. It will be a useful reference to stakeholders, including regulators and audit oversight bodies, audit firms and individual audit practitioners, the corporate governance community, investors, preparers, and educational bodies or institutions.
New resources from the International Auditing and Assurance Standards Board (IAASB) are now available to help stakeholders understand, implement, and use the new standard for audits of smaller and less complex entities (the ISA for LCE). A comprehensive new three-part video series is now available and registration has opened for a global webinar.
Navigating the ISA for LCEVideo Series
The newly released video series details important aspects of the standard.
Exploring the Benefits: Learn more about the objectives, benefits, and its distinguishing features compared to the full suite of ISAs.
A Closer Look at Applicability and Use: Understand the conditions under which the standard can be applied, including the role of legislative and regulatory authorities.
A Step-by-Step Walkthrough: Gain an in-depth understanding of the standard’s design principles, structure, and content layout.
Global Webinar: Understanding the ISA for LCE
Don’t miss the opportunity to gain a comprehensive overview of the ISA for LCE.
Date/Time: April 3, 2024 at 7:00-8:30 am ET
Venue: Zoom with livestreaming on YouTube and LinkedIn
Agenda: Key topics include the standard’s purpose, authority, structure and associated benefits
In addition to the webinar and video series, the IAASB will also issue supplementary guidance, a fact sheet on adoption, and a first-time implementation guide in 2024. All materials will be available on the IAASB website: www.iaasb.org/ISAforLCE
