The IAASB issued the proposed, landmark International Standard on Sustainability Assurance (ISSA) 5000, General Requirements for Sustainability Assurance Engagements, for public consultation on August 2.
When approved, ISSA 5000 will be the most comprehensive sustainability assurance standard available to all assurance practitioners across the globe. It will apply to sustainability information reported about any appropriate sustainability matter and prepared under any suitable framework. It will also apply for both limited and reasonable assurance engagements.
ISSA 5000 also benefits from close consultation and coordination with other global organizations, including IOSCO, FSB, IESBA, ISSB, and GRI.
From August 2 to December 1 is when we need to hear from you; your feedback on the proposed standard is crucial. We need to hear from those who:
Prepare, use or provide assurance on sustainability information
Use reported sustainability information to make decisions, including audit committee members, investors, and others.
The International Public Sector Accounting Standards Board® (IPSASB®) seeks nominations from individuals, or representatives from organizations, interested in serving as a member of the IPSASB Consultative Advisory Group (CAG).
The CAG is an integral part of the IPSASB’s formal process for consultation and a forum for the IPSASB to obtain the views of those interested in, or affected by, the development and maintenance of its high-quality International Public Sector Accounting Standards™ (IPSAS™) used by governments and public sector entities around the world. CAG members have an opportunity to get involved in shaping the development of IPSASB Standards.
CAG members serve an initial term of up to three years. The CAG formally meets twice a year in different locations across the globe and may be convened for additional discussions as requested by the IPSASB. Interested nominees should be committed to attending all meetings.
The IPSASB is particularly interested in nominees with skills and experience that include:
The ability to perceive strategic public sector issues important to financial reporting, sustainability reporting, and the use of financial statements;
A deep understanding of IPSASB Standards; such as those involved in their adoption and implementation; and/or
A strong knowledge of public financial management.
The IPSASB values diverse perspectives and encourages qualified candidates that add to the CAG’s overall professional, geographic, and gender diversity. In pursuit of a globally representative advisory group, the IPSASB particularly encourages women and those from Africa, Asia, Middle East, and Latin America to apply.
How to Apply:
Those interested in CAG membership should submit their nominations by email to CAGChair@IPSASB.org. The nomination should include the CV and contact details of the nominee, as well as a cover letter that notes the reasons for their interest and the value they would add to the CAG.
Nominations are due by September 29, 2023.
About the IPSASB
The International Public Sector Accounting Standards Board® (IPSASB®) works to strengthen public financial management globally through developing and maintaining accrual-based International Public Sector Accounting Standards® (IPSAS®) and other high-quality financial reporting guidance for use by governments and other public sector entities. It also raises awareness of IPSAS and the benefits of accrual adoption. The Board receives support from the Asian Development Bank, the Chartered Professional Accountants of Canada, the New Zealand External Reporting Board, and the governments of Canada and New Zealand. The structures and processes that support the operations of the IPSASB are facilitated by the International Federation of Accountants (IFAC). For copyright, trademark, and permissions information, please go to permissions or contact permissions@ifac.org.
In September 2023, the United Nations will mark the half-way point to the deadline set for achieving the 2030 Agenda and the Sustainable Development Goals. This is an important juncture for global leaders to reflect on the progress we have made, the progress we have not made, and the challenges we face ahead.
Reflecting on the G20’s current theme of One Earth, One Family, One Future, IFAC, acting in its role as the global voice of the accountancy profession, highlights the importance of inclusivity in underpinning sustainable development in its 2023 Call to Action. We must approach sustainability, the public sector, small- and medium-sized entities (SMEs), and education with an inclusive approach to make sure that the opportunities of today and tomorrow are shared, and that economic and social development are truly sustainable.
“We have serious challenges ahead of us. Fortunately, the global accountancy profession is a committed partner, doing our part to drive sustainable development and demonstrating leadership as a truly global and inclusive profession,” said IFAC CEO Kevin Dancey.
IFAC calls on G20 leaders to:
1. Make Sustainability A Reality, Not Just a Goal
Lead on achieving the UN SDGs and provide a foundation for net zero transitions
Support the ISSB's global baseline for sustainability disclosures
Support mandatory assurance of sustainability information pursuant to ISSA 5000
Support the work of the International Public Sector Accounting Standards Board to develop sustainability reporting standards for the public sector
2. Support Public Financial Management and Fight Corruption
Support high-quality public financial management, professionalization in the public sector, and accrual accounting at all levels of government
Continue to prioritize full adoption and implementation of global commitments on the fight against corruption, such as the G20 Anti-Corruption Action Plan
3. Create an Environment for SME Growth and Innovation
Embed the unique needs of SMEs into global policy making
Support access to digital infrastructure and skills for SMEs
Provide a supportive regulatory environment for SMEs
4. No Inclusive Growth without Education
Support equal access to education, including STEM (science, technology, engineering and math) and accounting skills
Support financial literacy globally and locally
About IFAC IFAC is the global organization for the accountancy profession dedicated to serving the public interest by strengthening the profession and contributing to the development of strong international economies. IFAC is comprised of 180 members and associates in more than 135 jurisdictions, representing millions of professional accountants in public practice, education, government service, industry, and commerce.
Inclusive approach to key global challenges—like sustainability and education—necessary to achieve the UN SDGs
