The International Auditing and Assurance Standards Board (IAASB) has published a new set of illustrative practitioner’s assurance reports to further support the implementation of International Standard on Sustainability Assurance (ISSA) 5000, General Requirements for Sustainability Assurance Engagements. The IAASB developed this new set of examples through a joint initiative with a group of jurisdictional auditing and assurance standard setters, whose collaboration and support have been crucial in shaping this guidance.
While ISSA 5000 includes four illustrative reports that reflect the baseline requirements of the standard, this new publication provides more specific examples to help practitioners apply the standard in real-world scenarios.
The examples illustrate how ISSA 5000 can be applied across a range of engagements:
Five examples of assurance reports with unmodified assurance conclusions, addressing common engagement types:
Assurance on sustainability disclosures aligned with IFRS S1 and S2, for both limited and reasonable assurance engagements
Assurance on selected sustainability disclosures in an entity’s sustainability report
Assurance on sustainability disclosures prepared using multiple reporting frameworks
Assurance engagements combining limited and reasonable assurance
A further three examples of assurance reports with modified conclusions illustrating a:
Qualified conclusion
Disclaimer of conclusion
Adverse conclusion
Together, these illustrative reports help bring ISSA 5000 to a practical level, demonstrating how technical issues can be addressed in practice. They reflect questions and issues that regulators, practitioners, and others have begun to encounter as they adopt and apply the new standard.
This publication is part of the IAASB’s broader efforts to support the adoption and implementation of ISSA 5000 and provide guidance to help practitioners apply the standard with confidence and consistency.
To view the illustrative reports and learn more about ISSA 5000, visit www.iaasb.org/ISSA5000.
This set of illustrative practitioner’s assurance reports provides support the implementation of International Standard on Sustainability Assurance (ISSA) 5000, General Requirements for Sustainability Assurance Engagements. The examples were developed through a joint initiative with a group of jurisdictional auditing and assurance standard setters, whose collaboration and support have been crucial in shaping this guidance.
IPSAS 33 lays out how an entity that has never applied accrual IPSAS Standards can begin doing so in a consistent, credible way. Moving to accrual accounting can be technically complex and lengthy process. IPSAS 33 provides transitional reliefs (temporary exemptions and accommodations) to reduce burden and ease the transition to accrual-based IPSAS Standards.
“The successful application of IPSAS 33 is often a cornerstone of the adoption and implementation of IPSAS Standards. A government that uses IPSAS Standards is better equipped to make sound financial decisions, and we want to make the journey to implementation as easy as we can.” said IPSASB Chair Ian Carruthers. “This pronouncement does not to change the objective, scope, or available exemptions in IPSAS 33, rather, the updated version of IPSAS 33 clarifies the guidance, making it easier for entities to successfully complete their IPSAS transition journey.”
IPSAS 33 was originally issued in 2015 and has been applied by a number of public sector entities during their transition to accrual basis IPSAS Standards. In response to user feedback, the updated IPSAS 33 provides:
More user-friendly guidance to support the entity’s broader accrual transition journey;
Clearer relief provisions throughout the entire transition process; and
Reliefs that encourage earlier recognition and measurement of items, helping entities achieve IPSAS compliance as early as possible.
The newly published 2025 version of IPSAS 33 addresses these concerns while maintaining all existing reliefs that are available in the 2015 version.
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 Standards), IPSASB Sustainability Reporting Standards (IPSASB SRS™ Standards) and other high-quality financial reporting guidance for use by governments and other public sector entities. It also raises awareness of IPSAS Standards and IPSASB SRS Standards and promotes the adoption and implementation of these to enhance the quality and consistency of practice throughout the world and strengthen the transparency and accountability of public sector finances and sustainable development. The Board receives support from the Asian Development Bank, the Chartered Professional Accountants of Canada, the New Zealand External Reporting Board, the government of Canada, and The World Bank. 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.
About the Public Interest Committee The governance and standard-setting activities of the IPSASB are overseen by the Public Interest Committee (PIC), to ensure that they follow due process and reflect the public interest. The PIC is comprised of individuals with expertise in public sector or financial reporting, and professional engagement in organizations that have an interest in promoting high-quality and internationally comparable financial information.
