According to a report by Accounting Today, the International Auditing and Assurance Standards Board (IAASB) and the International Ethics Standards Board for Accountants (IESBA) recently launched their sustainability assurance, designed to elevate sustainability reporting and assurance practices.

These standards—ISSA 5000 and IESSA—aim to provide clear guidelines for ethical conduct and technical assurance, ensuring the credibility of sustainability disclosures and fostering trust among stakeholders.

“The interoperable package of ISSA 5000 and IESSA represents an important evolution in global sustainability reporting and assurance,” says Tom Seidenstein, chair of the IAASB. “These standards establish the necessary technical and ethical pillars to ensure that qualified practitioners could consistently perform high-quality assurance engagements on sustainability information.”

ISSA 5000 establishes a comprehensive framework for conducting sustainability assurance engagements, emphasizing transparency and reliability. It adapts to diverse global contexts, allowing application across various sustainability reporting frameworks, including those from the International Sustainability Standards Board.

Meanwhile, IESSA outlines ethical principles and independence requirements for practitioners, mitigating risks like greenwashing and noncompliance with laws and regulations. Additionally, a companion standard provides guidance for engaging external experts, ensuring their competence and objectivity.

Globally, the standards aim to meet market and regulatory demands, offering a cohesive baseline to address the growing need for assured sustainability data. They are expected to be effective by December 2026, with early adoption encouraged. IAASB and IESBA will support implementation through webinars, guides and feedback mechanisms.

Despite political challenges in jurisdictions like the U.S., the standards set a significant precedent. By aligning ethical practices with robust assurance methodologies, these standards aim to enhance accountability, support investor decision-making, and promote environmental and social responsibility across industries worldwide, according to Reuters.