Information sources There is detailed guidance relating to the assurance team, with particular emphasis
Risk assessments Risk assessment, including fraud, should be undertaken, although the requirements vary depending on whether the engagement is to provide limited or reasonable assurance. For example, in reasonable assurance engagements, more work is needed understanding the system of internal control. ISSA 5000 particularly notes the elevated risk of fraud in respect of “greenwashing”, which is another area we will explore. Evidence In terms of evidence, ISSA 5000 acknowledges that qualitative sustainability information and estimates and forward-looking sustainability information are potentially difficult areas in which to obtain evidence. The assurance practitioner needs to exercise significant professional judgement in evaluating what constitutes sufficient appropriate evidence in these circumstances.
on the relationship between the engagement team and “other practitioners”, and whether it is
appropriate to use the work of others. There is also recognition that information on which assurance is provided is often derived from sources up and down the value chain of the reporting entity. Materiality Materiality is a significant issue and it needs to be applied using a “bifurcated” approach. This means considering materiality for qualitative disclosures and determining materiality for quantitative disclosures. ISSA 5000 clarifies the concept of “double materiality”, which relates to how the entity identified topics to the reported and relevant boundaries, in addition to setting a materiality level.
SUSTAINABILITY ASSURANCE | THE KEY FEATURES OF ISSA 5000
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