Assurance: an introduction
Members of the accountancy profession are well placed to provide assurance on a wide range of financial matters as we are trained in analysing and evaluating the systems and processes that drive disclosure of financial information. We are used to obtaining evidence and providing an opinion or conclusion on qualitative and quantitative financial disclosures. The same skills can be applied to other disclosures, including those relating to sustainability. Organisations now report on a wide range of non-financial matters, including those relating to the environment like carbon footprint and biodiversity, social issues such as human rights, equality and education, and wider impacts, e.g. on local communities. They are increasingly seeking to obtain assurance on the completeness, accuracy and relevance of these disclosures.
The incoming regulations will help assurance providers who are working on sustainability information, as well as considering some of the ethical issues that are relevant, examining the proposed ISSA 5000 and the International Auditing and Assurance Standards Board’s International Framework for Assurance Engagements amongst other useful regulations. There are challenges in undertaking such engagements, but there are still steps that the assurance provider can take to mitigate any obstructions.
Accountants’ skills can easily be applied to other disclosures such as sustainability.
SUSTAINABILITY ASSURANCE | ASSURANCE: AN INTRODUCTION
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