The International Auditing and Assurance
Standards Board (IAASB) has released a new international standard
to “strengthen” reporting of greenhouse gases.
The standard ‘Assurance Engagements on
Greenhouse Gas Statements ISAE 3410’ is designed to addresses
responsibilities in identifying, assessing and responding to risks
of material misstatement containing illustrative assurance reports
on greenhouse gas statements.
“It is becoming more common to include
detailed emissions information in company sustainability reports.
Providing assurance to enhance the reliability of information for
regulatory and voluntary reporting is also important,” IAASB
chairman Arnold Schilder said.
“The proposed standard covers both ‘reasonable
assurance’ and ‘limited assurance’ engagements for both of which
demand is increasingly evident in the marketplace,” said IAASB
Technical Director, James Gunn.
The proposed requirements and guidance also
recognise the need for the assurance practitioner to integrate
experts into various stages of the engagement.
ISAE 3410 was developed through a series of
consultations, global roundtables and feedback from a previous
consultation paper, the IAASB said.