Sustainability Reporting Assurance
This page is your simple guide to understanding the standards that underpin assurance in sustainability reporting.
What is sustainability reporting assurance?
Like assurance on financial information (e.g., financial statements), sustainability assurance involves an independent third-party performing procedures to verify the reliability and credibility of an organization’s sustainability information and to report on the information. Assurance providers provide either reasonable or limited assurance opinions on sustainability information.
Why is assurance of sustainability information important?
External assurance is important to enhance trust and confidence in sustainability reporting. External assurance can also help organizations improve their reporting processes, data management and accountability.
What sustainability assurance standards exist?
In November 2024, the International Auditing and Assurance Standards Board (IAASB) released an assurance standard specific to sustainability, International Standard on Sustainability Assurance (ISSA) 5000, General Requirements for Sustainability Assurance Engagements.
The Canadian equivalent to ISSA 5000 is the proposed Canadian Standard on Sustainability Assurance (CSSA) 5000. It is based on ISSA 5000 with amendments considered appropriate for the Canadian market. However, the proposed CSSA 5000 is not yet finalised.
In the meantime, there are other Canadian assurance standards that can be used to provide assurance on sustainability information:
- Canadian Standard on Assurance Engagements (CSAE) 3000, Attestation Engagement other than Audits and Reviews of Historical Financial Information
- CSAE 3410, Assurance Engagements on Greenhouse Gas Statements are available for use on sustainability information