Assurance of Sustainability Reports

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In 2004, the International Accounting and Auditing Standards Board of the International Federation of Accountants (IFAC) released its revised International Framework for Assurance Engagements and International Standard for Assurance Engagements (ISAE 3000).

The Framework sets out the purpose and elements of all assurance engagements. It provides for two levels of assurance engagement – namely ‘reasonable assurance’ and ‘limited assurance’.  ISAE 3000 specifically governs non-financial information, providing guidance on assurance procedures.

(IFAC is the global organisation for the accountancy profession. It represents 2.5 million accountants from 157 members and associates in 123 countries. www.ifac.org)

And see the page on ghg emissions under Verifying GHG Emissions.

In 2003, the Institute of Social and Ethical AccountAbility (AccountAbility) issued AA1000 – Assurance Engagements. This voluntary standard is part of the AA 1000 Series of Standards which relates to the AA Framework. The Framework was launched in 1999 to address the need for organisations to establish a systematic accountability process involving stakeholders. AA1000 AS provides principles for how to conduct sustainability assurance.
(AccountAbility is a global, not-for-profit organization founded in 1995 to promote accountability innovations in sustainable development. It is a global network of business, public and civil institutions. www.accountability21.net)

The assurance of sustainability reports usually involves both ISAE 3000 and AA1000 AS. 
 
The Global Reporting Initiative (GRI) recommends that sustainability reports be externally assured.

The King III Report on Governance recommends that sustainability reporting and disclosure should have independent assurance.