The CAQ is pleased to share our views related to the IAASB’s Proposed International Standard on Sustainability Assurance 5000, General Requirements for Sustainability Assurance Engagements. The CAQ is supportive of the IAASB’s efforts to develop a comprehensive, stand-alone standard suitable for any sustainability assurance engagements in order to enhance the trust and confidence of investors, regulators and other stakeholders in sustainability information. Among other matters, our comment letter:
- Highlights the need for oversight and enforcement of compliance by assurance practitioners with relevant ethical requirements and quality management standards required by ISSA 5000
- Provides recommendations on how to strengthen the concept of “at least as demanding” in relation to both the relevant ethical requirements for assurance engagements and in relation to ISQM 1 regarding a firm’s responsibility for its system of quality management
- Recommends that the IAASB encourage jurisdictions to establish minimum competency and experience requirements for assurance practitioners and
- Encourages coordination and alignment between the work of the IAASB and IESBA
Read the full comment letter here.