Assurance on the integrated report is a hot topic internationally. The International Auditing and Assurance Standards Board (IAASB) looked at the issue. EER covers many different forms of reporting – integrated reporting, sustainability reporting, non-financial reporting on environmental, social and governance matters, and more.

IFAC and IIRC push for assurance

 The two international bodies support the acceleration of integrated reporting assurance in a thought leadership paper released in February 2021. The easy-to-read document explains the status quo, the difference between reasonable and limited assurance, and sets out the way forward.  To view the paper, click here.

Assurance guidance

The standard to use, for accountants and non-accountants, is the International Standard of Assurance Engagements (ISAE) 3000 (Revised) Assurance Engagements Other than Audits or Reviews of Historical Financial Information.

The standard was the focus of an Assurance Project looking at application that started in October 2017 and released a series of papers open for public comment (see below).

The IAASB’s EER Assurance Project

Extended External Reporting (EER) encapsulates many different forms of reporting including, but not limited to, integrated reporting, sustainability reporting and other reporting by entities about financial and non-financial matters, including environmental, social and governance matters, related to an entity’s activities.

On 13 March 2020, the IAASB issued its Public Consultation on Proposed Guidance, Extended External Reporting Assurance in order to promote consistent high-quality application of ISAE 3000 (Revised) Assurance Engagements Other than Audits or Reviews of Historical Financial Information so as to:

  • Strengthen the influence of EER assurance engagements on the quality of EER reports;
  • Enhance user trust in the resulting assurance reports; and
  • Engender greater confidence in the credibility of, trust in and reliance upon EER reports by their intended users.

The draft non-authoritative guidance addresses the Special Considerations in Performing Assurance Engagements on Extended External Reporting, and was open for public comment until 13 July 2020. The Guidance is expected in March 2021.


Related documents and links: