• Joint FAQs from IAASB and IESBA Staff support interoperability and consistent application of ISSA 5000 and IESSA
• IESBA Staff Q&As explain key aspects of IESSA to support effective implementation of the ethics and independence standards for sustainability assurance engagements
• Resources help stakeholders implement the new global sustainability standards with clarity and confidence

The Staffs of the International Auditing and Assurance Standards Board (IAASB) and the International Ethics Standards Board for Accountants (IESBA) today released two new publications to support implementation of the IAASB’s and IESBA’s global sustainability-related standards: the International Standard on Sustainability Assurance (ISSA) 5000 and the International Ethics Standards for Sustainability Assurance (IESSA).

Developed in close coordination and launched in January 2025, ISSA 5000 and IESSA provide a coordinated global assurance and ethics framework for sustainability assurance engagements. The new publications aim to highlight the interoperability of the two Boards’ standards and to assist practitioners in the consistent application of the standards.

Frequently Asked Questions (FAQs) on Sustainability Assurance Engagements

These FAQs issued jointly by IAASB and IESBA Staff address practical questions about applying ISSA 5000 and IESSA together. They address the following areas:

• Identifying relevant ethical requirements
• Determining group and value chain components
• Using the work of another practitioner
• Addressing IESSA disclosure requirements in the assurance report

IESBA Staff Q&As on IESSA

The IESBA Staff Questions and Answers publication focuses on ethics and independence considerations for practitioners performing sustainability assurance engagements.

Topics covered include:

• The scope of the ethics and independence standards in IESSA
• Independence considerations for group sustainability assurance engagements, including value chain components
• Independence considerations applicable to using the work of another practitioner
• Providing non-assurance services to a sustainability assurance client
• Effective date of the IESSA

The joint IAASB and IESBA Staff FAQs are available on both the IAASB and IESBA websites; the IESBA Staff Q&A publication is available on the IESBA website. For more information, visit www.ethicsandaudit.org/TrustInSustainability.

About IAASB and IESBA
The International Auditing and Assurance Standards Board^© and the International Ethics Standards Board for Accountants^© are part of the International Foundation for Ethics and Audit (IFEA) ^©, a nonprofit organization that supports high-quality, international ethics, audit, and assurance standards in the public interest. The IAASB and IESBA develop and issue their standards independently and in accordance with an approved due process and the Public Interest Framework, overseen by the Public Interest Oversight Board.

The IAASB develops auditing, assurance, related services, and quality management standards and guidance in the public interest that support consistent performance of quality engagements.

The IESBA is an independent global standard-setting board. The IESBA’s mission is to serve the public interest by setting high-quality, international ethics (including independence) standards as a cornerstone to ethical behavior in business and organizations, and to public trust in financial and non-financial information that is fundamental to the proper functioning and sustainability of organizations, financial markets and economies worldwide.

The International Foundation for Ethics and Audit (IFEA) is now accepting applications for its 2025 Staff Fellows Program—a unique opportunity for accomplished professionals to work with the International Auditing and Assurance Standards Board (IAASB) or the International Ethics Standards Board for Accountants (IESBA) on a temporary, seconded basis.

Staff Fellows are seconded from their current employer to work alongside IAASB or IESBA staff on a variety of international standard-setting projects, including research and analysis, drafting, project management, and global stakeholder engagement. Fellowships typically begin in September and last from six months to two years.

The program offers numerous benefits to both Fellows and their sponsoring organizations, including strengthened global networks, enhanced knowledge of international standards, and valuable professional development. Relocation to New York is encouraged but not required.

IFEA welcomes applications from professionals with a proven track record, technical expertise, and a collaborative mindset. Interviews for the 2025 cohort will take place in June and July. Interested organizations should submit candidate CVs to ifeahumancapital@ethicsandaudit.org by July 31, 2025.

Learn more about the program and current and alumni Fellows on the IFEA website here.

Expected publication Date: TBD

The International Auditing and Assurance Standards Board (IAASB) has published a new Frequently Asked Questions (FAQ) document to support stakeholders as they implement International Standard on Auditing 570 (Revised 2024), Going Concern.

The FAQ document addresses key questions on the enhanced auditor reporting model for going concern that is included in the revised standard. Specifically, it focuses on the implications for the auditor’s report when reporting entity specific going concern matters in a section titled ‘Going Concern’ or ‘Material Uncertainty Related to Going Concern.’ It also provides an illustrative example of an auditor’s report that provides a description of how the auditor evaluated management’s assessment of going concern.

Background on ISA 570 (Revised 2024), Going Concern

Published in April, ISA 570 (Revised 2024) introduced several key changes to strengthen the auditor’s work in evaluating management’s assessment of going concern. These include:

• More robust risk assessment procedures that support auditors in determining, on a timely basis, whether events or conditions have been identified that may cast significant doubt on the entity’s ability to continue as a going concern.
• Enhanced evaluation of management’s assessment of going concern, including the significant judgments on which such evaluation is based.
• Required evaluation of management’s assessment of going concern that covers a period of at least twelve months from the date of approval of the financial statements.
• Reinforced communications and increased transparency in reporting going concern matters.

This FAQ does not amend or override ISA 570 (Revised 2024); the text of the standard remains authoritative. The FAQ is not exhaustive and is intended to complement the standard, which takes effect on or after December 15, 2026.

This Frequently Asked Questions (FAQ) document is designed to help stakeholders implement International Standard on Auditing 570 (Revised 2024), Going Concern. It addresses key questions on the enhanced auditor reporting model for going concern that is included in the revised ISA 570.