The International Auditing and Assurance Standards Board (IAASB) and the International Ethics Standards Board for Accountants (IESBA) today launched an integrated effort to support effective implementation of their landmark standards aimed at advancing trust and transparency in sustainability reporting and assurance.

Taken together, the IAASB and IESBA sustainability-related standards, as well as the new IESBA standard on using the work of experts, provide a unified global approach to address the growing demand for trustworthy sustainability information to support stakeholder decisions.

These standards establish clear expectations for ethical behavior in sustainability reporting and assurance and provide more specific requirements for practitioners and organizations in relation to assurance engagements on sustainability information. The IAASB’s ISSA 5000 and the IESBA’s IESSA share five common goals:

• Equipping global markets with a cohesive package of standards. After robust and close coordination, the IAASB and IESBA developed comprehensive, interoperable global standards for assurance, ethics, and independence for sustainability assurance engagements.
• Offering a global baseline and leveling the playing field by meeting market demands and regulatory calls and expectations for profession-agnostic global standards.
• Providing a framework-neutral approach that allows ISSA 5000 and IESSA to be applied in relation to sustainability information prepared under any suitable sustainability reporting framework.
• Promoting informed decision-making based on trust and independently assured sustainability information.
• Mitigating risks of fraud, including greenwashing, and non-compliance with laws and regulations.

A Unified Vision for Sustainability Reporting

“The interoperable package of ISSA 5000 and IESSA represents an important evolution in global sustainability reporting and assurance,” said Tom Seidenstein, Chair of the IAASB. “These standards establish the necessary technical and ethical pillars to ensure that qualified practitioners could consistently perform high-quality assurance engagements on sustainability information.”

Gabriela Figueiredo Dias, Chair of the IESBA, added, “Ethics is the foundation of trust. With these standards, we are equipping preparers and practitioners with the tools needed to uphold integrity and foster transparency in sustainability reporting. Together, the IAASB and IESBA are setting a global standard for accountability and professionalism.”

Effective Dates and Next Steps

In jurisdictions adopting the standards, both ISSA 5000 and IESSA become effective for periods starting on or after December 15, 2026, with early adoption permitted and encouraged. The IAASB and IESBA will provide ongoing support through webinars, implementation guidance, and continued implementation monitoring and feedback channels to ensure smooth and effective adoption.

Stay updated by following IAASB and IESBA on LinkedIn or registering and subscribing to receive announcements directly in your inbox. For more information, visit the joint IAASB and IESBA web page: www.ethicsandaudit.org/TrustInSustainability

ADDITIONAL INFORMATION

IAASB’s ISSA 5000: A Framework for Credible Sustainability Assurance

International Standard on Sustainability Assurance 5000 (ISSA 5000) provides a principles-based framework for conducting assurance engagements on sustainability information reported by entities. The standard is designed to:

• Enhance Reliability and Transparency: Focused on enhancing the credibility of sustainability information reported, ISSA 5000 addresses the growing need for assured sustainability information among investors, regulators, and stakeholders.
• Adapt to Global and Local Contexts: The standard is scalable and adaptable to regional regulatory requirements, such as the EU’s Corporate Sustainability Reporting Directive (CSRD), and can be used with any sustainability reporting framework, standard or other suitable criteria.
• Support Diverse Practitioners: Applicable to all assurance providers, ISSA 5000 ensures consistency and rigor, incorporating materiality concepts and proportionality for organizations of all sizes.

To support practitioners, the IAASB has released new guidance today, including an implementation guide, fact sheet, FAQs, and FAQ video series, and will hold a webinar series in the coming months.

IESBA’s Global Ethics Sustainability Standards: A Foundation for Ethical Mindset and Trust

The International Ethics Standards for Sustainability Assurance (including International Independence Standards (IESSA), the provisions related to sustainability reporting, and the new standards addressing using the work of an external expert in the International Code of Ethics for Professional Accountants (including International Independence Standards), establish a strong ethical foundation for sustainability reporting and assurance engagements. The standards are grounded in the fundamental ethical principles for reporting and assurance that underpin the provision of high-quality sustainability information by:

• Offering a coherent ethical infrastructure for sustainability reporting and assurance that is fit-for-purpose. The standards specifically address challenges inherent to sustainability information, such as the use of immature data and systems, and the forward-looking nature of the information.
• Mitigating unethical conduct, including greenwashing risks, particularly by raising awareness of ethical threats and helping practitioners address challenges such as: non-compliance with laws and regulations^TM (NOCLAR^®); pressure to act unethically; independence issues; and ethical risks relating to using the work of external experts.
• Enhancing investor protection and building trust in sustainability information by aligning best ethical practices among all practitioners.
• Promoting judgments and decision-making that help prevent reputational risks, foster an ethical mindset, and attract skilled and purpose-driven professionals.

Alongside today’s published standards, the IESBA has released Basis for Conclusions documents, fact sheets and technical overviews on the standards. Additional implementation support material and activities, including a series of webinars (see below) and implementation guides, will follow in the near future.

Upcoming IESBA Webinars 

To help stakeholders understand and use the new standards, the IESBA is holding a series of webinars at various times to accommodate a global audience. 

• IESBA Sustainability-related Ethics and Independence Standards 
  • IESBA Sustainability Overview and Sustainability Reporting 
    • February 18 at 14.00 UTC (9.00am ET)
    • February 26 at 01.00 UTC (8.00pm ET February 25)
  • Key Topics in the IESSA 
    • February 19 at 14.00 UTC (9.00am ET)
    • February 27 at 00.00 UTC (7.00pm ET February 26)
  • IESSA Independence Standards: A Deep Dive 
    • February 20 at 13.00 UTC (8.00am ET)
    • February 28 at 00.00 UTC (7.00pm February 27)
• Using the Work of an External Expert
  • March 3 at 23.00 UTC (6.00pm ET) 
  • March 4 at 13.00 UTC (8.00am ET) 

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.

For copyright, trademark, and permissions information, please visit Permissions.

On behalf of the IAASB, Happy New Year to all. The IAASB closed out a productive 2024 by approving ISA 570 (Revised), Going Concern closely following the September 2024 approval of ISSA 5000, General Requirements for Sustainability Assurance Engagements. It is natural for our stakeholders to want to know what the IAASB plans to do in 2025. Our strategy document, Elevating Trust in Audit and Assurance, provides clear guidance.

For 2025, from a standard-setting standpoint, we are translating the strategy into three leading tasks:

1. Finish what we have started.
2. Give the market time and support to ensure high-quality implementation.
3. Increase our focus on technology to enhance audit and assurance quality.

Finish what we have started. By the end of the first half of 2025, the IAASB will complete its projects on Fraud and the second phase of our IESBA convergence work on Listed and Public Interest Entities. The IAASB intends to approve revisions to the Fraud standard in March and will undertake a consultation and outreach on Listed and Public Entities in Q1 to permit June 2025 approval. With the finalization of these projects, an important phase of our 2024-2027 work plan ends.

Give the market time and support to ensure high-quality implementation. In recent years, IAASB major initiatives included ISA 315 (Revised 2019), the quality management suite of standards (ISQMs 1 and 2, and ISA 220 (Revised), group audits (ISA 600 (Revised), the ISA for Audits of Financial Statements of Less Complex Entities, ISSA 5000, and going concern (ISA 570 (Revised 2024). With the addition of the standards we anticipate finalizing in the first half of 2025, our focus will turn to supporting implementation of these standards, allowing time for their effective adoption, and beginning to assess their effectiveness through post-implementation reviews. For example, jointly with IESBA, we will be launching comprehensive implementation support plans for our sustainability standards at the end of January.

Increase our focus on technology to enhance audit and assurance quality. As our work plan transitions, there will necessarily be a period of calm in terms of new standards coming into effect.  However, we will not slow our work on key public interest topics. In September, the IAASB approved a new Technology Position and “committed to actively facilitating and, where appropriate, encouraging the appropriate use of technology.” While technology is not the sole driver, a dedicated focus on technology will be a priority over the next three years. Our recent project proposal to revise our Audit Evidence and Risk Response standards, scheduled to be completed in early 2027, highlights this commitment. We will be updating our project timelines shortly to reflect the technology priority.

The IAASB has emphasized the value of stakeholder engagement and has deepened outreach over recent years. As we pursue the three actions above, expect this level of outreach to continue.

Xiaoyue Sun became a member of the IAASB in January 2025. She was nominated by the Transnational Auditors Committee.

Ms. Sun is currently a partner and Head of Audit Technical Group of BDO China. She is a member of BDO's Audit Leadership Committee and Audit Quality Committee. She has 29 years' experience as an audit practitioner, including 5 years with BDO and 24 years with PwC.

Ms. Sun was qualified as a Chinese Certified Public Accountant in 1997. She is a member of China's Auditing Standards Board. She holds a Bachelor of Commerce in International Accounting from Shanghai International Studies University.

Amaro Gomes joined the IAASB in January 2025, nominated by the Instituto dos Auditores Independentes do Brasil (IBRACON) and Conselho Federal de Contabilidade (CFC).

Mr. Gomes is an independent consultant and member of the audit committee at Banco Bradesco (Brazil). He was previously the Brazilian Secretary of State for Coordination and Governance of Federal State-Owned Enterprises (2020-2021). He also served as a Board Member with the International Accounting Standards Board (2009-2019); as the Head of the Financial System Regulation Department (2004-2009) at the Central Bank of Brazil (where he joined in1992);  and as independent auditor with PwC (1986-1992).

Mr. Gomes is a CPA and earned his MA in Accounting and Finance in 1998 at Lancaster University (UK). He was awarded the Honor of Merit in 2022 by Universidade de Brasilia - UnB, where he earned his accounting baccalaureate in 1985, and the Alumni Outstanding Achievement for Graduate by Lancaster University in 2017.

Nancy Cheng was appointed to the International Auditing and Assurance Standards Board (IAASB) in January 2025. She was nominated by the Chartered Professional Accountants of Canada (CPA Canada).

Ms. Cheng is currently the Board Chair of icddr,b, an international non-profit public health research institution based in Bangladesh. She is the Audit Committee Chair of Shared Services Canada and an Audit Committee member of Public Safety Canada, two departments in the Government of Canada. She also serves on the Board of CARE Canada.

Prior to her retirement, Ms. Cheng was an Assistant Auditor General at the Office of the Auditor General of Canada, a senior practitioner in financial and performance auditing with over 30 years of experience. She was a member of the Canadian Auditing and Assurance Standards Board (AASB). She has served as its Vice-Chair and Chair of the AASB Steering Committee.

Ms. Cheng is a Fellow Canadian Chartered Professional Accountant, Fellow Chartered Accountant (FCPA, FCA). She is a member of CPA Canada and the Chartered Professional Accountants of Ontario (CPA Ontario) as well as a member of the Financial Executives International Canada (FEI Canada) and the Institute of Corporate Directors (ICD).

Ms. Cheng studied Commerce at Carleton University (Canada).

Mikiko Ono became a member of the International Auditing and Assurance Standards Board (IAASB) in January 2025.

She is currently a Director of Sustainability Disclosure Regulations and Investor & Stakeholder Engagement at Recruit Holdings Co., Ltd. Since joining the company as London Representative in Investor Relations in 2017, Ms. Ono has spearheaded engagement with global investors and sustainability disclosure practices mainly for capital markets by integrating financial and non-financial information. She also leads a company-wide sustainability disclosure project, collaborating closely with assurance professionals and colleagues across the globe to secure sustainability assurance for consolidated information, aligning with international disclosure standards.

Prior to her role at Recruit Holdings, Ms. Ono held various roles at major listed telecommunications companies in Japan. Her responsibilities spanned investor relations, international mergers and acquisitions, governance, and monitoring of investees, as well as marketing roles in both Japan and France.

Ms. Ono also served as a Technical Reference Member for the International Sustainability Standards Board (ISSB) of the IFRS Foundation from 2022 to 2023. She is also a Certified Member Analyst of the Securities Analysts Association of Japan (CMA). She earned a Bachelor of Arts degree from the University of Tokyo.

Svetlana Berger, CPA, CA, is an Associate Director with the Canadian Auditing and Assurance Standards Board (AASB). In her role, she leads efforts to support the Board's planning, prioritizing and execution of initiatives, including the development and issuance of auditing, assurance, and related services standards.

Ms. Berger has over 15 years of experience in standard setting. Before joining the AASB, she held leadership roles at IBM Canada and was a part-time university instructor. Her career began at PwC LLP in Toronto.

Ms. Berger holds an undergraduate degree and Master of Accounting degree from the University of Waterloo (Canada). She is a member of CPA Canada and the Chartered Professional Accountants of Ontario.

It is with profound sadness that IFEA announces the passing of Imran Vanker, a valued member of the IFEA family. We extend our deepest condolences to his family and friends following the tragic and sudden loss of Imran and his daughter yesterday. Our hearts go out to their loved ones during this unimaginable time.

Imran was a member of the IAASB from 2016 to 2021 and, through his work at the Independent Regulatory Board for Auditors (IRBA) in South Africa, remained an esteemed colleague and member of the IAASB community. His passing, alongside that of his daughter, leaves an irreplaceable void.

Imran was a staunch supporter of IESBA, actively participating as a member of the IESBA-National Standard Setters liaison group. His commitment to ethical behavior was demonstrated through his inspiration and significant contributions during his years of service. 

“Imran will be remembered not only for his many contributions to the audit profession but also for the warmth and goodwill he brought to all IAASB discussions. Imran had a passion for serving the public interest, one that will be hard to replicate,” said Tom Seidenstein, IAASB Chair.

‘’Imran was a friend of the IESBA and a passionate advocate for ethics and integrity in the accounting profession. Imran’s legacy of ethical leadership will continue to guide us, and his memory will remain a source of inspiration for all who strive to uphold the highest standards in our work,” said Gabriela Figueiredo Dias, IESBA Chair.

As an organization, we share in the sorrow of this loss and are keeping the Vanker family in our thoughts. We will continue to honor their memory during this difficult time.

 This is a narrow scope maintenance of standards project to consider targeted amendments to IAASB standards arising from recently approved revisions to the International Ethics Standards Board for Accountants’ (IESBA) International Code of Ethics for Professional Accountants (including International Independence Standards) (IESBA Code) related to using the work of an external expert