On Jun. 10, the International Ethics Standards Board for Accountants (IESBA) and the International Auditing and Assurance Standards Board (IAASB) have formed technical expert groups in support of effective global implementation of their boards’ sustainability standards.
Group members would be contributing their expertise as well as hands-on experience in applying the IESSA and ISSA 5000 standards.
The groups will offer timely and practice-informed feedback while helping create implementation resources that the IESBA and IAASB might commission to enhance the consistent worldwide application.
The recent formation of both expert implementation groups will "play important roles in supporting the effective implementation and application of the boards’ recently released global sustainability standard," the boards said.
The IESBA’s IESSA Implementation Monitoring Advisory Group (IIMAG) will support the International Ethics Standards for Sustainability Assurance's implementation (including International Independence Standards). It would also support revisions to the IESBA code for sustainability reporting.
The IAASB’s ISSA 5000 Technical Implementation Contact Group (TICG) will support implementation of the International Standard on Sustainability Assurance (ISSA 5000).
Each group makes up a diverse and globally representative group of professionals who are very familiar with the standards and direct involvement in implementation-related activities. The IIMAG and TICG will give regular feedback to the boards in order to ensure that emerging issues related to the implementation of the standards are identified and addressed in a timely manner, and that implementation support resources stay relevant and practical.
These groups will contribute to IESBA and IAASB initiatives to support stakeholders’ adoption and implementation of IESSA and ISSA 5000 thus building trust in sustainability information and advancing high-quality assurance practices globally.