Month: December 2023

The International Auditing and Assurance Standards Board issued an exposure draft of General Requirements for Sustainability Assurance Engagements – International Standard on Sustainability Assurance (ISSA) 5000, inviting comments by December 1, 2023.  Douglas Hileman Consulting LLC (DHC) submitted comments, with two topics of interest to preparers and users of these reports. 

Why the push for assurance standards?          Sustainability reports have been around for over 25 years. Sustainability factors affect companies’ prospects for obtaining capital, delivering financial performance, as well as their effect on the environment and society.  They have matured over the years.  Even so, the scope, content, metrics, and rigor leave much to be desired by users – notably investors.  Some regulations, including the EU’s Sustainability Reporting Standards (ESRS) and California’s SB 253 (disclosure of greenhouse gas emissions) will require external assurance within a few years.  Read More