2023-03-08-ACCA-可持续性保证——迎接挑战（英）_40页_4mb

Summary of ACCA's Report on Sustainability Assurance

Core Content

ACCA's report explores the evolving landscape of sustainability assurance, emphasizing the growing importance of sustainability reporting and the role of the accounting profession in ensuring its credibility. The report highlights the need for ethical and quality management frameworks, competence in assurance and subject matter, and the challenges faced by practitioners in delivering effective sustainability assurance. It also outlines the key skills required and the future direction of sustainability assurance standards.

Main Points

1. ACCA Overview

• ACCA is a global professional body with over 241,000 members and 542,000 future members in 178 countries.
• It focuses on professional and ethical values, and supports the development of strategic business leaders with financial, business, and digital expertise.
• ACCA is a not-for-profit organization and has committed to the UN Sustainable Development Goals.

2. Sustainability Reporting Landscape

• Sustainability reporting is still in development, unlike financial reporting.
• There is no universally accepted definition of sustainability reporting, which typically includes environmental, social, and governance (ESG) matters.
• Global and regional efforts are underway to harmonize sustainability reporting standards, including the ISSB (International Sustainability Standards Board) and EFRAG (European Financial Reporting Advisory Group).

3. Corporate Sustainability Reporting Directive (CSRD)

• The CSRD, which entered into force on 5 January 2023, replaces the NFRD (Non-Financial Reporting Directive) and applies to approximately 50,000 companies, including listed SMEs.
• It introduces mandatory limited assurance for sustainability reporting and aims to move towards reasonable assurance.
• The CSRD is designed to combat greenwashing and establish global sustainability reporting standards.

4. International Auditing and Assurance Standards Board (IAASB)

• The IAASB is developing an overarching standard for sustainability assurance, titled ISSA 5000 (International Standard of Sustainability Assurance).
• This standard is profession-agnostic and consistent with ISAE 3000 (Revised).
• It aims to be responsive to public interest, suitable across all sustainability topics, and implementable by all assurance practitioners.

5. International Ethics Standards Board for Accountants (IESBA)

• The IESBA is working on ethics and independence standards for sustainability assurance.
• It has approved two projects: the Sustainability Project and the Experts Project, focusing on ethics provisions and the use of experts in sustainability assurance.

Key Challenges in Practice

• Practitioners face challenges in differentiating between limited and reasonable assurance, which may lead to an expectation gap.
• Greenwashing is a significant risk that needs to be addressed, similar to fraud in financial reporting.
• Estimates in sustainability assurance are often based on hypothetical future scenarios, requiring new conceptual approaches.
• There is a high dependence on subject matter experts, suggesting the need for additional guidance beyond current standards.
• Assurance reports are critical in enhancing credibility and should be a priority for standard setters.

Competencies and Skills

• Practitioners must possess assurance competence, which includes:
  • Professional skepticism and judgment
  • Planning and performing assurance engagements
  • Understanding internal control systems
  • Linking materiality and engagement risks to procedures
  • Applying appropriate procedures (e.g., inquiry, inspection, analytical procedures)
  • Systematic documentation and report-writing skills
• They also need subject matter competence, including knowledge of ESG topics and their measurement or evaluation.
• The core skills from financial audits remain essential for sustainability assurance.

Key Recommendations

• The IAASB and national standard setters should enhance communication around the differences between limited and reasonable assurance.
• The existing ISAE 3000 (Revised) and Sustainability/EER guidance provide a strong foundation for sustainability assurance until a new standard is finalized.
• Greenwashing and misleading reporting must be addressed with the same rigor as fraud in financial reporting.
• Estimates in sustainability assurance should be a future focus for standard setters.
• Assurance reports should be a key priority in improving the credibility of sustainability reporting.

Conclusion and Way Forward

• The accountancy profession is well positioned to meet the unprecedented demand for sustainability assurance.
• The development of global standards is essential to ensure consistency and comparability of sustainability reporting.
• ACCA encourages practitioners to engage with the current standards and guidance while also preparing for the evolving landscape of sustainability assurance.

Methodology and Disclaimer

• The report is based on virtual roundtables with global representation of assurance practitioners.
• It is not a substitute for the full ISAE 3000 (Revised) or Sustainability/EER guidance.
• ACCA disclaims liability for any reliance on the report's content.

References

• ACCA and University of Glasgow (2022): Companies' Readiness to Adopt IFRS S2 Climate-related Disclosures
• IAASB (2022a): ISAE 3000 (Revised)
• IAASB (2022b): Sustainability and other Extended External Reporting (EER) Guidance
• IESBA (2022a): Update on Sustainability Project
• ISSB (2022b): Exposure Drafts IFRS S1 and IFRS S2
• EC (2022a): Corporate Sustainability Reporting Directive (CSRD)
• EC (2023): Implementation of CSRD