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ACCA Strategic Professional · Advanced Audit and Assurance (International) · Developments in sustainability assurance

Zephyr Foods plc asks its audit firm to provide assurance on the greenhouse gas (GHG) emissions figures in its sustainability report. The engagement partner proposes to follow ISSA 5000 General Requirements for Sustainability Assurance Engagements. Which statement about the scope of ISSA 5000 is correct?

ISSA 5000 is a framework-neutral, profession-agnostic standard covering both limited and reasonable assurance on sustainability information. It can be used by accountants and other practitioners, is not tied to ISSB reporting, and does not replace ISA 700 for financial statement audits.

  1. AIt is a framework-neutral standard applicable to both limited and reasonable assurance on sustainability information, and can be used by professional accountants and other assurance practitionersCorrect
  2. BIt applies only to reasonable assurance engagements on GHG emissions and cannot be used for limited assurance
  3. CIt applies only to professional accountants in public practice and replaces ISA 700 for the audit of financial statements
  4. DIt can be used only where the sustainability information has been prepared under ISSB Standards

Explanation

ISSA 5000 is a profession-agnostic, framework-neutral standard covering both limited and reasonable assurance on sustainability information. It is not restricted to one reporting framework such as ISSB, nor does it replace the ISAs for financial statement audits. The other options wrongly limit its scope.

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