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ACCA Strategic Professional · Advanced Audit and Assurance (International) · Other current issues

Zephyr plc, a listed manufacturer, has asked Marlow & Co to provide assurance on the greenhouse gas (GHG) emissions data in its sustainability report. Marlow & Co plans to apply ISAE 3410. Which statement best describes the nature of this standard?

ISAE 3410 is the IAASB assurance standard dealing specifically with engagements to report on an entity's greenhouse gas statement. It is not a replacement for ISA 700, nor a quality management or ethics standard, which are covered separately by ISQM 1 and the IESBA Code.

  1. AIt is an assurance standard dealing specifically with engagements to report on GHG statementsCorrect
  2. BIt is an auditing standard that replaces ISA 700 for listed entities reporting emissions
  3. CIt is a quality management standard for firms performing sustainability work
  4. DIt is an ethical standard setting independence rules for sustainability assurance

Explanation

ISAE 3410 Assurance Engagements on Greenhouse Gas Statements deals with assurance on an entity's GHG statement. It does not replace ISA 700, which covers financial statement audits, and it is not a quality management or ethics standard (ISQM 1 and the IESBA Code cover those).

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