In response to organizations that are increasingly reporting about their broader performance or impact either voluntarily or as required by law or regulation, and to a growing demand for assurance engagements on such reporting, the IAASB has developed for feedback its non-authoritative EER Guidance.
“Extended external reporting and the role it has to play will only continue to grow in importance,” said Tom Seidenstein, Chair of the IAASB. “It’s a very exciting time for the IAASB as the work we’re undertaking today to develop international assurance guidance for non-financial information in the form of EER will, we believe, pave the way for much greater engagement and consistency in this area. We welcome and encourage all feedback during our comment period, which runs through July 13, and look forward to learning from the comments we receive.”
EER encapsulates many different forms of reporting including, but not limited to, integrated reporting, sustainability reporting and other reporting by entities about financial and non-financial matters, including environmental, social and governance matters, related to an entity’s activities.
The purpose of the IAASB’s Public Consultation on Proposed Guidance, Extended External Reporting Assurance is to promote consistent high-quality application of ISAE 3000 (Revised) Assurance Engagements Other than Audits or Reviews of Historical Financial Information so as to:
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Strengthen the influence of EER assurance engagements on the quality of EER reports;
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Enhance user trust in the resulting assurance reports; and
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Engender greater confidence in the credibility of, trust in and reliance upon EER reports by their intended users.
Full press release on IAASB
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