Australian Government
Auditing and Assurance Standards Board
Tuesday, September 17, 2024
The AUASB has released a Consultation Paper seeking public comment on the proposed prohibition of direct assistance provided by internal auditors in sustainability assurance, consistent with the existing prohibition for financial report audits.
The current draft of IAASB’s Proposed ISSA 5000 General Requirements for Sustainability Assurance Engagements allows sustainability assurance practitioners to use internal auditors to provide direct assistance. However, the use of internal auditors to provide direct assistance is prohibited in an audit or review of a financial report conducted in accordance with Australian Auditing Standards. A prohibition for sustainability assurance engagements in Australia would be intended to promote confidence in the quality of the sustainability information, supported by the quality of the independent audit.
The AUASB invites stakeholders to comment on all or some of the questions contained in the AUASB Consultation Paper by 1 December 2024 via the AUASB website. The AUASB will hold outreach activities on this topic in the near future, watch this space for more details. Any queries about the Consultation Paper and the AUASB’s associated outreach activities should be directed to [email protected].