HAVE YOUR SAY: AUASB Roundtables on Sustainability Assurance Matters

Tuesday, September 24, 2024

The AUASB invites auditors, experts, users and preparers to attend a Roundtable discussion on: 

• The AUASB Exposure Draft of a Proposed Australian Standard on Sustainability Assurance ASSA 5010 Timeline for Audits and Reviews of Information in Sustainability Reports under the Corporations Act 2001 (ED 02/24) that outlines a proposed timeline for when information in a Sustainability Report prepared in accordance with Chapter 2M of the Corporations Act 2001 would be subject to audit and/or review (assurance phasing model); and 
• The AUASB Consultation Paper on a proposed amendment to ISSA 5000 General Requirements for Sustainability Assurance Engagements in Australia to prohibit direct assistance provided by internal auditors in sustainability assurance engagements, consistent with the existing prohibition for financial report audits.  

These Roundtables are intended to assist the AUASB in understanding: 

• Whether the proposed assurance phasing model appropriately responds to user demand, expected entity preparedness for assurance, and the expected ability of auditors and their experts to meet the demand for assurance; and 
• The appropriateness of the proposed prohibition on auditors using direct assistance from internal auditors and the timing of any prohibition having regard to matters such as independence considerations, interconnectivity of information with the financial report, the availability of sustainability assurance resources and other demands on internal auditors (e.g. for work on operational efficiency). 

The AUASB is committed to conducting extensive outreach to ensure broad stakeholder input and the Roundtables are a key element of this outreach. The AUASB kindly requests that roundtable attendees prepare for active participation by reviewing the Exposure Draft and Consultation Paper in detail and carefully considering the questions to which the AUASB is seeking responses.

Early registration is encouraged as spaces are limited. 

Register your attendance at a Roundtable by following the relevant link in the table below: 

Written submissions 

Input from these Roundtables comprises one aspect of the AUASB’s broader information-gathering activities related to sustainability assurance matters that will be considered in determining possible future actions. In addition to attending, the AUASB encourages stakeholders to submit written comment letters on the Exposure Draft and Consultation Paper via the AUASB website.  

Deadlines for written submissions: 

• 16 November 2024 – Exposure Draft on proposed assurance phasing model (ED 02/24)  
• 1 December 2024 – Consultation Paper on the proposed prohibition of direct assistance from internal auditors in sustainability assurance engagements