Minor amendments to ASSA 5000 General Requirements for Sustainability Assurance Engagements

Wednesday, June 4, 2025

On 28 January 2025 the AUASB approved ASSA 5000 effective for assurance engagements on sustainability information reported for periods beginning on or after 1 January 2025 or as at a specific date on or after 1 January 2025.

Consistent with the IAASB’s ISSA 5000, ASSA 5000 required compliance with the new Part 5 of the IESBA Code of Ethics. Part 5 contains enhanced ethical requirements for sustainability assurance over public interest entity general purpose reports.

The Accounting Professional Ethical Standards Board Limited (APESB) has consulted on a proposal to update APES 110 Code of Ethics for Professional Accountants (including Independence Standards) to include the new Part 5 effective 1 January 2026.

Amendments to ASSA 5000

Following public consultation, the AUASB decided in May 2025 to amend ASSA 5000 to address practical implementation matters.

The amendments were made:

1. Ethics - To address possible practical matters arising on the initial application of Part 5 and to provide audit firms adequate time to update their internal independence monitoring systems; and
2. Effective date - To provide more time for audit firms to update methodologies for ASSA 5000 by deferring its application for ‘as at a specific date information to 31 December 2025.

Detailed amendments

Specifically, ASSA 5000 was amended as follows:

1. Ethics – Applying the current APES 110 instead of Parts 1 to 3 of APES 110 and Part 5 of the IESBA Code.
2. Effective date – Assurance engagements on sustainability information reported. 

(i) For information in a Corporations Act 2001 sustainability report - For periods beginning on or after 1 January 2025 and as at the end of that period; and

(ii) For other engagements - As at a specific date on or after 31 December 2025 and for periods then ending but not commencing before 1 January 2025.

The AUASB will consider adopting any revised APES 110 that includes the new Part 5 from the APESB’s effective date.