Assurance of Sustainability Reporting in Ireland
In July 2024 the European Union (Corporate Sustainability Reporting) Regulations 2024 (CSRD) was signed into law, bringing effect to the requirements of the CSRD in Ireland.
In Ireland the CSRD regulations apply to certain large companies on a phased basis. In 2025 the first companies in scope of the regulations are publishing their reports.
On April 8th, the Institute published Technical Release TR 01/2025 Guidance on the Corporate Sustainability Reporting Directive (CSRD).
This covers the application of the CSRD in Ireland, including;
- An introduction to the CSRD
- Transposition of the CSRD in Ireland
- Scoping and timelines
TR 01/2025 covers the CSRD legislation as currently drafted in Ireland and is available to members by logging in to the Institute Technical Content section of the website.
We hope to update this publication with supplementary content in coming months.
On 26 February 2025, the European Commission published its package of proposals aimed at simplifying sustainability reporting rules across the European Commission (“Omnibus Package”). These proposals, if approved, will significantly change the timing and extent to which sustainability reporting rules will apply in Ireland. Following their publication, these proposals will enter trialogue negotiations between the European Parliament and the European Council where amendments may be made prior to its introduction. See here for more information.
Note this information is correct at 8 April 2025 for updates please check Chartered Accountants Ireland news.
Assurance standard
In 2024 the Irish Auditing and Accounting Supervisory Authority (IAASA) adopted ISAE (Ireland) 3000, Assurance Engagements Other Than Audits or Reviews of Historical Financial Information – Assurance of Sustainability Reporting in Ireland as the standard to be applied by auditors performing sustainability assurance engagements required by the CSRD.
This applies to assurance reports issued on or after 15 December 2024.
Who can undertake this assurance work
In Ireland only approved firms and Sustainability Assurance Service Providers (SASPs) can undertake sustainability assurance engagements under the CSRD. The updated Audit Regulations include the regulatory framework for individuals and firms undertaking this assurance work.
The application process is set out on the Professional Standards webpage.
Quality management
ISAE (Ireland) 3000 requires auditors to comply with ISQM (Ireland) 1, Quality Management for Firms that Perform Audits or Reviews of Financial Statements, or Other Assurance or Related Services Engagements and IAASA has updated ISQM (Ireland) 1 to reflect this.
Guidance
The following guidance documents have been issued to assist members undertaking this assurance work
- Sample engagement letter TA 02/2024 - Sample Engagement Letter Terms in respect to the provision of Limited Assurance under the Corporate Sustainability Reporting Directive (“CSRD’’)
- Sample assurance report TA 04/2024 - Sample CSRD Limited Assurance Report in accordance with ISAE (Ireland) 3000 as required by Section 1613 of the Companies Act 2014.
- Sample Management Representation letter TA 02/2025 – Illustrative Management Representation Letter in respect to the provision of Limited Assurance under the Corporate Sustainability Reporting Directive
Other useful links:
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