IFAC has released its Vision for High-Quality Sustainability Assurance, in which it describes sustainability-related disclosure as "finally taking its rightful place within the corporate reporting ecosystem, through global and jurisdiction-specific initiatives".
In order to be trusted, sustainability disclosure must be subject to high-quality, independent, external assurance. This vision addresses the importance of global standards, regulation that supports decision-useful disclosure, and the value of an interconnected approach to sustainability and financial information reporting and assurance.
IFAC explored these issues further in a video The State of Play in Sustainability Assurance – in which IFAC staff detail the global benchmarking study that captures and analyzes the extent to which companies are reporting and obtaining assurance over their sustainability disclosures, which assurance standards are being used, and which companies are providing the assurance service.
About IFAC
IFAC is the global organization for the accountancy profession dedicated to serving the public interest by strengthening the profession and contributing to the development of strong international economies. IFAC is comprised of 180 members and associates in 135 countries and jurisdictions, representing more than 3 million accountants in public practice, education, government service, industry, and commerce. In October 2021, Chartered Accountants Ireland co-published Climate Essentials for Accountants, a short glossary explaining common climate terms and jargon associated with climate.
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