The IESBA today submitted a comment letter to the Committee of European Auditing Oversight Bodies (CEAOB) regarding the CEAOB’s draft non-binding guidelines on limited assurance on sustainability reporting under the Corporate Sustainability Reporting Directive (CSRD) in the European Union (EU).
Starting from financial years beginning on or after January 1, 2024, large companies in the EU are required to draw up sustainability statements in accordance with the European Sustainability Reporting Standards (ESRS). These statements are required to be subject to an assurance engagement by statutory auditors or other assurance services providers.
To prevent fragmentation and promote consistency in practices until the European Commission’s (EC) adoption of an assurance standard at EU level by October 1, 2026, the EC has invited the CEAOB to develop non-binding guidelines regarding limited assurance on sustainability reporting.
To read the full comment letter, please click here.
About IESBA
The International Ethics Standards Board for Accountants serves the public interest by setting high-quality ethics standards, including independence requirements, as a cornerstone to ethical behavior in business and organizations, and to public trust in financial and non-financial information that is fundamental to the proper functioning and sustainability of organizations, financial markets and economies worldwide.
Along with the International Auditing and Assurance Standards Board (“IAASB”), the IESBA is part of the International Foundation for Ethics and Audit (“IFEA”). The Public Interest Oversight Board (“PIOB”) oversees IESBA and IAASB activities and the public interest responsiveness of the standards.