Proposed guidance on Extended External Reporting (EER) Assurance
EER encapsulates integrated reporting, sustainability reporting and other matters including environmental, social and governance matters.
The IAASB is seeking feedback on draft non-authoritative EER assurance guidance.
This draft non-authoritative guidance covers the following aspects of the performance of an EER assurance engagement where practitioners commonly encounter challenges in applying ISAE 3000 (Revised):
- Applying appropriate competence and capabilities to an EER engagement;
- Exercising professional scepticism and professional judgement in the context of an EER engagement, where there may be a heightened need to do so;
- Determining preconditions and agreeing the scope of an EER assurance engagement;
- Determining the suitability and availability of criteria (reporting framework(s), standards or preparer-developed criteria) used to prepare the EER report;
- The preparer’s governance and internal control over its process to prepare the EER report;
- Considering an entity’s process to develop preparer-developed criteria to determine the topics to be reported on in the entity’s EER report (sometimes referred to as a preparer’s ‘materiality process’);
- The types of misstatements that may occur in the EER report (using assertions);
- Obtaining evidence;
- Considering the materiality of misstatements in the EER report;
- Preparing the assurance report;
- Considerations in addressing qualitative EER information; and
- Considerations in addressing future-oriented EER information.
The Consultation Paper is on the full combined and updated phase 1 and phase 2 drafts. Views are also sought on two supplementary documents including contextual and background information and illustrative examples.
Commenting on the proposal
We are seeking views from those considering or that have practical experience in this evolving area of reporting–including practitioners, preparers, investors and users of EER reports in New Zealand.
- Share your views with the NZAuASB by 12 June 2020 (using the secure online form below); or
- Respond directly to the IAASB by 13 July 2020.
Upload your submission here
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