Considerations for preparers and practitioners
Who is using ESG assurance reports and what decisions are they making?
There are many different stakeholders using the ESG Assurance reports for a variety of purposes. They all have a common interest in wanting to be able to trust the information disclosed by financial services organisations.
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How do the considerations differ in public vs. private ESG reporting?
It is important for all parties in an assurance engagement to have an upfront understanding of where and how the assurance reports are to be used. While historically there have been more reports produced and used privately, more and more organisations are making their assurance reports publicly available.
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What needs considering in terms of roles and responsibilities in ESG assurance?
It is essential that roles and responsibilities are clearly defined and understood in an assurance engagement. The assurance practitioner does not give a guarantee of the information provided but independently assesses it based on the evidence.
ReadFurther considerations for practitioners
FRC launches best-practice guide for managing ESG data
Guidance provides corporates with adaptable model for thinking about how to optimise the ways they collect and utilise data on ESG themes.
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What assurance opinions can be given on ESG metrics under ISAE 3000 (Revised)?
ISAE 3000 (Revised) establishes the basic principles and procedures to support the performance of assurance engagements other than audits or reviews of historical information. It can be applied to a broad range of underlying subject matters and can give rise to either a reasonable or limited assurance.
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How do you evaluate the proposed scope of an ESG assurance engagement?
Agreeing on the proposed scope of the assurance engagement is critical. We suggest eight questions that assurance practitioners need to consider before making a decision.
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What do assurance practitioners need to know about ESG?
Rules, regulations and requirements around ESG reporting are complex and can be difficult to navigate. Assurance practitioners need to be knowledgeable about the considerations specific to preparers.
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What is certification in the context of ESG?
Certification is the formal attestation or confirmation of certain characteristics of an object, person, or organisation. In the context of ESG, certification can have different levels and can carry different weight.
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How do you apply ISQC1/ISQM1 in ESG engagements?
The intended users’ degree of confidence in the ESG disclosures is enhanced if assurance practitioners have ISQC1 compliant quality management implemented.
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What questions should you ask before accepting an ESG assurance engagement?
The practical challenges around the assurance of ESG reporting need to be carefully considered before accepting an engagement.
ReadGreenwashing in financial services: rising regulatory temperature
