Assurance is required on sustainability, compliance with laws and regulations, and value-for-money. Demand for assurance beyond financial statement audits, particularly for sustainability/climate-change reporting is increasing. ASAE 3000 Assurance Engagements Other than Audits or Reviews of Historical Financial Information must be applied.
ASAE 3000 is the umbrella standard for the suite of ASAE standards. ASAE 3000 has been recently amended in the light of ethics-code changes and the suite of quality-management standards.
Under ASAE 3000, assurance engagements include both attestation engagements, in which a party other than the assurance practitioner measures or evaluates underlying subject matter against the criteria, and direct engagements. Such engagements may provide either reasonable or limited assurance.
The session will:
- Address which assurance engagements are within its scope and those that are not
- Explain acceptance and continuance rules
- Discuss the skills required and roles of professional scepticism and judgement
- Help understand ethical considerations
- Explain the quality-management standards embedded in ASAE 3000
- Address planning and performance of the engagement
- Discuss evidence and documentation requirements
- Explain what and how to report, and
- Provide an update on the AUASB consultation paper Exposure of the IAASB’s Proposed ISSA 5000 General Requirements for Sustainability Assurance Engagements; and Proposed Conforming and Consequential Amendments to Other IAASB Standards.
