The Committee of European Auditing Oversight Bodies (CEAOB) has launched a public consultation on its non-binding guidelines on limited assurance on sustainability reporting. The consultation is available here.
The deadline for participation closed on 22 July 2024.
ECIIA has submitted a final reaction to it, advocating for the integration of the role of internal audit within the CEAOB guidelines. The draft of the International Standard on “Sustainability Assurance Engagements” (ISSA 5000) recognises Internal Audit as a vital engagement resource that external assessors can rely upon.
Internal audit is integral to strong governance, providing the Board and Governing Bodies with assurance that ESG (Environmental, Social, and Governance) principles are effectively embedded.
The role of internal audit is necessary for:
- Achieving ESG reporting objectives: consistency, comparability, reliability, and usefulness for decision-making.
- Assisting the Board and Governing Bodies in their new ESG reporting roles.
For more details, read our full response: