Extended external reporting assurance: Current practices and challenges

This paper summarizes the UNCTAD ISAR WBCSD Webinar—Assurance on Sustainability Reports: Current Practices and Challenges, which explored views practices assurance of extended external reporting (EER) identified challenges potential ways forward. Stakeholders are demanding more accountability, as reflected in increased publication EER regulatory developments. can play an important role rebuilding trust by catalyzing corporate focus disclosure business-centric matters material to stakeholders including strategy, business model, governance, greater transparency other non-financial matters. Relatedly, cannot rebuild unless disclosures credible viewed credible. Therefore, it is that assurance, credibility enhancing techniques, developed alongside frameworks takes account initiatives. We expand lessons outlined during Webinar highlighting questions posed participants, providing a historical overview European developments (e.g., Directive 2014/95/EU forthcoming revision), IAASB’s development ISAE 3000 guidance addressing major aimed at supporting practice-focused publications assurance. conclude with assessment way forward regard possible changes institutional setting, harmonization standards, ability provide reasonable versus limited Along our companion (Venter van Eck, 2021, 32), we contribute current discussion comprehensive landscape.