We responded to the IAASB discussion paper “Supporting Credibility and Trust in Emerging Forms of External Reporting: Ten Key Challenges for Assurance Engagements“.

Assurance and possibly other forms of involvement by a professional practitioner can play an essential role in enhancing credibility and trust in EER reports.

The discussion paper sets out the key challenges well but the IAASB cannot solve these alone. The various stakeholders have a role to play in this.

We do not consider it would be the right approach for the IAASB to develop a lot of detailed standards at present. Any guidance should remain at a high level and focus on consistency of principles already present in the IAASB’s assurance framework and ISAE 3000. However, in order to reach a swift maturity, the way forward is to achieve a certain level of consistency on an international level.