Tag: internal controls

The International Auditing and Assurance Standards Board issued an exposure draft of General Requirements for Sustainability Assurance Engagements – International Standard on Sustainability Assurance (ISSA) 5000, inviting comments by December 1, 2023.  Douglas Hileman Consulting LLC (DHC) submitted comments, with two topics of interest to preparers and users of these reports. 

Why the push for assurance standards?          Sustainability reports have been around for over 25 years. Sustainability factors affect companies’ prospects for obtaining capital, delivering financial performance, as well as their effect on the environment and society.  They have matured over the years.  Even so, the scope, content, metrics, and rigor leave much to be desired by users – notably investors.  Some regulations, including the EU’s Sustainability Reporting Standards (ESRS) and California’s SB 253 (disclosure of greenhouse gas emissions) will require external assurance within a few years.  Read More

IIA Los Angeles 2022 Fall Conference Session: Takeaways

I presented “Internal Controls over Sustainability Reporting” (ICSR) at the Institute of Internal Auditors – Los Angeles Chapter – 2022 Fall Conference in October 2022.  This long-running, marquee event attracts hundreds of attendees from across the Southland.  My latest installment was another successful session on hot topics related to Sustainability/ ESG.  Reporting, disclosures, and even expectations of assurance are on the rise.  Here are key takeaways from the session, where Internal Auditors learned how to add value to their organizations. 

• Sustainability reporting: Sustainability/ ESG reporting is done to meet the needs of many stakeholders.  Investors – and analysts supporting them – have been leading the charge, demanding accurate, reliable, decision-useful reporting and disclosure on sustainability topics.   (Read More)