BDO joins the IAASB’s Task Force exploring emerging forms of external reporting assurance
09 abril 2018
The IAASB has selected Henning Dräger, BDO's Global Lead Integrated Reporting and Sustainability, to join its Task Force exploring material issues and challenges around Emerging Forms of External Reporting assurance (EER).
EER refers to emerging forms of external reporting by entities that increasingly provide non-financial information that goes beyond the traditional focus on the entity’s financial position, financial performance and impact on its financial resources. Examples include Integrated Reporting, Sustainability, Corporate Social Responsibility and emerging Environmental Social and Governance (ESG) disclosures.
There is an increasing awareness that the future prospects of an entity are impacted by a wider range of factors than those presented in the financial statements, and of the close linkage between wider value creation and the ability of an entity to sustain its operations in the future. Information about these matters is increasingly addressed in EER reporting frameworks. Assurance engagements over such reports under ISAE 3000 (Revised) are also emerging.
The IAASB identified 10 key EER assurance challenges in a 2016 paper which among others included the complexity of determining an EER scope as well as obtaining assurance with respect to narrative and future-oriented information.
The EER Task Force aims to:
- The Task Force will address all 10 challenges and explore additional issues raised since 2016.
- Develop non-authoritative guidance in applying ISAE 3000 to EER in late 2019
- Continuing to provide IAASB and wider thought leadership on assurance issues in relation to EER
- Coordinating the work of the project with related initiatives of other relevant international organisations
Henning Dräger says: “I look forward to work with EER Task Force members exploring issues and challenges towards defining a robust scope for future EER assurance engagements. As the popularity of non-accounting data and reports increases assurance providers, including BDO, need to ensure that clients consider best practice criteria around scope, materiality, forward looking information and use of narrative reporting. EER Task Force outcomes will provide BDO with relevant learnings and insights which can be translated into client relevant guidance and support BDO thought leadership on this emerging issue”
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