Select a statement to learn more:
Explanation
Statutory auditors are authorised as Responsible Individuals approved under the relevant legislation to carry out statutory audits. Sustainability Assurance- Approved Employers need to set objectives, if required, and document these as part of developmental discussions. Individuals seeking a Sustainability Assurance licence must be clear on what they are expected to deliver in this role.
Questions
- How do you ensure that developmental discussions are tailored to individuals’ needs and the specific requirements of sustainability assurance reporting?
- What is the process for discussing sustainability assurance aspirations with individuals and setting the necessary objectives, including ensuring that the individual has met the necessary educational requirements (passing the relevant examination) and completed the required period of practical training in relevant sustainability matters?
- How does your firm’s strategy align with the growing demand for sustainability assurance?
Evidence examples
- Documented policy or other document explaining the company’s approach to sustainability reporting.
- Documented discussions that include sustainability assurance related objectives being set.
Explanation
A Principal is defined as an appropriately qualified member of a professional accountancy body. Eligibility to act as a principal depends on the type of qualification, and the territory in which the qualification is valid.
This is currently only available for ACCA registered firms in the Republic of Ireland.
Evidence examples
- Evidence of Compliance Principal oversight of individuals’ development.
- Evidence that Compliance Principals are appropriately qualified and aware of sustainability reporting requirements.
Explanation
Sustainability Assurance Approved Employers need to demonstrate that those seeking a Sustainability Assurance licence are provided with relevant developmental activities to demonstrate the necessary competence for providing assurance on sustainability reporting.
Evidence examples
- List of in-house or outsourced development opportunities available specifically in the area of sustainability assurance and reporting.
Explanation
Sustainability Assurance Approved Employers need to be able to verify that relevant individuals are provided with the opportunity to undertake activities that meet the sustainability assurance licensing requirements and develop the necessary competence as outlined in the practical training requirement.
Questions
- What type of sustainability assurance engagements do the firm undertake?
- How do you ensure a variety of experience in sustainability assurance engagements for those pursuing a Sustainability Assurance licence?
Evidence examples
- Outline of experiential learning opportunities available and assignment process for relevant individuals.
- Evidence of practical training record assessments demonstrating individual competence in relevant standards.
Explanation
Compliance Principals understand their roles and responsibilities in overseeing the development of sustainability professionals in the organisation. As part of the application and monitoring processes Compliance Principals will be required to verify their understanding of the Sustainability Assurance licence requirements.
Questions
- How do you ensure that Compliance Principals stay up to date with the evolving landscape of sustainability reporting and assurance standards?
- What is your organisation’s quality control processes for sustainability assurance engagements and how are any issues identified and addressed?
- How do you ensure that Compliance Principals/individuals stay up to date with the evolving requirements of sustainability reporting and assurance standards?
Evidence examples
- Documented policy or other document explaining the company’s approach to sustainability reporting.
Explanation
Sustainability Assurance Approved Employers need to evaluate the practical experience that has been achieved by the relevant individual and identify further development opportunities in areas where practical experience is still not sufficient.
Questions
- What processes are in place for the ongoing training and development of staff in sustainability assurance?
Evidence examples
- Evidence showing that Compliance Principals actively monitor and validate the progress of individuals pursuing a Sustainability Assurance licence.