ABSTRACT
The demand for assurance on integrated reporting (IR) is increasing as this form of reporting becomes more widespread. The different nature of information contained in an integrated report, compared to traditional financial and sustainability reports, gives rise to significant challenges and opportunities associated with assurance engagements on IR. The International Integrated Reporting Council (IIRC) is working closely with the International Auditing and Assurance Standards Board (IAASB), which is currently developing guidance for practitioners when undertaking an Extended External Reporting (EER) assurance engagement in accordance with the International Standard on Assurance Engagements (ISAE) 3000. In the current vacuum of regulatory guidance, a range of credibility-enhancing approaches to IR is emerging, including two approaches under the current IAASB remit (the ISAE 3000 approach and the ISA 720 approach), and two innovative approaches currently outside the IAASB remit: the combined assurance approach; and what we are describing as the integrated report assurance approach, which aligns with the International Integrated Reporting Framework (<IR> Framework) principles, and overcomes a number of the identified challenges associated with other assurance approaches. The diversity of credibility-enhancing approaches to IR and the non-mandatory nature of such services provide opportunities for academics to inform practitioners and regulators on the current state, the demand for, and the consequences of these various assurance approaches to IR.
