What is it?
Assurance is the engagement of a third-party to review your organisations’ reported information, ensuring assurance across several fronts:
– Compliance with the CSRD and ESRS
– Double materiality process adherence
– Compliance with Article 29d (ESEF for financial reporting) and the EU Taxonomy
Ready for assurance?
Key areas to focus on:
1. The double materiality analysis: Assess impacts, risks and opportunities to identify material topics or relevance to the organisation’s operations and value chain. Have you allowed for the cross-collaboration between organisational teams?
2. Data management: Do you have the necessary data infrastructure to report on identified material topics? How complete or accurate is the data that is available? Have all appropriate documentation of decisions and processes been kept supporting reporting information?
3. Planning: Develop key policies, procedures, strategies, and goals (with suitable KPIs) that are relevant to each material topic and support information presented in the sustainability report.
4. Organisational management: Do you have the right resources – financially and personnel wise? Does your organisational team possess the required skills and knowledge?
5. Structuring your sustainability report: Ensure it aligns with the ESRS.
6. Compliance with Standards: Familiarise yourself with relevant assurance standards, e.g. ISAE 3000 and ISSA 5000 as well as ISSA 3410 for assurance on corporate carbon footprint (Scope 1-3).