TECHNICAL HIGHLIGHTS

AUDITING AND ASSURANCE

IAASB Publishes New Resources To Support ISSA 5000 Adoption And Implementation

IAASB has released two new resources to further support jurisdictions and stakeholders in adopting and implementing the International Standard on Sustainability Assurance (ISSA) 5000 General Requirements for Sustainability Assurance Engagements:

• The ISSA 5000 extracts feature materials that are relevant to limited assurance and reasonable assurance engagements. They were prepared in response to requests from stakeholders to be able to separately view the materials.
• The Frequently Asked Questions (FAQs) document addresses the applicability of ISSA 5000, ISAE 3000 (Revised), and ISAE 3410 for sustainability assurance engagement after the effective date of ISSA 5000 (December 2026). It is intended to assist with adoption and consistent implementation of ISSA 5000.

New ISSA 5000 Webinar Series For Sustainability Assurance Engagements

The webinar series, ISSA 5000 in Focus, is designed to assist sustainability assurance practitioners, firms, jurisdictional standard-setters, and professional organisations as they adopt, implement, or apply ISSA 5000. The series will take participants through ISSA 5000 from engagement acceptance to assessing risks and designing and performing procedures, and finally to concluding and reporting. Each webinar includes an explanation of ISSA 5000 requirements with practical implementation insights, real-world examples, and solutions to common challenges.

IAASB Adopts New Publicly Traded Entity Definition Aligned With IESBA Code Of Ethics

IAASB has issued narrow scope amendments to align the definition of a publicly traded entity (PTE) with the IESBA Code of Ethics. The amendments become effective for engagements for periods beginning on or after 15 December 2026. The new definition will amend the International Standards on Quality Management (ISQMs), International Standards on Auditing (ISAs), and ISRE 2400 (Revised). ISCA will undertake the due process to adopt the amendments in Singapore.

ETHICS

IESBA Publishes New Guidance To Support Implementation Of Standards On External Experts And Sustainability Assurance

IESBA has issued two new staff publications to enhance understanding and support global adoption and implementation of its ethics standard on Using the Work of an External Expert as well as the International Ethics Standards for Sustainability Assurance (including International Independence Standards) (IESSA), both of which are effective from December 2026. These publications explain key aspects of the standard related to using the work of an external expert and the proportionality of the ethics and independence provisions for sustainability assurance in IESSA.

FINANCIAL REPORTING

IASB Issues Amendments To IFRS 19 To Complete Catch-Up Work

The amendments will provide reduced disclosure requirements for new and amended IFRS Accounting Standards issued between February 2021 and May 2024. With these amendments, IFRS 19 reflects the changes to IFRS Accounting Standards that take effect up to 1 January 2027, when IFRS 19 will be applicable.

September 2025 Agenda And Meeting Papers Available

• Due Process Oversight Committee (DPOC)

At the DPOC meeting on 2 September 2025, the topics discussed include plans for a concurrent IASB-ISSB agenda consultation and IASB’s Fourth Agenda Consultation.

• IFRS Interpretations Committee

At the IFRS Interpretations Committee meeting on 16 September 2025, the topics discussed include the sharing of initial considerations on (i) Classification of a Foreign Exchange Difference from an Intragroup Monetary Liability (or Asset) (IFRS 18), and (ii) Economic Benefits from Use of a Battery under an Offtake Arrangement (IFRS 16), and seeking of views on Business Combinations – Disclosures, Goodwill and Impairment.

• IASB

At the IASB meeting from 23 to 25 September 2025, the topics discussed include proposed amendments related to the reclassification of financial liabilities and equity instruments in the Exposure Draft Financial Instruments with Characteristics of Equity, staff analysis and recommendations on Statement of Cash Flows and Related Matters, and redeliberating the proposals in Exposure Draft Equity Method of Accounting – IAS 28 Investments in Associates and Joint Ventures (revised 202x).

SUSTAINABILITY & CLIMATE CHANGE

Extended Timelines For Most Climate Reporting Requirements To Support Companies

The Accounting and Corporate Regulatory Authority and Singapore Exchange Regulation have extended the implementation timelines for climate reporting (including external assurance) to support listed companies and large non-listed companies in developing their reporting capabilities. All listed companies will continue to report Scope 1 and 2 greenhouse gas emissions from financial year (FY) on or after 1 January 2025. STI constituents will take the lead in adopting ISSB-based climate-related disclosures from FY 2025 and begin reporting Scope 3 emissions from FY 2026.

New Material About Anticipated Financial Effects Applying ISSB Standards

ISSB published educational material titled “Disclosing information about anticipated financial effects applying ISSB Standards”. The material illustrates how companies applying ISSB Standards might disclose anticipated financial effects of their sustainability-related risks and opportunities, complementing information in their financial statements.