Are Greenhouse Gas Assurance Engagements a Natural Domain of the Auditing Profession?

Abstract

Informed by stakeholder responses to the International Auditing and Assurance Standards Board’s (IAASB) Consultation Paper on their draft international standard for assurance on greenhouse gas (GHG) statements, this paper explores the question of whether GHG assurance engagements are a natural domain of the auditing and assurance profession. It is argued that there will be scope in the GHG assurance market for services led by different professionals depending on the nature of the engagement and clients’ cost-benefit analyses. Potential responses to the issues raised in the Consultation Process with regards the engagement partner, engagement teams and the use of the IAASB’s standards by parties other than professional accountants are also canvassed.