Sustainability Project
This project aims to build an understanding of the rapidly progressing developments regarding sustainability reporting and assurance, and to provide timely responses to ethics and independence-related concerns.
Related Documents:
Media ReleaseSustainability Exposure Draft 01/25
Experts Exposure Draft 02/25
| Comment | |
|---|---|
| Deloitte - ED 01/25 & ED 02/25 | View |
| EY - ED 01/25 & ED 02/25 | View |
| KPMG - ED 01/25 & ED 02/25 | View |
| AAAPPC - ED 01/25 | View |
| CPA Australia - ED 01/25 | View |
| CPA Australia - ED 02/25 | View |
| Institute of Public Accountants - ED 01/25 | View |
| Institute of Public Accountants - ED 02/25 | View |
| CA ANZ - ED 01/25 | View |
| CA ANZ - ED 02/25 | View |
Project Stages
APESB's Sustainability project is based on an IESBA project
Further information on the IESBA project is available on their project page.
APESB Information Gathering
Sustainability is a strategic focus of the APESB, with recent developments relating to Sustainability set out on the Sustainability Focus Area on APESB's website.
In addition, APESB Technical Staff have provided updates to the Board on relevant national and international developments relating to sustainability. These updates are listed under the Board Meeting headings below.
Board Papers 2024
Update on Sustainability (BM 129 - Dec 2024)
Update on Sustainability (BM 127- Sep 2024)
Board Papers 2023
Update on Sustainability (BM 124 - Nov 2023)
Update on Sustainability (BM 121 - Aug 2023)
Update on Sustainability (BM 119 - May 2023)
IESBA RT Introductory Session (BM 119 - May 2023)
Board Papers 2025
Proposed revisions to APES 110 for Sustainability Assurance and Reporting (BM 130 - Mar 2025)
Australian environmental factors and potential impact on the proposed AESSA (BM 130 - Mar 2025)
Sustainability Project Issues Register - 24 Feb 2025 (BM 130 - Mar 2025)
Sustainability Taskforce Meeting 1st Minutes - 12 Dec 2024 (BM 130 - Mar 2025)
Sustainability Taskforce Meeting 2nd Minutes - 23 Jan 2025 (BM 130 - Mar 2025)
Proposed Australian-specific amendments in ED 01/25 (BM 130 - Mar 2025)
Proposed revisions to APES 110 for the Use of External Experts (BM 130 - Mar 2025)
APESB Sustainability Taskforce
The APESB Sustainability Taskforce was established in December 2024. It is comprised of representatives from the professional accounting bodies, accounting firms, consultants and standard setters.
Minutes from Meeting - 12 December 2024
IESBA's Sustainability-related revisions to the Code
The IESBA issued exposure drafts in early 2024 on proposed revisions to the International Code of Ethics for Professional Accountants (including International Independence Standards) (the IESBA Code) for sustainability assurance and reporting, and the use of experts.
IESBA Exposure Draft on Sustainability
IESBA Exposure Draft on Using the Work of an External Expert
APESB made submissions to the IESBA's proposals in 2024.
APESB Submission on IESBA's Exposure Draft on Using the Work of an External Expert (May 24)
IESBA released their final sustainability-related pronouncements on 17 January 2025.
IESBA Final Pronouncement: Revisions to the Code Addressing Using the Work of an External Expert
Submissions to the Treasury's consultation papers
The Australian Treasury have issued three consultations papers on climate-related financial disclosure in Australia. APESB have made the following submissions to these consultations.
APESB Submission on Treasury CP Climate related financial disclosure (Feb 24)
APESB Submission on Treasury CP Climate related financial disclosure (Jul 23)
APESB Submission on Treasury CP Climate related financial disclosure (Feb 23)
Submission to the AUASB's Exposure Draft
APESB made a submission to the AUASB's exposure draft Proposed amendments to ASSA 5000 and ASA 102 in May 2025.
APESB Submission to the AUASB’s Exposure Draft Proposed amendments to ASSA 5000 and ASA 102 (May 25)
Exposure Drafts
Sustainability Exposure Draft 01/25
Sustainability Exposure Draft 01/25 - Mark-up from Extant provisions in the Code
Experts Exposure Draft 02/25 - Mark-up from Extant provisions in the Code
Submissions made to ED 01/25 and ED 02/25
Chartered Accountants Australia and New Zealand - ED 01/25
Chartered Accountants Australia and New Zealand - ED 02/25
Deloitte - ED 01/25 & ED 02/25
Institute of Public Accountants - ED 01/25
Board Papers 2025
Review and Consideration of Comments Sustainability ED (BM 131 - Jun 2025)
General Comments Table ED 01 25 (BM 131 - Jun 2025)
Specific Comments Table ED 01 25 (BM 131 - Jun 2025)
Reporting Assurance Ethics Independence Table (BM 131 - Jun 2025)
Information Scope 3 Emissions Disclosures (BM 131 - Jun 2025)
Review and Consideration of Comments Experts ED (BM 131 - Jun 2025)
General Comments Table ED 02 25 (BM 131 - Jun 2025)
Specific Comments Table ED 02 25 (BM 131 - Jun 2025)
Proposed combined Amending Standard for APES 110 on Sustainability and Experts (BM 131 - Jun 2025)
APES 110 AS Sustainability and Experts (mark-up from EDs) (BM 131 - Jun 2025)
Draft Basis for Conclusions Sustainability and Experts (BM 131 - Jun 2025)
Sustainability Project Issues Register (May 2025) (BM 131 - Jun 2025)
Sustainability Taskforce Meeting 3 Minutes - 17 Feb 2025 FINAL (BM 131 - Jun 2025)
Project Status
Project in progress.
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