ICAI Unveils SSA 5000 to Bring Sustainability Assurance in Line with Global Norms

The Institute of Chartered Accountants of India (ICAI) has issued a new standard for sustainability assurance engagements, a move aimed at bringing Indian practice in step with international benchmarks.

Titled "SSA 5000 – General Requirements & Framework for Sustainability Assurance Engagements," the standard establishes a principle-based framework intended to make sustainability assurance more consistent and to reinforce confidence among investors and other stakeholders.

According to ICAI, the standard mirrors the International Auditing and Assurance Standards Board's ISSA 5000, with certain carveouts designed for the Indian context. The framework is meant to offer a uniform basis for assurance work while responding to changing reporting requirements in the country.

CA. Prasanna Kumar D, President of ICAI, said the standard raises sustainability assurance in India to global standards and described it as a comprehensive, principle-based framework built to inspire lasting confidence among investors and stakeholders. With its issuance, he added, India has become globally aligned.

CA. Mangesh Kinare, Vice-President of ICAI, said SSA 5000 widens the scope of sustainability assurance while accommodating diverse reporting frameworks with equal rigour and consistency.

The standard and its accompanying framework will take effect for financial years beginning on or after April 1, 2027. Once in force, the existing standards SSAE 3000 and SAE 3410 will stand withdrawn.

ICAI said the new standard is intended to address emerging reporting demands and to sustain stakeholder confidence in corporate sustainability disclosures.

The institute is a statutory body established under the Chartered Accountants Act, 1949, for the regulation and development of the chartered accountancy profession, and operates under the administrative supervision of the Ministry of Corporate Affairs.