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ASSA 5010
   (January 2025)

Australian Standard on Sustainability Assurance ASSA 5010
Timeline for Audits and Reviews of Information in Sustainability Reports under the Corporations Act 2001

Issued by the Auditing and Assurance Standards Board

Obtaining a Copy of this Standard

This Standard is available on the Auditing and Assurance Standards Board (AUASB) website: www.auasb.gov.au

Contact Details
Auditing and Assurance Standards Board
Phone: (03) 8080 7400
E-mail: enquiries@auasb.gov.au

Postal Address:
PO Box 204, Collins Street West
Melbourne   Victoria   8007
AUSTRALIA

COPYRIGHT

© 2025 Commonwealth of Australia.  The text, graphics and layout of this Standard are protected by Australian copyright law and the comparable law of other countries.  Reproduction within Australia in unaltered form (retaining this notice) is permitted for personal and non‑commercial use subject to the inclusion of an acknowledgment of the source as being the Australian Auditing and Assurance Standards Board (AUASB).

Requests and enquiries concerning reproduction and rights for commercial purposes should be addressed to the Director - National, Auditing and Assurance Standards Board, PO Box 204, Collins Street West, Melbourne, Victoria 8007 or sent to enquiries@auasb.gov.au.  Otherwise, no part of this Standard may be reproduced, stored or transmitted in any form or by any means without the prior written permission of the AUASB except as permitted by law.

ISSN 1030-603X

CONTENTS

PREFACE

AUTHORITY STATEMENT

CONFORMITY WITH INTERNATIONAL STANDARDS ON AUDITING

Paragraphs

Application.................................................................1

Effective Date...............................................................2

Introduction

Contents of Sustainability Report................................................3-5

Audit/review of Information in Sustainability Report..................................6-7

Objective..................................................................8

Definitions.................................................................9

Requirements............................................................10-11

Appendix – Diagrammatic representation of assurance phasing

preface

Reasons for Issuing ASSA 5010

The AUASB issues Australian Standard on Sustainability Assurance ASSA 5010 Timeline for Audits and Reviews of Information in Sustainability Reports under the Corporations Act 2001 as required by s1707E(2) of the Corporations Act 2001 (the Act).

The AUASB is a non-corporate Commonwealth entity of the Australian Government, established under section 227A of the Australian Securities and Investments Commission Act 2001, as amended (ASIC Act).  Under paragraph 227B(1)(a) of the ASIC Act and section 336 of the Act, the AUASB may make Auditing Standards for the purposes of the corporations legislation.  These Auditing Standards are legislative instruments under the Legislation Act 2003.

Under the Strategic Direction given to the AUASB by the Financial Reporting Council (FRC), the AUASB is required, inter alia, to develop auditing standards that have a clear public interest focus and are of the highest quality.

Main Features

This Australian Standard on Sustainability Assurance (ASSA) specifies the timeline for information in a sustainability report for a financial year prepared in accordance with Chapter 2M of the Act to be subject to audit and/or review for financial years commencing from 1 January 2025 to 30 June 2030.

New Standard on Assurance over Sustainability Information

This Standard