Firms have traditionally provided to their audit clients a range of non-assurance services that are consistent with their skills and expertise. Providing non-assurance services may, however, create threats to the independence of the firm or members of the audit team. The threats created are most often self-review, self-interest and advocacy threats.

New developments in business, the evolution of financial markets and changes in information technology make it impossible to draw up an all-inclusive list of non-assurance services that might be provided to an audit client. When specific guidance on a particular non-assurance service is not included in this section, the conceptual framework shall be applied when evaluating the particular circumstances.Before the firm accepts an engagement to provide a non-assurance service to an audit client, a determination shall be made as to whether providing such a service would create a threat to independence. In evaluating the significance of any threat created by a particular non-assurance service, consideration shall be given to any threat that the audit team has reason to believe is created by providing other related non-assurance services. If a threat is created that cannot be reduced to an acceptable level by the application of safeguards, the non-assurance service shall not be provided.Providing certain non-assurance services to an audit client may create a threat to independence so significant that no safeguards could reduce the threat to an acceptable level. However, the inadvertent provision of such a service to a related entity, division or in respect of a discrete financial statement item of such a client will be deemed not to compromise independence if any threats have been reduced to an acceptable level by arrangements for that related entity, division or discrete financial statement item to be audited by another firm or when another firm re-performs the non-assurance service to the extent necessary to enable it to take responsibility for that service.A firm may provide non-assurance services that would otherwise be restricted under this section to the following related entities of the audit client:(a) An entity, which is not an audit client, that has direct or indirect control over the audit client;(b) An entity, which is not an audit client, with a direct financial interest in the client if that entity has significant influence

over the client and the interest in the client is material to such entity; or(c) An entity, which is not an audit client, that is under common control with the audit client.If it is reasonable to conclude that (a) the services do not create a self-review threat because the results of the services will not be subject to audit procedures and (b) any threats that are created by the provision of such services are eliminated or reduced to an acceptable level by the application of safeguards.A non-assurance service provided to an audit client does not compromise the firm’s independence when the client becomes a public interest entity if:(a) The previous non-assurance service complies with the provisions of this section that relate to audit clients that are not

public interest entities;(b) Services that are not permitted under this section for audit clients that are public interest entities are terminated before

or as soon as practicable after the client becomes a public interest entity; and(c) The firm applies safeguards when necessary to eliminate or reduce to an acceptable level any threats to independence

arising from the service.

Assurance engagements: CPA's provide a variety of services, they tend to be customised (unlike the structure of auditing). Can test financial and non-financial information. CPA's test the validity of past data of the business cycles.Non-assurance engagements: Both engagements have rhe primary purpose of improving the quality of information. These engagements provided by CPA's include accounting and book-keeping services, tax services and management consulting services -- these fall outside assurance engagements.

Examples of non-assurance

How do I guarantee the fulfillment of contract and the compliance with regulatory requirements? Is there a risk of failure in communication concerning corporate ethics and sustainability? Is the effectiveness and efficiency of internal controls sufficient?  Do I have transparency in IT and data safety? Are there uncertainties in specific questions regarding accounting and taxes? Is the budgeting and finance planning process properly established? Can I reduce a purchase price of a current transaction?

Sustainability reporting

A sustainability report is an organizational report that gives information about economic, environmental, social and governance performance. [1]

Sustainability reporting [2] is not just report generation of collected data it is a method to internalize and improve an organization’s commitment to sustainable development in a way that can be demonstrated to both internal and external stakeholders.

Organizations must ensure a robust system for sustainability management and reporting with regard to:

Transparency Traceability Compliance

Corporate sustainability reporting has a long history going back to environmental reporting. The first environmental reports were published in the late 1980s by companies in the chemical industry which had serious image problems. The other group of early reporters was a group of committed small and medium-sized businesses with very advanced environmental management systems.

Non-financial reporting, such as sustainability and CSR reporting, is a fairly recent trend which has expanded over the last twenty years. Many companies now produce an annual sustainability report and there are a wide array of ratings and standards around. There are a variety of reasons that companies choose to produce these reports, but at their core they are intended to be "vessels of transparency and accountability". Often they also intended to improve internal processes, engage stakeholders and persuade investors.[3]

Organizations can improve their sustainability performance by measuring, monitoring and reporting on it, helping them have a positive impact on society, the economy, and a sustainable future. The key drivers for the quality of sustainability reports are the guidelines of the Global Reporting Initiative (GRI),[4] (ACCA) award schemes or rankings. The GRI Sustainability Reporting Guidelines enable all organizations worldwide to assess their sustainability performance and disclose the results in a similar way to financial reporting.[5] The largest database of corporate sustainability reports can be found on the website of the United Nations Global Compact initiative.

A sustainability report is a report published by a company or organization about the economic, environmental and social impacts caused by its everyday activities. 

A sustainability report also presents the organization's values and governance model, and demonstrates the link between its strategy and its commitment to a sustainable global economy.

An increasing number of companies and organizations want to make their operations sustainable and contribute to sustainable development. Sustainability reporting can help organizations to measure, understand and communicate their economic, environmental, social and governance performance. Sustainability – the ability for something to last for a long time, or indefinitely – is based on performance in these four key areas. 

Systematic sustainability reporting helps organizations to measure the impacts they cause or experience, set goals, and manage change. A sustainability report is the key platform for communicating sustainability performance and impacts – whether positive or negative. 

To produce a regular sustainability report, organizations set up a reporting cycle – a program of data collection, communication, and responses. This means that their sustainability performance is monitored on an ongoing basis. Data can be provided regularly to senior decision makers to shape the organization's strategy and policies, and improve performance. 

Sustainability reporting is therefore a vital resource for managing change towards a sustainable global economy – one that combines long term profitability with ethical behavior, social justice and environmental care.

Sustainability reporting can be considered as synonymous with other terms for non-financial reporting; triple bottom line reporting, corporate social responsibility (CSR) reporting, and more.

It is also an intrinsic element of integrated reporting; a more recent development that combines the analysis of financial and non-financial performance. 

The uptake of sustainability reporting is increasing among organizations of all types and sizes. To learn more about how sustainability reporting is developing worldwide, visit the Report or Explain andReport Services pages.

Major providers of sustainability reporting guidance include:

• The Global Reporting Initiative (The GRI Sustainability Reporting Framework and Guidelines)

• The Organisation for Economic Co-operation and Development (OECD Guidelines for Multinational Enterprises)

• The United Nations Global Compact (the Communication on Progress)

• The International Organization for Standardization (ISO 26000, International Standard for social responsibility)

An effective sustainability reporting cycle should benefit all reporting organizations. 

Internal benefits for companies and organizations can include:• Increased understanding of risks and opportunities• Emphasizing the link between financial and non-financial performance• Influencing long term management strategy and policy, and business plans• Streamlining processes, reducing costs and improving efficiency• Benchmarking and assessing sustainability performance with respect to laws, norms, codes, performance standards, and voluntary initiatives• Avoiding being implicated in publicized environmental, social and governance failures• Comparing performance internally, and between organizations and sectors

External benefits of sustainability reporting can include:

• Mitigating – or reversing – negative environmental, social and governance impacts• Improving reputation and brand loyalty

• Enabling external stakeholders to understand the organization’s true value, and tangible and intangible assets• Demonstrating how the organization influences, and is influenced by, expectations about sustainable development

Many GRI publications examine organizations' experiences with sustainability reporting, including the benefits they have experienced.