THE ROLE OF ISSA 5000 STANDARD IN SHAPING CONTEMPORARY DIRECTIONS AND TASKS OF SUSTAINABILITY REPORTING AUDIT

Abstract

The article examines the role of the International Standard on Sustainability Assurance 5000 (ISSA 5000) in shaping contemporary directions and tasks of sustainability reporting audit in the context of achieving the Sustainable Development Goals (SDGs). The growing importance of sustainability reporting as a tool for accountability, strategic management, and decision-making has intensified the demand for high-quality and credible assurance of non-financial information. In this regard, ISSA 5000 is considered as a global baseline framework that responds to methodological fragmentation and limited comparability of sustainability assurance practices across jurisdictions. The study highlights that the implementation of ISSA 5000 contributes to a fundamental transformation of audit logic, shifting the focus from formal verification of disclosures to an analytical assessment of impacts, risks, and long-term resilience of entities. Particular attention is paid to the conceptual characteristics of the standard, including framework neutrality, professional neutrality, differentiation between limited and reasonable assurance, an expanded approach to audit evidence, and strengthened ethical and quality management requirements. These features enable the application of ISSA 5000 across various sustainability reporting frameworks and enhance the consistency and credibility of assurance engagements. The article systematizes the key directions and stages of sustainability reporting audit in accordance with ISSA 5000, covering acceptance and planning of engagements, risk assessment, response to identified risks, evaluation of misstatements, and reporting. In addition, a structured system of audit tasks is presented, specifying the auditor’s role in assessing the suitability of reporting criteria, determining materiality, understanding internal control and risk management systems, evaluating estimates and forward-looking information, and forming assurance conclusions. The findings demonstrate that ISSA 5000 strengthens the integration of sustainability audit with governance, risk management, and strategic processes. Its application enhances the quality, comparability, and reliability of sustainability reporting, reduces information asymmetry, and increases stakeholder trust. As a result, ISSA 5000 supports the effective use of sustainability information in monitoring progress towards the SDGs and in informed decision-making within both corporate and public sector environments.