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Effective Date of applicability of Standard on Assurance Engagements (SAE) 3410 "Assurance Engagements on Greenhouse Gas Statements"
May, 06th 2022
Sustainability Reporting Standards Board
The Institute of Chartered Accountants of India
May 2nd, 2022
Announcement

Effective Date of applicability of Standard on Assurance Engagements (SAE) 3410 “Assurance Engagements on Greenhouse Gas Statements”


The Council, at its 410th meeting, held on March 24-25, 2022, considered the matter relating to effective date of applicability of Standard on Assurance Engagements (SAE) 3410 “Assurance Engagements on Greenhouse Gas Statements” issued by Sustainability Reporting Standards Board (SRSB) of The Institute of Chartered Accountants of India (ICAI). The Council decided that the effective date of application of SAE 3410 shall be as follows –



(i) Voluntary basis for assurance reports covering periods ending on March 31, 2023
(ii) Mandatory basis for assurance reports covering periods ending on or after March 31, 2024

SAE 3410 has been issued in February 2021, to strengthen assurance frameworks for Non-Financial Information, equivalent to ISAE 3410 “Assurance Engagements on Greenhouse Gas Statements” issued by the IAASB of IFAC. SAE 3410 deals with assurance engagements to report on an entity’s Greenhouse Gas (GHG) statement. The objective of an engagement under SAE 3410 is to obtain either limited or reasonable assurance, as applicable, about whether the GHG statement is free from material misstatement, whether due to fraud or error. GHG statements are assured to enhance the reliability of the emissions information being reported on. The approach adopted in SAE 3410 requires the practitioner to select procedures appropriate to the circumstances of the engagement based on an assessment of risks of material misstatement.



Standard on Assurance Engagements (SAE) 3410 “Assurance Engagements on Greenhouse Gas Statements” is available at https://resource.cdn.icai.org/62857srsb50843.pdf.

Chairman Vice-Chairperson
Sustainability Reporting Standards Board
The Institute of Chartered Accountants of India
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