Accountability, Publication of Korean Version of Sustainability Report Assurance Standards

KSA and Kosri Collaborate to Prepare for Mandatory Reporting Requirements

AccountAbility, the global standard-setting organization for sustainability report assurance, officially announced the publication of the Korean version of the assurance standard (AA1000AS v3) on the 1st in Seoul, New York, USA, and London, UK.

AccountAbility stated that the publication of the Korean version of the AA assurance standard will contribute to the systematic establishment of the third-party assurance market for sustainability reports in Korea, and that the Korean Standards Association (KSA) and KOSRI jointly participated in this work.

AccountAbility is an organization that establishes global third-party assurance standards for sustainability disclosures. Third-party assurance is an essential requirement to guarantee the reliability of ESG information disclosure data. Founded in 1999, AccountAbility leads global standards.

The Standards Association and KOSRI participated together in the publication of the Korean version by AccountAbility, laying the foundation for the domestic sustainability report assurance market. Jongjae Lee, Chief Researcher at KOSRI, said, “Sustainability reports are a communication tool with stakeholders summarizing ESG management performance, and accurate assurance plays a decisive role in enhancing the credibility of the reports,” adding, “It will stably support the effective development of rapidly expanding ESG management and the mandatory preparation of sustainability reports starting in 2025.”

Myungsoo Kang, Chairman of the Korean Standards Association, said, “Along with the global trend of strengthening sustainability information disclosure, the demand for reliability and verifiability of sustainability data has increased in Korea,” and added, “We expect that the Korean translated version will further enhance the credibility and transparency of Korean companies’ sustainability reports.”

The Korean version of the AA assurance standard can be downloaded for free from the AccountAbility website starting at 0:00 on the 1st, New York time.