Professional Documents
Culture Documents
ISEA 33410 Green House Gas
ISEA 33410 Green House Gas
Auditing
Hayes, Dassen,Standards and
Schilder, Wallage: Regulation
Principle of auditing are Rapidly Changing
Hayes, Dassen, Schilder, Wallage: Principle of auditing
The role of assurance engagement
Financial Information
Historical
Non Historical
Non Financial
Information
assurance
Non
assurance
An engagement in which
a practitioner aims to obtain sufficient appropriate
evidence in order to express a conclusion designed to
enhance the degree of confidence of the intended users
other than the responsible party about the subject matter
information
ISAE
ISAE3000
3000--Objectives
Objectives
1. Reasonable Assurance or Limited assurance
2. To express a conclusion
a. regarding the outcome of the measurement or evaluation of
the underlying subject matter
b. through a written report that conveys either
a reasonable assurance or
a limited assurance conclusion and describes the basis for the
conclusion
Reasonable
Reasonable Assurance
Assurance
INTERNATIONAL
STANDARD ON
ASSURANCE
ENGAGEMENTS 3410
ASSURANCE
ENGAGEMENTS ON
GREENHOUSE GAS
STATEMENTS
Parties with commitments under the Kyoto Protocol (Annex B Parties) have accepted
targets for limiting or reducing emissions. These targets are expressed as levels of
allowed emissions, or assigned amounts, over the 2008-2012 commitment period.
The allowed emissions are divided into assigned amount units (AAUs).
Emissions trading, as set out in Article 17 of the Kyoto Protocol, allows countries that
have emission units to spare - emissions permitted them but not "used" - to sell this
excess capacity to countries that are over their targets.
Thus, a new commodity was created in the form of emission reductions or removals.
Since carbon dioxide is the principal greenhouse gas, people speak simply of trading in
carbon. Carbon is now tracked and traded like any other commodity. This is known as
the "carbon market."
Removal
Removal
Removal may be achieved by storing GHGs in geological
sinks (for example, underground) or biological sinks (for
example, trees).
Where the GHG statement includes the removal of
GHGs that the entity would have otherwise emitted to
the atmosphere, they are commonly reported in the
GHG statement on a gross basis, that is, both the source
and the sink are quantified in the GHG statement.
Where removals are covered by the practitioners
conclusion, the requirements of this ISAE apply in
relation to those removals as appropriate.
Inventory
Inventory uncertainty
uncertainty
GHGs (or emissions inventories) are, by nature, subject to uncertainty, including:
ISAE 3000,
Assurance Engagements Other than Audits or Reviews of Historical Financial Information,