The AA1000 Assurance Standard, used by assurers as a guide to verifying sustainability reports, is being revised.
The standard, introduced by the UK-based think-tank AccountAbility in
March 2003, will be revamped using an ‘open source’ process, whereby
interested parties can post their suggested changes to online working
documents. Participants add their comments and amendments until
consensus is reached.
AccountAbility will work on the revision from next month with openDemocracy, a web discussion forum.
The second edition of the standard is expected to last between four and
six years and will reflect new thinking on materiality, stakeholder
engagement and ‘the integration of sustainability with core business
performance’. It is expected to be ready by the end of 2008.
AccountAbility said there had been calls for a revised standard from
all quarters, including companies, report readers and institutional
investors.
Alongside the open source approach there will also be conventional
consultation workshops until December in 14 locations, including
Australia, Brazil, China, India, Japan, Malaysia, the UK and the US.
