Takeaway

Key Concepts: Internal and External Assurances

Watch for assurances in sustainability reports. Both internal and external assurances make information more credible and reliable.

Internal assurances provide early warning signals and observations to improve

  • the reporting process
  • information quality
  • performance improvement

External assurances provide an assessment of the quality of the information. Although some external assurance providers will include observations, their main objective is to determine accuracy of information.
External assurances help to improve

  • information accuracy
  • fulfillment of legal requirements
  • performance practices