What governance evidence does the assurance provider look for?

Evidence that the governance you described actually happened: board and committee minutes and papers showing climate was considered, terms of reference allocating oversight, the delegation to management, and dated records of the decisions you disclose. Governance disclosures are assured from year one, so the paper trail matters immediately.

What does the board have to sign?

The directors' declaration in the sustainability report. For financial years commencing between 1 January 2025 and 31 December 2027, directors declare they have taken reasonable steps to ensure the report complies with the Corporations Act. From financial years commencing 1 January 2028, they declare their opinion that it does comply.

What will our audit and risk committee ask us?

The same questions they ask about the financial report, applied to information the committee has never seen before. Expect them on capture and scope, where each number comes from and what controls sit over it, the significant judgements and materiality, who your assurance provider is and whether they are independent of the preparer, and what liability protection applies and until when. It works as a self-test: anything you cannot answer today is a work item.

Glossary›AASB S2 disclosure requirements / AASB S2 mechanics›Governance disclosures (AASB S2)

Glossary term

Cluster C · C13

Tier 1 · differentiator

Governance disclosures (AASB S2)

Definition

The governance disclosures under AASB S2 describe the body or individual responsible for oversight of climate-related risks and opportunities, how that responsibility is assigned, how the body is informed and how often, what relevant skills it has, and management’s role in the process. They are the first pillar and are subject to assurance from the first reporting year.

AASB S2

· paragraphs 5 to 7, with the disclosure content at paragraph 6 ·

In force

On this page

In practice
What the assurer does with it
Timing and relief
Sources
Related terms
Related questions

Cluster

C · AASB S2 disclosure requirements / AASB S2 mechanics, 25 terms

In practice

These are the disclosures most often left to last and they are the ones assured first. Under ASSA 5010 the governance disclosures are within scope of limited assurance in each group’s first reporting year, alongside Scope 1 and Scope 2 emissions and the strategy risk and opportunity disclosures.

The disclosure is about the arrangements, not about performance. It asks who is responsible, how they are informed, and whether they have the skills. That is testable.

What the assurer does with it

The assurer looks for evidence, and governance evidence is documentary. Expect requests for board and committee charters showing where climate responsibility sits, board and committee minutes showing climate matters were actually considered, the papers that went with those minutes, the skills matrix, and any training records.

The finding that follows is specific and common: the charter says the audit and risk committee oversees climate risk, and the minutes for the year show it was never discussed. A disclosure describing oversight that leaves no trace in the minutes is the governance equivalent of a hardcoded spreadsheet cell. They accept a charter, dated minutes and the underlying papers that together show the described oversight operated during the period. They reject a governance description with no minute behind it, a skills claim with no matrix or training record, and an arrangement documented after year end.

Timing and relief

Governance disclosures are inside the limited assurance scope from each entity’s first reporting year under ASSA 5010 paragraph 10(a)(i), and move to reasonable assurance with all other disclosures from the fourth reporting year under paragraph 10(c). There is no Appendix C transitional relief from the governance pillar itself.