Independent assurance statement
Independent Limited Assurance Report to the Directors of Wesfarmers Limited
We have performed a limited assurance engagement in relation to Wesfarmers Limited’s (‘Wesfarmers’) 2013 - 2014 Sustainability Report (‘the Report’) in order to state whether anything has come to our attention that causes us to believe that the subject matter detailed below, is not presented, in all material respects, in accordance with the criteria as presented below.
The subject matter for our assurance includes the information contained in Wesfarmers’ Sustainability Report as presented on its website for the year ended 30 June 2014. Specifically:
The criteria for our procedures (‘the criteria’) are:
The management of Wesfarmers and its divisions (‘Management’) is responsible for the collection, preparation and presentation of the subject matter in accordance with the criteria and for maintaining adequate records and internal controls that are designed to support the sustainability reporting process.
Assurance Practitioner’s Responsibility
Our responsibility is to express a limited assurance conclusion as to whether the subject matter is presented in accordance with the criteria. Our assurance engagement has been planned and performed in accordance with the Australian Standard on Assurance Engagements 3000 (revised) Assurance Engagements Other Than Audits or Reviews of Historical Financial Information (‘ASAE 3000’) and Assurance Engagements on Greenhouse Gas Statements (‘ASAE 3410’).
Level of Assurance
A limited assurance engagement consists of making enquiries and applying analytical, controls testing and other evidence-gathering procedures that are sufficient for us to obtain a meaningful level of assurance as the basis for a negative form of conclusion. The procedures performed depend on the assurance practitioner’s judgment including the risk of material misstatement of the specific activity data, whether due to fraud or error. While we considered the effectiveness of Management’s internal controls when determining the nature and extent of our procedures, our review was not designed to provide assurance on internal controls. We believe that the evidence we have obtained is sufficient and appropriate to provide a basis for our conclusion. The procedures performed in a limited assurance engagement vary in nature, and are less in extent than for a reasonable assurance engagement. As a result, the level of assurance obtained in a limited assurance engagement is substantially lower than the assurance that would have been obtained had we performed a reasonable assurance engagement.
Our assurance procedures performed included, but were not limited to:
There are inherent limitations in performing assurance – for example, assurance engagements are based on selective testing of the information being examined – and it is possible that fraud, error or non-compliance may occur and not be detected. There are additional inherent risks associated with assurance over non-financial information including reporting against standards which require information to be assured against source data compiled using definitions and estimation methods that are developed by the reporting entity. Finally, adherence to AA1000 and GRI principles is subjective and will be interpreted differently by different stakeholder groups.
Our assurance was limited to the Sustainability Report 2014 as presented on Wesfarmers’ website and did not include financial data or forward looking statements of Management; nor whether the report met the GRI application level self-assessed by Wesfarmers, and confirmed by GRI.
Use of Report
Our responsibility in performing our assurance activities is to the directors of Wesfarmers only and in accordance with the terms of reference for this engagement as agreed with them. We do not therefore accept or assume any responsibility for any other purpose or to any other person or organisation. Any reliance any such third party may place on the Report is entirely at its own risk. No statement is made as to whether the criteria are appropriate for any third party purpose.
Our Independence and Assurance Team
The firm and all professional personnel involved in this engagement have met the independence requirements of Australian or International professional ethical requirements. Our team has the required competencies and experience for this assurance engagement.
Based on our limited assurance procedures as described in this statement, nothing has come to our attention that causes us to believe that the subject matter as presented in the Report as presented on Wesfarmers’ website is not presented, in all material respects, in accordance with the criteria detailed above.
Ernst & Young
17 October 2014
London Benchmarking Group
The LBG model helps businesses improve the measurement, management and reporting of their corporate community investment programs. It covers the full range of contributions (cash, time and in-kind donations) made to community causes.
As managers of LBG Australia & New Zealand, we can confirm that we have worked with Wesfarmers Ltd* to verify its understanding and application of the LBG model with regard to the wide range of community programs supported.
Our aim has been to ensure that the evaluation principles have been correctly and consistently applied and we are satisfied that this has been achieved. It is important to note that our work has not extended to an independent audit of the data.
We can confirm that Wesfarmers Ltd* has invested $39,795,070 (exclusive of management costs) in the community in this 2014 reporting year as defined by LBG methodology.
*LBG verification included Coles, Target, Wesfarmers Resources, Wesfarmers Chemicals, Energy & Fertilisers & Wesfarmers Corporate Office.
Verified by Simon J. Robinson & Jessica Pattison
On behalf of LBG Australia & New Zealand