|To the Management and Stakeholders
of City Developments Limited
was commissioned in May 2009 by City Developments Limited
[CDL] to provide assurance that the content of CDL's
Sustainability Report 2009 is accurate, reliable and
supported by solid data collection systems.
The assurance engagement
covers the Sustainability Report information related
to CDL's strategy and operations in the context of sustainability.
This includes sustainability-related figures, strategy
statements, management systems and associated processes,
policies and procedures. The assurance engagement was
drawn on the ISAE 3000 and AA1000AS standards, which
were used as guidance for the audit process, methodology,
evaluation criteria and assurance report formatting.
an overall moderate level of audit, which includes evidence
gathering from sources with simple data verification.
For qualitative information, the assurance is based
on evidence that the statements truly reflect CDL's
operational and strategic activity.
The following criteria
were used to evaluate quality of the report content;
Accuracy which is defined as the level of correctness
of information in regard to the source it is obtained
from, Reliability which is defined as how the information
is supported by reliable data collection systems and
Integration (for qualitative information) which is defined
as the level of support from the management and the
evidence of implementation.
For substantial elements,
a more detailed audit analysis based on the AA1000 AccountAbility
Principles (materiality, inclusiveness and responsiveness)
was used when possible but did not include in-depth
and multi-level research, statistical analysis, stakeholder
engagement analysis and company performance analysis.
Preparation of the assurance
engagement consisted of sorting report information and
defining audit requirements. Around 160 statements and
data sets were identified in the Sustainability Report
and classified according to the relevant data owners
and the type of evidence required for the audit process.
The audit phase included
12 Interviews to collect evidence of data and obtain
an understanding of the underlying processes. Interviewees
included key individuals from the departments of Environment,
Health & Safety, Human Resource, Projects, Property
& Facilities Management, Corporate Communication,
Corporate Sec Services, Internal Audit, Customer Relationship
Management, Administration and the Senior Management
Team. A small number of employees, suppliers and external
agencies were also interviewed.
Information and answers
collected during the audit were assessed and recommendations
were expressed immediately to allow amendment by the
CSR reporting team.
Overall, a good quality
level of data source and calculation methods was found.
The accuracy of the majority of the elements audited
could directly be validated through the provided proof
of evidence and detailed descriptions of CSR-related
processes, policies and management systems. Reliability
was often enforced by the confirmation of the same evidence
from multiple interviewees.
The audit uncovered a
small number of minor inaccuracies that were due to
incomplete calculation methods. These issues were promptly
assessed and amended by the CSR reporting team. The
rest of the recommendations expressed by Ère-S
covered general improvement of the report, such as modification
of wording and formatting or use of additional information
found during the audit to reinforce the relevance, transparency
and precision of current statements and figures. The
CSR reporting team has taken note of the recommendations
and amended the report accordingly.
In our opinion, the findings
of the assurance engagement provide confidence, within
satisfactory limits, that CDL Sustainability Report
accurately represents the company sustainability profile
and performance for the reporting period. We are confident
that the statements and figures provided in the report
are supported by comprehensive and verifiable data and
that the underlying management processes audited are
aligned with the sustainability strategy and policies
of the company. We are also satisfied that the report
is an appropriate representation of CDL's engagement
to sustainability reflected in the top management of
Moving forward, the following
recommendations have been made:
KPIs, data collection procedures and calculation
methods should be clearly defined and documented
in a protocol to prevent the same minor inaccuracies
found in this report and reinforce its coherence
A more detailed
materiality based assessment should be undertaken
to determine new and strengthen current areas
of focus for the report content. This should also
include processes for stronger stakeholder engagement.
The above findings and
additional suggestions for improvement have been presented
to the management of CDL in a more detailed assurance
is to execute the assurance engagement, prepare the
assurance report and this assurance statement for the
management of CDL alone and for no other purpose. All
information including statements and figures contained
within the CSR report are the responsibility of CDL.
focussed on sustainability performance and activities
of CDL during the reporting period. However, Ère-S
did not confirm whether or not all material issues relating
to stakeholders engagement or sustainability performance
are included in the report and figures or statements
not related to sustainability and already supported
by existing documents, such as the annual report, were
not covered in the audit. These include all or part
of the organisation profile (GRI disclosures 2.1 to
2.10), corporate structure and corporate financial and
economic performance, risk management, technical descriptions
and figures of buildings, equipment and production processes.
Finally, Ère-S did not assure the CSR report
for GRI application level check.
Ère-S has been
engaged by CDL to review the elements of its Sustainability
Report and was not responsible for any prior work on
the report. The activity of Ère-S is independent
to CDL and contains no other financial interest in the
business operation of CDL.
is a consulting company specialised in business sustainability
and provides services in the domains of CSR strategy
design and implementation, stakeholder engagement, sustainability
reporting and training.