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Our conclusions

We have reviewed the Integrated Report prepared by the International Integrated Reporting Council (IIRC) in accordance with the terms of our engagement letter dated 20 August 2019. We have agreed to provide a report that will provide limited assurance that the Integrated Report has been prepared in accordance with the International <IR> Framework.

Our evidence gathering procedures were designed to obtain a ‘limited level’ of assurance in accordance with the International Standard on Assurance Engagements (ISAE) 3000 (Revised), Assurance Engagements other than the Audits or Review of Historical Financial Information, issued by the International Auditing and Assurance Standards Board. The extent of evidence gathering procedures performed is less than that of a reasonable assurance engagement (such as a financial audit) and therefore a lower level of assurance is provided.

We believe that the assurance evidence we have obtained is sufficient and appropriate to provide a basis for our conclusion.

Based on the procedures we have performed and the evidence we have obtained, nothing has come to our attention that causes us to believe that the Integrated Report for the year ended 31 December 2019 is not prepared, in all material respects, in accordance with The International <IR> Framework.

Responsibilities of the directors and those charged with governance

The Directors of IIRC are responsible for preparation and the presentation of the Integrated Report in accordance with the International <IR> Framework. This responsibility includes: i) the identification of stakeholders and stakeholders’ requirements; ii) the identification of material issues; iii) the design, implementation and maintenance of internal control relevant to the preparation of the report such that it is free from material misstatement, where due to fraud or error.

Our responsibility

Our responsibility is to plan and perform our limited assurance engagement so that we are able to express our limited assurance conclusion on whether anything has come to our attention that causes us to believe that the Integrated Report is not prepared, in all material respects, in accordance with the International <IR> Framework.

The limitations of our review

The Integrated Report includes prospective information such as strategies, plans, expectations, estimates and risk assessments. Inherent to prospective information, the actual future results are uncertain. We do not provide any assurance on the assumptions and achievability of prospective information in the Integrated Report.

Summary of work performed

  • Reviewed the report to assess whether it has been prepared in line with the Guiding Principles of the International <IR> Framework.
  • Read the report to ensure that all eight ‘Content Elements’ of the International <IR> Framework are included.
  • Read minutes of meetings of relevant committees to understand the progress made by the IIRC in the year in pursuit of its objectives.
  • Reviewed the coverage of material issues within the report against the Board minutes, which set out the IIRC’s strategic objectives, and other relevant information.
  • Confirmed that selected data, statements and assertions within the report regarding the IIRC’s activities which, based on our professional judgement, we considered most significant, have been extracted appropriately from underlying documentation and appropriate external sources.

Our independence

ISAE 3000 requires us to comply with the requirements of Parts A and B of the Code of Ethics for Professional Accountants, issued by the International Ethics Standards Board for Accountants (the IESBA Code). This Code requires, among other things, that the members of the assurance team as well as the assurance firm being independent of the assurance client, including not being involved in writing the Report, and that they plan and perform the engagements to obtain limited assurance about whether data are free from material misstatement. The Code also includes detailed requirements regarding integrity, objectivity, professional competence and due care, confidentiality and professional behaviour. Crowe U.K. LLP has systems and processes in place to monitor compliance with the Code and to prevent conflicts regarding independence. Our independence from the client is reviewed on an annual basis.

The use of our report

To the fullest extent permitted by law, we do not accept or assume any responsibility to anyone other than IIRC for our work, for this independent assurance report, or for the conclusions we have reached.

Crowe U.K. LLP
Chartered Accountant
St Bride’s House
10 Salisbury Square

Date: 4 May 2020