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Assurance can not only help to strengthen credibility with external audiences, but also for internal purposes, such as assuring managers, executives, and board members that they’re doing the right thing.
Sustainability reporting is a relatively new process, and it can be challenging to report consistent, reliable, and complete data as a routine, especially given the increasing number of disclosure requirements, organisations, and awards bodies. This is where assurance can help by making sure that reporting data is credible.
Integrating financial and non-financial information in reports poses new challenges, and is a major shift from traditional reporting inputs and value calculations.
Some global reporting standards and guidelines:
Challenge: The client requested assurance on their 2014 CSV report, based on the ISAE 3000, the GRI’s G4 Guidelines, and the client’s internal sustainability reporting guidelines.
Solution: We arranged for local communities, societies, and NGOs to verify report data on rural and social development, biodiversity, and the environment.
Results: We provided assurance on the report and verified its GRI application level, which increased recognition, trust and credibility.
Challenge: The client asked us to develop a sustainability strategy and report following the GRi G4 sustainability report development project.
Solution: We reviewed the company’s current sustainability initiatives, interviewed stakeholders, helped the company to compile reporting information from its business units, helped them validate their sustainability direction and develop a preliminary strategy.
Results: We developed a five-year sustainability strategy plan and drafted the client’s 2013 sustainability report following the GRI’s G3.1 guidelines. This resulted in improved information management and increased value in reporting.
Partner, PwC Thailand
Tel: +66 (0) 2844 1000