Independent Assurance Report on Selected Sustainability Information to the Directors of Nedbank Group Limited
We have undertaken an assurance engagement on selected sustainability information, as presented in the 2012 Nedbank Group Integrated Report (the Report) of Nedbank Group Limited (Nedbank) for the year ended
31 December 2012.
The subject matter of our engagement and related assurance we are required to provide is as follows:
| 1 | Limited assurance on Nedbank's assertions relating to their alignment with the AA1000APS (2008) principles (inclusivity, materiality and responsiveness) as described on page 6 of the Report. |
| 2 | Limited assurance on the key performance indicators, identified by a P on the relevant pages of the Report, as described in the table below. |
| 3 | Limited assurance on Nedbank's self declaration of the Global Reporting Initiative (GRI) G3.1 A+ application level online. |
The Directors of Nedbank are responsible for the selection, preparation and presentation of the sustainability information, the identification of stakeholders and stakeholder reporting requirements, material issues, for commitments with respect to sustainability performance, establishing and maintaining appropriate performance management and internal control systems from which the reported information is derived, and for such internal control as the directors determine is necessary to enable the preparation of the Report that is free from material misstatement, whether due to fraud or error. The Directors are also responsible for the selection and application of the criteria detailed below:
We have complied with the International Federation of Accountants (IFAC) Code of Ethics for Professional Accountants which includes comprehensive independence and other requirements founded on fundamental principles of integrity, objectivity, professional competence and due care, confidentiality and professional behaviour. Our engagement was carried out by a multi-disciplinary team with extensive experience in sustainability reporting.
Our responsibility is to express limited assurance conclusions on the selected sustainability information based on our work performed. We have conducted our engagement in accordance with the International Standard on Assurance Engagements (ISAE 3000), Assurance engagements other than the Audits or Reviews of Historical Financial Information. That Standard requires that we plan and perform our engagement to obtain limited assurance about whether the selected sustainability information is free from material misstatement.
Our procedures selected and the extent of our procedures depend on our judgment including the risks of material misstatement of the selected sustainability information in the Report, whether due to fraud or error. In making our risk assessments, we considered internal control relevant to Nedbank's preparation of the Report. In a limited assurance engagement, the evidence gathering procedures are less than where reasonable assurance is expressed. We believe the evidence we have obtained is sufficient and appropriate to provide a basis for our limited assurance conclusion.
Our work included the following evidence-gathering procedures:
| 1 | On the AA1000APS (2008) principles of Inclusiveness, Materiality and Responsiveness on which we are required to express limited assurance. Based on our work performed, nothing has come to our attention that causes us to believe that Nedbank's assertions relating to their alignment with the AA1000APS (2008) principles of inclusivity, materiality and responsiveness, described on page 6, is not properly prepared. |
| 2 | On the selected key performance indicators on which we are required to express limited assurance. Based on our work performed, nothing has come to our attention that causes us to believe that the selected key performance indicators set out in the table above for the year ended 31 December 2012 are not fairly stated, in all material respects, in accordance with the GRI G3.1 Guidelines. |
| 3 | On Nedbank's self-declaration on the GRI G3.1 A+ Application level on which we are required to express limited assurance. Based on our work performed, nothing has come to our attention that causes us to believe that Nedbank's self-declaration of an A+ application level is not fairly stated in all material respects, in accordance with the GRI G3.1 Guidelines. |
Our work has been undertaken to enable us to express the conclusions contained in this report solely to the addressee in accordance with the terms of our engagement, and for no other purpose. We do not accept or assume liability to any party other than the Directors of Nedbank, for our work, for this report, or for the conclusions we have reached.
KPMG Services (Pty) Limited KPMG Policy board The company's principal place of business is at KPMG |
Deloitte & Touche National Executive LL Bam (Chief Executive), A full list of partners and directors is available on request. |
7 March 2013
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