Independent assurance report
To the Board of Management of Wärtsilä Oyj Abp
We have been engaged by the Board of Management of Wärtsilä Oyj Abp (hereafter: Wärtsilä) to provide limited assurance on Wärtsilä’s Sustainability Information from the reporting period 1.1.-31.12.2011 presented in connection with the electronic Wärtsilä Annual Report 2011.
The sustainability information subject to the limited assurance engagement (hereafter: the Sustainability Information) includes the data and assertions presented in the “Sustainability” -section and its sub-sections in the Report, as well as the following sub-sections of the “Business” section: “Ship Power and Sustainability”, “Power Plants and Sustainability”, and “Services and Sustainability”. The Sustainability Information also includes data and assertions in the Inside Stories specifically marked with “Sustainability assured 2011”, as well as on product sustainability performance presented on selected and marked pages at www.wartsila.com.
The Board of Management of Wärtsilä is responsible for the presented Sustainability Information as well as for preparing and presenting the Sustainability Information in accordance with the Global Reporting Initiative (GRI) Sustainability Reporting Guidelines 3.0. The Board of Management of Wärtsilä has approved the presented Sustainability Information.
Our responsibility is to carry out a limited assurance engagement and to express a conclusion on the Sustainability Information subject to the assurance based on the work performed. We have conducted the engagement in accordance with the International Standard on Assurance Engagements (ISAE 3000): Assurance engagements other than audits or review of historical financial information, issued by the International Auditing and Assurance Standards Board. Amongst others, this standard requires that the assuring party complies with the requirements of the IFAC Code of Ethics for Professional Accountants to ensure their independence. Our assurance report is made in accordance with the terms of our engagement with Wärtsilä. We do not accept or assume responsibility to anyone other than Wärtsilä for our work, for this assurance report, or for the conclusions we have reached.
The evaluation criteria used for our assurance are the Global Reporting Initiative (GRI) Sustainability Reporting Guidelines 3.0.
Limitations of the engagement
Sustainability related data and information are subject to inherent limitations applying to data accuracy and completeness, which are to be taken into account when reading our assurance report. The presented Sustainability Information is to be considered in connection with the explanatory information on data collection, consolidation and assessments provided by Wärtsilä. Our assurance report is not intended for use in evaluating Wärtsilä’s performance in executing the sustainability principles Wärtsilä has defined. To assess the financial state and performance of Wärtsilä, the Wärtsilä audited Financial Statements for the year ended 31 December 2011 is to be consulted.
The work performed in the engagement
Our assurance procedures are designed to obtain limited assurance on whether the information subject to the assurance engagement is presented in accordance with the Sustainability Reporting Guidelines of the Global Reporting Initiative 3.0 in all material respects. A limited assurance engagement consists of making inquiries, primarily of persons responsible for the preparation of the sustainability information presented, and applying analytical and other evidence gathering procedures, as appropriate. The evidence gathering procedures mentioned above are more limited than for a reasonable assurance engagement, and therefore less assurance is obtained than in a reasonable assurance engagement.
In our engagement we have performed the following procedures:
- Interviews with two members of senior management to reassert our understanding of the connection between Wärtsilä’s sustainability procedures and Wärtsilä’s business strategy and operations as well as sustainability objectives;
- An assessment of data management processes, information systems and working methods used at the Head Office to gather and consolidate the presented Sustainability Information, and a review of Wärtsilä’s related internal documents and guidelines;
- Comparison of Sustainability Information to underlying rules of procedure, management and reporting systems as well as documentation;
- An assessment of the presented Sustainability Information against the GRI reporting principles;
- A review of the presented Sustainability Information, including the performance data and assertions, subject to the engagement, and an assessment of information quality and reporting boundary definitions;
- Assessment of data accuracy and completeness through a review of the original numerical information received from Wärtsilä’s subsidiaries as well as through samples the Group’s information systems;
- Assessment of the local reporting processes of Wärtsilä’s subsidiaries on a sample basis through two site visits and an additional video conference, conducted to Wärtsilä sites selected on the basis of a risk analysis taking into account both qualitative and quantitative information
Based on the assurance procedures performed, nothing has come to our attention that causes us to believe that the information subject to the assurance engagement is not presented in accordance with the Sustainability Reporting Guidelines of the Global Reporting Initiative 3.0 in all material respects.
Helsinki, 10. February 2012
KPMG OY AB
|Pekka Pajamo||Nina Killström|
|Authorized Public Accountant||Corporate Responsibility Advisor|