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INDEpENDENT assURaNCE REPORT (Translation from the Finnish Original) INDEpENDENT assuRaNCE REPORT TO THE MANAGEMENT OF KESKO CORPORATION We have been engaged by the Management of Kesko Corporation to perform a limited assurance engagement on the information on economic, social and environmental responsibility for the reporting period of January 1, 2011 to December 31, 2011 disclosed in Kesko Corporation’s Corporate Responsibility Report 2011 (hereinafter “Corporate Responsibility information”). MANAGEMENT’S RESPONSIBILITy The Management of Kesko Corporation is responsible for preparing the Corporate Responsibility information according to the Reporting criteria as set out in Kesko Corporation’s corporate responsibility reporting instructions, the Sustainability Reporting Guidelines of the Global Reporting Initiative (version 3.0), as well as AA1000 Accountability Principles Standard 2008 issued by AccountAbility. PRACTITIONER’S RESPONSIBILITy Our responsibility is to express a conclusion on the Corporate Responsibility information based on our work performed. Our assurance report has been made in accordance with the terms of our engagement. We do not accept, or assume responsibility to anyone else, except to Kesko Corporation for our work, for this report, or for the conclusions that we have reached. We conducted our work in accordance with the International Standard on Assurance Engagements (ISAE) 3000 ‘Assurance engagements other than audits or reviews of historical financial information’. This Standard requires that we comply with ethical requirements and plan and perform the assurance engagement to obtain limited assurance whether any matters come to our attention that cause us to believe that the Corporate Responsibility information has 92 Kesko Corporate Responsibility Report 2011 not been prepared, in all material respects, in accordance with the Reporting criteria. In addition, we have conducted our work in accordance with the AA1000 Assurance Standard 2008. For conducting a Type 2 assurance engagement as agreed with Kesko Corporation the AA1000 Assurance Standard 2008 requires planning and performing of the assurance engagement to obtain limited assurance on whether any matters come to our attention that cause us to believe that Kesko Corporation does not adhere, in all material respects, to the AA1000 Accountability Principles (inclusivity, materiality and responsiveness) and that the Corporate Responsibility information is not reliable, in all material respects, based on the Reporting criteria. In a limited assurance engagement the evidence-gathering procedures are more limited than for a reasonable assurance engagement, and therefore less assurance is obtained than in a reasonable assurance engagement. An assurance engagement involves performing procedures to obtain evidence about the amounts and other disclosures in the Corporate Responsibility information. The procedures selected depend on the practitioner’s judgement, including an assessment of the risks of material misstatement of the Corporate Responsibility information. Our work consisted of, amongst others, the following procedures: ■ Interviewing senior management of Kesko Corporation. ■ Interviewing relevant employees from various organisational levels of Kesko Corporation with regards to stakeholder expectations towards Kesko Corporation, the meeting of those expectations as well as stakeholder engagement. ■ Assessing stakeholder engagement and responsiveness based on Kesko Corporation’s documentation and internal communication. ■ Assessing Kesko Corporation’s defined material corporate responsibility aspects as well as assessing Corporate Responsibility information based on these aspects. ■ Performing a media analysis and an internet search for references to Kesko Corporation during the reporting period. ■ Interviewing persons responsible for the collection and reporting of Corporate Responsibility information at group level as well as at site level in Russia. ■ Assessing the systems and practices used for the collection and consolidation of quantitative information. ■ Testing the accuracy of the information from original documents and systems on a sample basis. ■ Testing the consolidation of information and performing recalculations on a sample basis. CONCLUSION Based on our limited assurance engagement nothing has come to our attention that causes us to believe that Kesko Corporation does not adhere, in all material respects, to the AA1000 Accountability Principles. Furthermore nothing has come to our attention that causes us to believe that Kesko Corporation’s Corporate Responsibility information has not been prepared, in all material respects, in accordance with the Reporting criteria, or that the Corporate Responsibility information is not reliable, in all material respects, based on the reporting criteria. Our assurance report should be read in conjunction with the inherent limitations of accuracy and completeness for Corporate Responsibility information. This independent assurance report should not be used for interpreting Kesko Corporation’s performance in relation to its corporate responsibility principles.
OBSERvATIONS AND RECOMMENDATIONS Based on our limited assurance engagement we provide the following observations and recommendations in relation to adherence to the AA1000 AccountAbility Principles. These observations and recommendations do not affect the conclusions presented earlier. ■ Regarding Inclusivity: Kesko Corporation has a strong commitment to stakeholder engagement. The company uses a systematic stakeholder engagement process to ensure that the stakeholder expectations and suggestions are taken into consideration in the development of the activities of Kesko Corporation. We recommend that Kesko Corporation further develops the management of stakeholder engagement with special focus on the management of stake- Helsinki, 3 April 2012 PricewaterhouseCoopers Oy Johan Kronberg Authorised Public Accountant holder engagement at different organisational levels. ■ Regarding Materiality: Kesko Corporation has processes in place to determine the material corporate responsibility aspects. We recommend that Kesko Corporation revises its materiality analysis with those issues that arise during the update of its corporate responsibility program. ■ Regarding Responsiveness: Kesko Corporation is committed to being responsive to its stakeholders, which is evident from the ongoing and wideranging communication on corporate responsibility issues in media, forums and other communication channels, such as social media. We recommend that Kesko maintains communication with consumers in social media and utilises social media in the communication of corporate responsibility. We Sirpa Juutinen Partner Sustainability & Climate Change INDEpENDENT assURaNCE REPORT also recommend that Kesko Corporation increases the corporate responsibility communication to its personnel, and that corporate responsibility issues are increasingly brought forward to consumers in stores. PRACTITIONER’S INDEPENDENCE AND qUALIFICATIONS PricewaterhouseCoopers’ own Global Independence Policy is applicable to PricewaterhouseCoopers Oy, its partners and professional staff, including all members of the assurance engagement team. Our multi-disciplinary team of corporate responsibility and assurance specialists possesses the requisite skills and experience within financial and non-financial assurance, corporate responsibility strategy and management, social and environmental issues as well as knowledge of the retail to undertake this assurance engagement. Maj-Lis Steiner Director, Authorised Public Accountant Sustainability & Climate Change Kesko Corporate Responsibility Report 2011 93
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CORPORATE 2011 RESPONSIBILITY REPOR
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