This report has been substantiated by Ernst & Young, the BP group auditors. The primary purpose of the report substantiation process is to test that the assertions, claims and data set out in the text regarding BP’s sustainability performance can be supported by evidence. This process is intended to give assurance about the report contents from an independent third party. Ernst & Young’s scope of work and their conclusions are provided below.
Independent assurance statement to BP managementThe BP Australia Sustainability Report 2007/08 (the Report) has been prepared by the management of BP Australia, who are responsible for the collection and presentation of information within it. Our responsibility, in accordance with BP management’s instructions, is to carry out a limited assurance engagement on the Report as outlined below, in order to provide conclusions on the claims, data and coverage of issues within it.
Our responsibility in performing our assurance activities is to the management of BP p.l.c. only and in accordance with the terms of reference agreed with them. We do not therefore accept or assume any responsibility for any other purpose or to any other person or organisation. Any reliance that any such third party may place on the Report is entirely at its own risk.
What we did to form our conclusionsOur assurance engagement has been planned and performed in accordance with the International Federation of Accountants’ ISAE30001.
The Report has been evaluated against the following criteria:
- Whether the Report covers the key sustainability issues relevant to BP in Australia in 2007/08 which were raised in the media, BP Australia’s own review of material sustainability issues, and selected internal documentation.
- Whether sustainability claims made in the Report are consistent with the explanation and evidence provided by relevant BP managers.
- Whether the sustainability data presented in the Report are consistent with the relevant business unit level data records.
1.Reviewed a selection of external media reports and internal documents relating to the sustainability performance of BP in Australia in 2007/08, including risk assessments, ethics certificates and stakeholder feedback.
2.Reviewed the outcome of BP Australia’s own process for determining the key issues to be included in the Report.
3.Reviewed information or explanation about the Report’s sustainability performance data and statements. Whilst we reviewed documentation to support the sustainability data contained within the Report, we did not test the processes for gathering, collating and reporting data at country or site level.
Level of assuranceOur evidence gathering procedures have been designed to obtain a limited level of assurance on which to base our conclusions. 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.
Our conclusionsOn the basis of our review and in accordance with the terms of reference for our work we provide the following conclusions on the Report. Our conclusions should be read in conjunction with the above section on ‘What we did to form our conclusions’.
1. Does the Report cover the key issues?
We are not aware of any key sustainability issues relevant to BP Australia which were raised in the media or the outcome of BP Australia’s own materiality process that have been excluded from the Report.
2. Are the data and statements regarding BP Australia’s sustainability performance contained within the Report supported by evidence or explanation?
We are not aware of any misstatements in the assertions and data presented by BP management within the Report regarding BP Australia’s sustainability performance.
Our independenceAs auditors to BP p.l.c., Ernst & Young are required to comply with the independence requirements set out in the Institute of Chartered Accountants in England & Wales (ICAEW) Guide to Professional Ethics. Ernst & Young’s independence policies, which address and in certain places exceed the requirements of the ICAEW, apply to the firm, partners and professional staff. These policies prohibit any financial interests in our clients that would or might be seen to impair independence. Each year, partners and staff are required to confirm their compliance with the firm’s policies. We confirm annually to BP whether there have been any events including the provision of prohibited services that could impair our independence or objectivity. There were no such events or services in 2007/08.
Ernst & Young LLP
1International Federation of Accountants’ International Standard for Assurance Engagements Other than Audits or reviews of Historical Financial Information (ISAE3000).