Objective of Review
We were asked by the Management of ITC Limited (“ITC”) to provide an
“Independent Assurance” for its Corporate Sustainability Report
(“Report”) for the period April 1, 2004 to March 31, 2005. The review was
carried out in line with current and emerging expectations for sustainability reporting as
outlined in Global Reporting Initiative’s (“GRI”) 2002 Guidelines
(“Guidelines”) and embodied in the eleven Reporting Principles of Part B of GRI
(“Reporting Principles”).
Responsibilities during Review
The Management of ITC is responsible for the collection and presentation of the
financial and non-financial information in the Report. Our responsibility, as agreed with
the Management, is to express conclusions with limited assurance on select data and
information contained in the Report in accordance with the International Standard on
Assurance Engagements 3000 (“ISAE 3000”).
The Report and its contents are the responsibility of the management of ITC, while the
Independent Assurance Report is the responsibility of PricewaterhouseCoopers Private
Limited.
Scope of Review
The scope of the review included:
| a) |
Review of certain statements and
data relating to ITC’s operations and to provision of limited assurance in
respect of these statements and data; |
| b) |
Checking of monitoring and reporting
procedures to support reliable disclosure in the Report; |
| c) |
Assessment whether the Report
provides an appropriate representation of existing policies in the areas of human
resources, environment and community involvement; |
| d) |
Checking of the data stated at
the following indicators:
 Total amount
of waste by type and
generation (EN 11)
Environmental
Performance of suppliers
(EN 33)
Policies and
Programs for HIV/AIDS
(LA 8) |
|
 |
Average hours of training (LA 9)
Human rights
during investment/procurement (HR 2)
Human rights
performance within the supply chain
(HR 3)
Non-discrimination in operations (HR 4)
Freedom of
Association (HR 5)
Child Labour
(HR 6)
Forced and
Compulsory Labour (HR 7)
Impact on
Communities (SO 1)
Political
Contributions (SO 3 and SO 5)
Basis for Assurance
We planned and performed our work in accordance with the ISAE 3000 to obtain limited
assurance.
Since the Report has been prepared in line with GRI 2002 guidelines, hence these
Guidelines and the Reporting Principles formed the basis for providing assurance.
We sought all information and explanations that we considered necessary to provide
sufficient evidence for us to ascertain that the above indicators were consistent with the
activities in the units for the financial period; and were documented and stated in
accordance with the guidelines stated under their environmental and social policies.
Assurance procedures carried out
Our work consisted of:
| a) |
a desktop review of external
economic, environmental
and social issues facing ITC; |
| b) |
interviews with senior management
responsible for
environmental, marketing, safety, suppliers/partners,
legal, human resource and finance related issues; |
| c) |
examination of documentation on
economic, environmental and social policies, practices,
performance, governance etc.; |
| d) |
an understanding and assessment of
systems for data generation, collection, analysis, consolidation and reporting at business
unit, divisional and group level; |
|
Independent Assurance Report
