Assurance: 3.13

  • 3.13 Policy and current practice with regard to seeking external assurance for the report.

    Integrated Report 2014:
    Consolidated Annual Financial Statements 2014:
    Corporate governance report 2014:

    In line with an integrated management approach, the group’s appointed external auditors, Deloitte, provide third party assurance of financial aspects as well as identified material non- financial indicators. The risk and sustainability committee endorse the material indicators identified for assurance. In addition, Deloitte also assure the group’s self-declaration of its GRI (G3.1) Application Level. Close monitoring of best practice and emerging trends, as well as consultation with assurance practitioners’ ensure alignment of the Group’s assurance practices.

    Data-compilation systems and processes were also assessed by both internal and external auditors and found to be sound. Where recommendations have been made, every effort has been made to implement these to ensure that the group operates a leading data collation, consolidation and reporting system.

    The group’s internal audit function continues to be involved in the assurance process for non-financial data, particularly of fuel, water and electricity data. This year the Equipment southern Africa, Equipment Russia (Vostochnaya Technica) and Handling South Africa were formally reviewed by the group’s internal audit function. The principal issue centred on the structure of the data collection process. This has been addressed by ensuring this data is collected using the financial reporting platform.

    None of the operations listed above have scored below a ‘Satisfactory’ internal audit rating, which provides management with added confidence that reporting systems are functioning as intended with sound controls around completeness and accuracy. Recommendations made have been mostly implemented to further improve the data collection and reporting process. In addition to the above, consulting engagements to assess data collection processes and related controls for scope 3 reporting were also conducted at Avis Rent a Car and Avis Fleet Services. The aim was to ensure that there is a high level of confidence in our reporting systems prior to disclosure of scope 3 emissions.

    To assist the group in preparing credible and accurate integrated reporting, an Integrated Reporting Combined Assurance Model which reflects the assurance status of various aspects addressed in the group’s integrated reporting is being developed. While still in its infancy, the completion of this matrix has progressed over the past financial year. The matrix will assist the Audit Committee in fulfilling its responsibility for overseeing the group’s integrated reporting, as defined by the King III principles.

    Independent assurance is provided on the following by the Group’s external auditors (Deloitte):

    Consolidated Annual Financial Statements
    Material aspects of the non-financial data (ISAE 3000)
    GRI Application Level