Report assurance can be catalyst for change

Industry leaders are increasingly using report assurance as a catalyst for change, and to drive engagement with senior management on sustainability.

This was one of the findings of a roundtable organised by Two Tomorrows and attended by delegates from companies including Coca-Cola Enterprises, BT and John Lewis Partnership.

“Report assurance helps bridge the gap between what a company says and what a reader believes,” says Jason Perks, Two Tomorrows group director. “As well as helping identify material data, KPIs and industry issues, experienced reporters are using assurance to drive engagement with senior management, who are increasingly listening to assurance providers as an external voice."

The importance of assurance in increasing stakeholder confidence in a report, and increasing rigour in reporting, are among the other main benefits assurance brings.

The use of stakeholder panels is widely recognised as beneficial, but varying formats and objectives mean the process needs careful management to deliver value. The interest in stakeholder panels as part of an innovative assurance approach, and how it integrates into the process, is a clear sign that more companies will look to adopt this in future.

We invited Guardian Media Group, BP and Balfour Beatty to participate in the roundtable as panel members to share their varied experiences with delegates. Of stakeholder panels, Jonathan Garrett, group head of environment at Balfour Beatty, said they are of huge value to the company, a continuous learning process yet throwing up constant challenges. He added that for Balfour Beatty any assurance process without the involvement of stakeholder panels would be a backward step. 

Jason Perks concludes: “The assurance processes should be designed to test the interaction between sustainability management and the core business strategy and performance, resulting in an opinion that is more meaningful to internal and external stakeholders. Assurance processes will continue to evolve as organisations themselves develop their approach to reporting.”

Two Tomorrows will continue to promote leadership and innovation in assurance, and is planning another roundtable on this subject in the autumn

To request a copy of the full report of the event, email rob.pearson@twotomorrows.com.

This was the latest in a series of roundtables hosted by Two Tomorrows. View upcoming events and training courses