To the readers of the AB InBev 2016 Better World Report
We have reviewed the following information within the 2016 Better World Report (hereafter ‘The Selected Information’) of Anheuser-Busch InBev S.A./N.V. (hereafter ‘AB InBev’) based in Leuven, Belgium:
- Reduce water risks and improve water management in 100% of key barley-growing regions, in partnership with local stakeholders (page 7)
- Engage in watershed protection measures at 100% of facilities located in key areas in Argentina, Bolivia, Brazil, China, Mexico, Peru and the United States, in partnership with local stakeholders (page 7)
- Water Use by hectoliter of production and total Water Use (page 7 and 15)
- Total GJ of Energy, Energy usage per hectoliter of production, Total Direct and Indirect GHG Emissions and global GHG Emissions per hectoliter of production (page 7 and 18)
- Reduction in packaging materials (page 7)
- Percentage of eco-friendly cooler purchases (page 7)
- Lost Time Injuries (LTI) – Supply Employees (own), Second tier and Sales Employees (page 27)
- Total Recordable Injuries (TRI) – Supply Employees (own) (page 27)
- Days Lost due to injury – Supply Employees (own) (page 27)
- Fatalities (page 27)
The information reviewed as part of our assurance engagement has been indicated throughout the Better World Report with the symbol ‘A’.
Based on our review, nothing has come to our attention to indicate that The Selected Information is not presented, in all material respects, in accordance with the internally developed criteria as described in the section ‘Report Scope’ (page 31).
We do not provide any assurance on the achievability of the objectives, targets and expectations of AB InBev.
Basis for our conclusion
We have performed our review on The Selected Information in accordance with Dutch law, including Dutch Standard 3000: “Assurance Engagements other than Audits or Reviews of Historical Financial Information”.
This review engagement is aimed to obtain limited assurance. Our responsibilities under this standard are further described in the section ‘Our responsibilities for the review of The Selected Information’ below.
We are independent of Anheuser-Busch InBev S.A./N.V. in accordance with the ‘Verordening inzake de onafhankelijkheid van accountants bij assurance-opdrachten’ (ViO, Code of Ethics for Professional Accountants, a regulation with respect to independence) and other relevant independence regulations in the Netherlands. Furthermore, we have complied with the ‘Verordening gedrags- en beroepsregels accountants’ (VGBA, Dutch Code of Ethics).
We believe that the assurance evidence we have obtained is sufficient and appropriate to provide a basis for our conclusion.
Responsibilities of the Executive Board for The Selected Information
The Executive Board of AB InBev is responsible for the preparation of The Selected Information in accordance with the internally developed criteria as described in the section ‘Report Scope’ (page 31).
The Executive Board is also responsible for such internal control as it determines is necessary to enable the preparation of The Selected Information that is free from material misstatement, whether due to fraud or error.
Our responsibilities for the review of The Selected Information
Our responsibility is to plan and perform the review assignment in a manner that allows us to obtain sufficient and appropriate assurance evidence for our conclusion.
A review is aimed to obtain a limited level of assurance. Procedures performed to obtain a limited level of assurance are aimed at determining the plausibility of information and are less extensive than a reasonable assurance engagement. The level of assurance obtained in review engagements is therefore substantially less than the level of assurance obtained in an audit engagement.
We apply the ‘Nadere voorschriften accountantskantoren ter zake van assurance opdrachten (RA)’ (Regulations for Audit Firms Regarding Assurance Engagements) and accordingly maintain a comprehensive system of quality control including documented policies and procedures regarding compliance with ethical requirements, professional standards and applicable legal and regulatory requirements.
Misstatements can arise from fraud or errors and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the decisions of users taken on the basis of The Selected Information. The materiality affects the nature, timing and extent of our review procedures and evaluation of the effect of identified misstatements on our conclusion.
We have exercised professional judgment and have maintained professional skepticism throughout the review, in accordance with the Dutch Standard 3000, ethical requirements and independence requirements.
Our main procedures consisted of:
- Evaluating the appropriateness of the reporting criteria and its consistent application, including the evaluation of the reasonableness of management’s estimates;
- Evaluating the design and implementation of the reporting systems and processes related to The Selected Information;
- Interviewing relevant staff responsible for providing the underlying data for The Selected Information, carrying out internal control procedures on the data and consolidating the data in the 2016 Better World Report;
- Visits to seven production sites in Argentina, Brazil, Belgium, China, Mexico and the United States of America (two sites) to review the source data and the design and implementation of internal controls and validation procedures at local level;
- An analytical review of data and trends submitted for consolidation at corporate level;
- Reviewing relevant data and evaluating internal and external documentation, based on limited sampling, to assess the accuracy of The Selected Information.
Amsterdam, 26 April 2017
Part of KPMG Advisory N.V.
M.A.S. Boekhold-Miltenburg RA