New York, USA and Paris, France – EcoVadis, the leading platform for corporate social responsibility (CSR) ratings for global supply chains, announced today that it has completed an ISAE 3000 audit engagement with PricewaterhouseCoopers Aktiengesellschaft Wirtschaftpruefungsgeschaft, Frankfurt am Main, Germany (PwC AG).
The ISAE 3000 audit provides third-party validation and testing of the design and operating effectiveness of the company’s processes, quality procedures, and security practices. This audit goes beyond the previous ISAE 3000 audit that EcoVadis completed last year and validates the implementation of processes by examining samples of actual operational activities not only for a specified date but throughout the first six months of 2016.
“EcoVadis has worked very hard to create a CSR rating system that is reliable and consistent over time, and offers comparability so that suppliers can be benchmarked across the wide variety of sectors and countries that our customers’ supply chains cover,” said Frederic Trinel, co-CEO of EcoVadis. “With this achievement our customers and stakeholders can be confident in our commitment to creating reliable CSR indicators that help their procurement teams to make better purchasing decisions, reduce risk and drive innovation in their supply base.”
Audit criteria were selected to ensure the comparability and reliability of the rating results, for example such that scores can be compared and benchmarked among suppliers in over 150 sectors, all company sizes, and over 110 countries. The audit criteria also encompassed IT security, based on generally accepted requirements of an Information Security Management System (ISMS) as outlined in the ISO 27001 standard.
The ISAE 3000 audit engagement comprised the business processes of CSR document analysis, rating and scorecard creation including: communications with suppliers, registration process, methodology of assessment and scoring, support provided to clients and suppliers as well as IT processes that support the development, maintenance, operation and security of the platform. EcoVadis provided documentation to PwC about the main functionalities of the online platform and their internal processes. PwC reviewed the documentation, conducted interviews with selected EcoVadis personnel and examined supporting evidence to reassure that measures are implemented as described in the documentation and operated effectively throughout the period from January 1 through June 30, 2016.
PwC conducted the audit in accordance with the International Standard on Assurance Engagements (ISAE) 3000, “Assurance Engagements Other than Audits or Reviews of Historical Financial Information”, issued by the International Auditing and Assurance Standards Board. Results are documented in a report that covers the main platform functionalities and the design and implementation of processes and controls that are relevant to provide the CSR rating service.
EcoVadis is the first collaborative platform providing sustainability ratings and performance improvement tools for global supply chains. EcoVadis’ easy-to-use CSR scorecards help companies to monitor suppliers’ environmental, ethical, and social practices across 150 purchasing categories and 110 countries.
Over 150 industry leaders such as Verizon, GSK, Coca Cola Enterprises, Nestle, Johnson & Johnson, Renault, ING Bank, and Subway use EcoVadis to reduce risk, drive innovation, and foster transparency and trust among over 30,000 trading partners. To learn more about EcoVadis, visit www.EcoVadis.com.
Marketing Director, EcoVadis
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