Independent Assurance Report
To the Board of Directors of Public Joint Stock Company Uralkali on the selected performance indicators disclosed in Integrated Report and stated in GRI tables 2016 for the year ended 31 December 2016
We have been engaged by Board of Directors of Public Joint Stock Company Uralkali to provide limited assurance on the selected performance indicators disclosed in the Integrated Report and stated in the GRI Tables 2016.
Management’s Responsibility for the Subject Matter
The Directors are responsible for the preparation of the Integrated Report and GRI Tables 2016 and for the information and statements contained within it. They are responsible for determining the goals, performance and for establishing and maintaining appropriate performance management and internal control systems from which the reported information is derived.
Scope of Limited Assurance Engagement
Our responsibility is to independently express a conclusion on the selected performance indicators disclosed in the Integrated Report and included in the GRI Tables 2016 and as defined within the scope of work above to Uralkali in accordance with our engagement letter and ISAE 3000. Our work has been undertaken so that we might state to Uralkali those matters we are required to state to them in this report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than Uralkali for our work, for this report, or for the conclusions we have formed.
We carried out limited assurance procedures in accordance with International Standard on Assurance Engagements 3000 (revised) (“ISAE 3000 (revised)”). To achieve limited assurance ISAE 3000 (revised) requires that we review the processes and systems used to compile the areas on which we provide limited assurance. It does not include detailed testing of source data or the operating effectiveness of processes and internal controls. It provides less assurance and is substantially less in scope than a reasonable assurance engagement.
The evaluation criteria used for our assurance are the GRI G4 Reporting Guidelines.
Our key assurance procedures
Our assurance procedures in this engagement were limited primarily to recalculation of the respective ratios derived by management from the financial statements and their comparison to the target ratios, thus providing less assurance and is substantially less in scope than a reasonable assurance engagement.
To form our conclusions, we undertook the following procedures:
- interviewed management and those with operational responsibility in relevant areas;
- understood, analysed and tested on a sample basis the key processes, proceduresand controls relating to the collation, aggregation, validation and reporting processesof the selected performance indicators in the Integrated Report and GRI Tables; and
- reviewed the contents of the Integrated Report and GRI Tables against the findingsof the aforementioned procedures and, as necessary, provided recommendations forimprovement.
We planned and performed our work to obtain all the information and explanations we considered necessary to provide sufficient evidence to support our assurance conclusion. Our work was planned to mirror Uralkali’s own compilation processes, tracing how data for each indicator within our limited assurance scope was collected, collated, validated and included in the Integrated Report and GRI Tables 2016.
We complied with ZAO “Deloitte&Touche CIS’”s independence policies, which address and, in certain cases, exceed the requirements of the International Ethics Standards Board for Accountants Code of Ethics for Professional Accountants in their role as independent auditors.
Based on the scope of our work and the assurance procedures we performed we conclude that nothing has come to our attention that causes us to believe that selected performance indicators disclosed in the Integrated Report and included in the GRI Tables 2016 for the year ended 31 December 2016 is not prepared, in all material respects, in accordance with the applicable criteria.
29 March 2017
Certificate of state registration # 1128 issued on 14 October 1992 by the Berezniki Administration, Perm region
Certificate of registration in the Unified State Register of Legal Entities # 1025901702188 issued on 11 September 2002
Location: 63 Pyatiletki ul., Berezniki, 618426, the Perm region
Certificate of state registration # 018.482, issued by the Moscow Registration Chamber on 30.10.1992.
Primary State Registration Number: 1027700425444
Certificate of registration in the Unified State Register # 77 004840299 of 13.11.2002, issued by Moscow Interdistrict Inspectorate of the Russian Ministry of Taxation # 39.
Member of Self-regulated organization of auditors “Russian Union of auditors” (Association), ORNZ 11603080484