Limited Assurance Report of the Independent Auditor Regarding Sustainability Information1
To the Management Board of Vonovia SE, Bochum
We have performed an independent limited assurance engagement on the sustainability information published in the report “Sustainability Report 2021” (further “Report”) of Vonovia SE, Bochum, (further “Company”) for the period from January 1 to December 31, 2021.
It was not part of our engagement to review the examples labelled with ”Project” in each chapter and references to external websites and information sources, as well as future-related statements in the Sustainability Report.
The legal representatives of the Company are responsible for the preparation of the Report and the determination and presentation of the sustainability information in accordance with the Reporting Criteria. Vonovia SE applies the principles and standard disclosures of the Standards of the Global Reporting Initiative (GRI) as Reporting Criteria.
This responsibility of the legal representatives includes the selection and application of appropriate methods to prepare the Report and the use of assumptions and estimates for individual disclosures which are reasonable under the given circumstances. Furthermore, the legal representatives are responsible for the internal controls they deem necessary for the preparation of Report that is free of – intended or unintended – material misstatements.
It is our responsibility to express a conclusion on the Report based on our work performed within a limited assurance engagement.
We conducted our work in the form of a limited assurance engagement in accordance with the International Standard on Assurance Engagements (ISAE) 3000 (Revised): “Assurance Engagements other than Audits or Reviews of Historical Financial Information”, published by IAASB.
Accordingly, we have to plan and perform the assurance engagement in such a way that we obtain limited assurance as to whether any matters have come to our attention that cause us to believe that the Sustainability Report of the Company for the period from January 1 to December 31, 2021 has not been prepared, in all material respects, in accordance with the Reporting Criteria.
We do not, however, issue a separate conclusion for each disclosure. As the assurance procedures performed in a limited assurance engagement are less comprehensive than in a reasonable assurance engagement, the level of assurance obtained is substantially lower. The choice of assurance procedures is subject to the auditor’s own judgement.
Within the scope of our engagement we performed, amongst others, the following procedures:
- Inquiries of personnel who are responsible for the materiality analysis to get an understanding of the process for identifying material topics and respective report boundaries of Vonovia SE
- A risk analysis, including a media research, to identify relevant information about sustainability performance of Vonovia SE in the reporting period
- Reviewing the suitability of internally developed Reporting Criteria
- Evaluation of the design and implementation of the systems and processes for determining, processing and monitoring of sustainability disclosures included in the scope of this engagement, including the consolidation of the data
- Inquiries of personnel who are responsible for determining disclosures on concepts, due diligence processes, results and risks, the conduction of internal controls and consolidation of the disclosures
- Evaluation of selected internal and external documents
- Analytical evaluation of data and trends of quantitative disclosures which are reported by all sites at group level
- Assessment of the overall presentation of the disclosures
In our opinion, we obtained sufficient and appropriate evidence for reaching a conclusion for the assurance engagement.
Independence and Quality Assurance on the Part of the Auditing Firm
In performing this engagement, we applied the legal provisions and professional pronouncements regarding independence and quality assurance, in particular the Professional Code for German Public Auditors and Chartered Accountants (in Germany) and the quality assurance standard of the German Institute of Public Auditors (Institut der Wirtschaftsprüfer, IDW) regarding quality assurance requirements in audit practice (IDW QS 1).
Based on the procedures performed and the evidence obtained, nothing has come to our attention that causes us to believe that the sustainability information in Sustainability Report 2021 of Vonovia SE for the period January 1 to December 31, 2021, has not been prepared, in all material respects, in accordance with the Reporting Criteria.
Restriction of Use/Clause on General Engagement Terms
This assurance report is issued for purposes of the Executive Board of Vonovia SE, Bochum, only. We assume no responsibility with regard to any third parties.
Our assignment for the Executive Board of Vonovia SE, Bochum, and professional liability as described above was governed by the General Engagement Terms for Wirtschaftsprüfer and Wirtschaftsprüfungsgesellschaften (Allgemeine Auftragsbedingungen für Wirtschaftsprüfer und Wirtschaftsprüfungsgesellschaften) in the version dated January 1, 2017 (https://www.kpmg.de/bescheinigungen/lib/aab_english.pdf). By reading and using the information contained in this assurance report, each recipient confirms notice of the provisions contained therein including the limitation of our liability as stipulated in No. 9 and accepts the validity of the General Engagement Terms with respect to us.
Düsseldorf, April 27, 2022
Original German version signed by
[German Public Auditor]
[German Public Auditor]