Independent audit

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Background

Efic engages an independent environmental and social expert to audit the application of its Policy and Procedure for environmental and social review of transactions every two years.

Efic has commissioned three audits, in 2012, 2014 and 2016. Results of the audits are provided below.

Audit 2016

Ernst & Young (EY) undertook the third independent audit of the Policy and Procedure. This was completed at the end of September 2016.

A copy of the EY audit report can be found here.

The audit conclusion is:

In our opinion, the environmental and social review of transactions and, where relevant, their associated projects completed by Efic, between 21st July 2014 and 30th June 2016, was properly completed, in all material respects, in accordance with the requirements of the Efic Policy for environmental and social review of transactions and the Efic Procedure for environmental and social review of transactions.

The audit report provided three recommendations to further improve Efic’s internal processes. In response, we will amend our processes to reflect those recommendations.

Previous Audits

Copies of the previous audits are provided below:

  • December 2012, a copy of the report is available here
  • September 2014, a copy of the report is available here.