To the readers of the Anheuser-Busch InBev 2017 Annual Report:
We have reviewed the following information in the Anheuser-Busch InBev 2017 Annual Report (hereafter ‘The Selected Information’) of Anheuser-Busch InBev SA/NV (hereafter ‘AB InBev’) based in Leuven, Belgium:
- Water Use by Hectoliter of Production and Total Water Use (page 33)
- Total GJ of Energy and Energy Usage per Hectoliter of Production (page 34)
- Total Direct and Indirect GHG Emissions and GHG Emissions per Hectoliter of Production (page 34)
- Lost Time Injuries (LTI)— Supply Employees (own), Second Tier and Sales Employees (page 38)
- Total Recordable Injuries (TRI)— Supply Employees (own) (page 38)
- Fatalities (page 38)
The information reviewed as part of our assurance engagement has been indicated throughout the Annual Report with the symbol . A review is aimed at obtaining a limited level of assurance.
Based on our procedures performed, nothing has come to our attention that causes us to believe that The Selected Information is not prepared, in all material respects, in accordance with the applied reporting criteria as disclosed in the section ‘Report Scope’ on page 40 in the Annual Report.
Basis for our conclusion
We have performed our review on The Selected Information in accordance with Dutch law, including Dutch Standard 3000A: “Assurance Engagements other than Audits or Reviews of Historical Financial Information”, which is aligned with the International Standard on Assurance Engagements (ISAE) 3000: “Assurance Engagements other than Audits or Reviews of Historical Financial Information”.
This review engagement is aimed at obtaining a limited level of assurance. Our responsibilities under this standard are further described in the section ‘Our responsibilities for the review of The Selected Information’ of our report.
We are independent of Anheuser-Busch InBev SA/NV in accordance with the ‘Verordening inzake de onafhankelijkheid van accountants bij assuranceopdrachten’ (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 gedragsen 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.
Scope of the group review
AB InBev is the parent company of a group of entities. The Selected Information incorporates the consolidated information of this group of entities to the extent as specified in the Better World Chapter of the Annual Report.
Our group review procedures consisted of both review procedures at corporate (consolidated) level and at site level. Our selection of sites in scope of our review procedures is primarily based on the site’s individual contribution to the consolidated information. Furthermore, our selection of sites considered relevant reporting risks and geographical spread.
By performing our procedures at site level, together with additional procedures at corporate level, we have been able to obtain sufficient and appropriate assurance evidence about the group’s reported information to provide a conclusion about The Selected Information.
Responsibilities of the Executive Board for The Selected Information
The Executive Board of Management of AB InBev is responsible for the preparation of The Selected Information in accordance with the applied reporting criteria as described in the section ‘Report Scope’ on page 40 in the Annual Report, including the identification of stakeholders and the definition of material matters. The choices made by the Executive Board of Management of AB InBev regarding the scope of the information in the Annual Report and the reporting policy are summarized in the section ‘Report Scope’ on page 40 in the Annual Report.
The Executive Board of Management is also responsible for such internal control as the Executive Board of Management 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 assurance engagement in a manner that allows us to obtain sufficient and appropriate assurance evidence for our conclusion.
Procedures performed in an assurance engagement to obtain a limited level of assurance are aimed to determine the plausibility of information and are less extensive than a reasonable assurance engagement. The level of assurance obtained in assurance engagements is therefore substantially less than the level of assurance obtained in an audit engagement.
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 the evaluation of the effect of identified misstatements on our conclusion.
We apply the ‘Nadere voorschriften kwaliteitssystemen’ (Regulations on quality management systems) 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.
We have exercised professional judgement and have maintained professional scepticism throughout the review, in accordance with the Dutch Standard 3000A, ethical requirements and independence requirements.
Our review engagement included, among others, the following procedures:
- Identifying areas of The Selected Information where material misstatements, whether due to fraud or error, are likely to arise, designing and performing assurance procedures responsive to those areas, and obtaining assurance evidence that is sufficient and appropriate to provide a basis for our conclusion;
- Developing an understanding of internal control relevant to the assurance engagement in order to design assurance procedures that are appropriate in the circumstances, but not for the purpose of expressing a conclusion on the effectiveness of the company’s internal control;
- Evaluating the appropriateness of the reporting criteria used and their consistent application, including the reasonableness of estimates made by management and related disclosures to The Selected Information;
- Interviewing relevant staff responsible for providing the information for, carrying out internal control procedures on The Selected Information and consolidating the data in the 2017 Annual Report;
- Visits to seven production sites in Colombia, Ghana, Belgium, China, Mexico and the United States of America (two sites) aimed at, on a local level, validating source data and evaluating the design and implementation of internal control and validation procedures; Reviewing relevant internal and external documentation, on a limited test basis, in order to determine the reliability of The Selected Information;
- An analytical review of data and trends.
Amsterdam, 1 March 2018
KPMG Sustainability, Part of KPMG Advisory N.V.
M.A.S. Boekhold-Miltenburg RA Director