Klappir completes ISAE 3000 type 2 reasonable assurance of system description controls

ISAE 3000 (Revised) is a standard widely used by accounting firms to independently assess the design, implementation and operations of controls within an organization. In Klappir’s system description, the controls that have been defined cover a range of topics from software development principles to the methodology used in creating sustainability statements. Deloitte evaluated the design, implementation and operational effectiveness of controls by performing reviews of data and policies, walkthroughs of processes and performance observation of selected controls as well as interviews with those responsible for designing, implementing and operating controls.

The ISAE 3000 type 2 attestation process included interviews by Deloitte with key employees of Klappir as well as inquiries regarding procedures and methods Klappir uses to operate and update its system. Deloitte observed the processes, tools and controls for gathering, consolidating and aggregating data into the Sustainability Platform. Furthermore, they evaluated the overall presentation of Klappir’s system control description, including the consistency of information. Deloitte’s procedures included testing the operating effectiveness of those controls by collecting sample sizes that they considered necessary to provide reasonable assurance that the control objectives stated in the description were achieved. An assurance engagement of this type also includes evaluating the overall presentation of the description, the suitability of the objectives stated therein, and the suitability of the criteria specified by the service organization.

Bjorn Atli Davidsson, who co-ordinated the project on behalf of Klappir, had this to say about the milestone: “We learned a lot from this process. It was a pleasure working with Deloitte, and very valuable to get their professional point of view on our internal processes and controls, both confirming what we do well and pointing out a couple of opportunities for improvement. This is not a one-off compliance exercise, it’s all about building and retaining processes and procedures that promote data integrity every year and our aim is to continuously improve.”

Thorsteinn Svanur Jonsson, chief business development officer, added this: “Our customers have learned to trust our Sustainability Platform and expect data accuracy and completeness in their annual sustainability reports. We have seen an increase in our customers seeking third party assurance on their sustainability reports, a trend that will become a legal requirement for even more companies in the near future. By using our solution and services that have now gone through these ISAE-3000 type-1 and type-2 processes, any third-party assurance process should be simpler for our customers, ultimately saving them money and effort.”

Klappir’s type 2 ISAE 3000 report can be made available upon request to Premium customers as well as sustainability statement service subscribers.