Independent Assurance

Since 2003, Barrick has contracted  a third-party consultancy to provide an independent external review and opinion on the credibility of the Responsibility Report content and the reliability of the data compilation process.

Since 2008, instead of a ‘review’ we have externally ‘assured’ our reporting using the ICMM Assurance Procedure. Assurance is an evaluation method that uses a specific set of principles and standards to assess the quality of a reporting organization’s subject matter and the systems, processes and competencies that underlie its performance. The annual assurance process aims to increase transparency and stakeholder confidence in our performance and practices in the areas of governance, community relations, environment, safety and health, security and risk management. For the Report, we retained Bureau Veritas to provide a detailed external assurance, including assurance against ICMM’s five subject matters:

• the alignment of our company’s sustainability policies and procedures to ICMM’s 10 Sustainable Development Principles and mandatory requirements set out in ICMM position statements;
• the company’s self-declared application level of the G3 Guidelines;
• the company’s material sustainable development risks and opportunities,
• the existence and status of implementation of systems that the company is using to manage the identified material sustainable development risks and opportunities; and
• the company’s performance during the reporting period for the identified material sustainable development risks and opportunities.

During the 2011 assurance process, Bureau Veritas interviewed employees at all levels of the company, completed five site visits and conducted stakeholder interviews. Bureau Veritas’ assurance statement is available here.

ICMM Sustainable Development Principles

1. Implement and maintain ethical business practices and sound systems of corporate governance.
2. Integrate sustainable development considerations within the corporate decision-making process.
3. Uphold fundamental human rights and respect cultures, customs and values in dealings with employees and others who are affected by our activities.
4. Implement risk management strategies based on valid data and sound science.
5. Seek continual improvement of our health and safety performance.
6. Seek continual improvement of our environmental performance.
7. Contribute to conservation of biodiversity and integrated approaches to land use planning.
8. Facilitate and encourage responsible product design, use, re-use, recycling and disposal of our products.
9. Contribute to the social, economic and institutional development of the communities in which we operate.
10. Implement effective and transparent engagement, communication and independently verified reporting arrangements with our stakeholders.