Assurance
Independent review report to Investa Property Group on its 2007 Sustainability Results Update Report
Introduction
We have been engaged by Investa Property Group (Investa) to review selected performance data (the Performance Data) for the six month period from 31 March 2007 to 30 September 2007, as reported on page 6 of Investa's 2007 Sustainability Results Update Report (the Report).
Scope
The Report and management responsibility
The management of Investa are responsible for the preparation of the Report and the information and assessments contained within it, for determining Investa's objectives in relation to sustainability performance, and for establishing and maintaining appropriate performance management and internal control systems from which the reported information is derived. Management's assertions about the effectiveness of the performance management and internal control systems are included in a separate letter we have received from management.
Review approach
We have conducted an independent review of the Performance Data set out on page 6 of the Report for the six month period from 31 March 2007 to 30 September 2007. There are no mandatory requirements for the preparation, publication or review of sustainability performance data. Investa applies its own internal reporting guidelines for sustainability reporting ("the Criteria"), which can be found in the Reporting Rules. The selection and suitability of the Criteria is the responsibility of management and our review did not include an assessment of the adequacy of the Criteria. Further, the internal control structure which management has established and from which the Performance Data has been derived, has not been reviewed and no opinion is expressed as to its effectiveness.
Our review was conducted in accordance with the International Standard on Assurance Engagements ISAE 3000 "Assurance Engagements other than Audits or Reviews of Historical Financial Information" issued by the International Auditing and Assurance Standards Board, and with Australian Auditing Standards AUS 108 "Assurance Engagements" and with AUS 902 "Review of Financial Reports". A review is primarily limited to inquiries of company personnel and other procedures applied to the compilation and presentation of the quantitative data. A review does not provide all the evidence that would be required in an audit, thus the level of assurance provided is less than that given in an audit. We have not performed an audit and, accordingly, do not express an audit opinion.
We performed procedures in order to obtain all the information and explanations that we considered necessary to provide sufficient evidence for us to state whether anything has come to our attention that would indicate the Performance Data has not been presented fairly in accordance with the Criteria established by management.
The Performance Data
We have reviewed the following quantitative Performance Data reported on page 6 in the Report for the six month period from 31 March 2007 to 30 September 2007 for Electricity, Natural Gas, Water and CO2 emissions per sqm.
As determined by Investa, the Net Lettable Area (NLA) used for the calculation of indicator ratio per m2 will be the NLA as at 28 September 2007 reported in the Investa Sustainability Report 2007. KPMG was engaged to provide assurance on the NLA reported as at 28 September 2007 and no additional assurance procedures were performed for the NLA reported in Investa's 2007 Sustainability Report.
Independence
In conducting our review, we followed applicable independence requirements of Australian professional ethical pronouncements and the Corporations Act 2001.
Statement
Based on our review, which is not an audit, nothing came to our attention to indicate that the Performance Data set out on page 6 of the 2007 Sustainability Results Update Report for the six month period from 31 March 2007 to 30 September 2007 has not been presented fairly in accordance with the Criteria established by management.
KPMG
Margaret Smylie
Partner
Sydney, 22 April 2008
Click here for a controlled version of the Assurance Statement.