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Independent Assurance Report


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Independent Limited Assurance Report

To the Management of Wärtsilä Corporation

Scope of Engagement

Wärtsilä Corporation (“Wärtsilä”) commissioned DNV GL Business Assurance Finland OY/AB (“DNV GL”) to conduct a limited assurance engagement over selected sustainability disclosures presented in the Wärtsilä Annual Report (“Report”) for the reporting period 1st January to 31st December 2019.

Selected Information

The scope and boundary of our work is restricted to the General and Topic-specific GRI-disclosures (the “Selected Information”). The location of Selected Information in the Report is specified in the “GRI and UNGC index”. In addition, we have reviewed the sustainability information presented in the “Stories” - section marked with “Sustainability Assured”.

To assess the Selected Information, which includes an assessment of the risk of material misstatement in the Report, we have used Global Reporting Initiative’s GRI standards (2016) and Wärtsilä’s reporting principles, (the “Criteria”, see Reporting Principles -section of the Report).

We have not performed any work, and do not express any conclusion, on any other information that may be published in the Report or on Wärtsilä’s website for the current reporting period.

Our conclusions

Based on the procedures we have performed and the evidence we have obtained, nothing has come to our attention that causes us to believe that the Selected Information is not fairly stated and has not been prepared, in all material respects, in accordance with the Criteria. We believe that the Report is in line with the “Comprehensive” requirements of the GRI standards.

This conclusion relates only to the Selected Information, and is to be read in the context of this Assurance Report, in particular the inherent limitations explained below.

Standard and level of assurance

We performed a limited assurance engagement in accordance with the International Standard on Assurance Engagements (ISAE) 3000 revised – ‘Assurance Engagements other than Audits and Reviews of Historical Financial Information’ (revised), issued by the International Auditing and Assurance Standards Board. This standard requires that we comply with ethical requirements and plan and perform the assurance engagement to obtain limited assurance.

DNV GL applies its own management standards and compliance policies for quality control, in accordance with ISO/IEC 17021:2011 - Conformity Assessment Requirements for bodies providing audit and certification of management systems, and accordingly maintains a comprehensive system of quality control including documented policies and procedures regarding compliance with ethical requirements, professional standards, and applicable legal and regulatory requirements.

The procedures performed in a limited assurance engagement vary in nature and timing from, and are less detailed than those undertaken during a reasonable assurance engagement, so the level of assurance obtained is substantially lower than the assurance that would have been obtained had a reasonable assurance engagement been performed. We planned and performed our work to obtain the evidence we considered sufficient to provide a basis for our opinion, so that the risk of this conclusion being in error is reduced, but not reduced completely.

Basis of our conclusion

We are required to plan and perform our work in order to consider the risk of material misstatement of the Selected Information; our work included, but was not restricted to:

  • Assessing the appropriateness of the Criteria for the Selected Information;
  • Conducting interviews with Wärtsilä’s management to obtain an understanding of the data management systems and processes used to generate, aggregate and report the Selected Information;
  • Conducting one physical site visit and five remote site audits to review processes and systems for preparing site-level data consolidated at Head Office. The physical site visit was conducted at:
    • Wärtsilä Finland;
      and remote site audits at:
    • Wärtsilä Iberica, Spain
    • Wärtsilä Indonesia;
    • Wärtsilä Japan;
    • Wärtsilä North America; and
    • Wärtsilä Transas, Russia.

DNV GL was free to choose the sites on the basis of materiality;

  • Reviewing data at source and following this through to consolidated Group data;
  • Reviewing whether the evidence, measurements, and scope of the Selected Information is prepared in accordance with the Criteria; and
  • Reviewing the Report and narrative accompanying the Selected Information in the Report with regard to the Criteria.
  • Evaluation of the disclosed information in the Report for “in accordance – Comprehensive” reporting requirements of GRI standards.

Inherent limitations

Our assurance relies on the premise that the data and information provided by Wärtsilä to us as part of our review procedures have been provided in good faith. Because of the selective nature (sampling) and other inherent limitations of both procedures and systems of internal control, there remains the unavoidable risk that errors or irregularities may not have been detected. Energy use data utilized in GHG emissions calculations are subject to inherent limitations, given the nature and the methods used for determining such data. Finally, the selection of different but acceptable measurement techniques may result in materially different measurements.

DNV GL expressly disclaims any liability or co-responsibility for any decision a person or an entity may make based on this Independent Assurance Report.

Our competence, independence and quality control

DNV GL established policies and procedures are designed to ensure that DNV GL, its personnel and – where applicable – others are subject to independence requirements (including personnel of other entities of DNV GL) maintain independence where required by relevant ethical requirements. This engagement work was carried out by an independent team of sustainability assurance professionals, whose members have not been involved in the development of any of the Criteria. Our multi-disciplinary team consisted of professionals with a combination of environmental and sustainability assurance experience.

Responsibilities of the Management of Wärtsilä and DNV GL

The Management of Wärtsilä have sole responsibility for:

  • Preparing and presenting the Selected Information in accordance with the Criteria;
  • Designing, implementing and maintaining effective internal controls over the information and data, resulting in the preparation of the Selected Information that is free from material misstatements;
  • Measuring and reporting the Selected Information based on their established Criteria; and
  • Contents and statements contained within the Report and the Criteria.

Our responsibility is to plan and perform our work to obtain limited assurance about whether the Selected Information has been prepared in accordance with the Criteria and to report to Wärtsilä in the form of an independent limited assurance conclusion, based on the work performed and the evidence obtained. We have not been responsible for the preparation of the Report.

For and on behalf of DNV GL Business Assurance Finland OY/AB

Espoo, Finland,

7th February 2020


Mikael Niskala

Lead Auditor

DNV GL – Business Assurance

Souvik Kumar Ghosh

Principal Consultant and Reviewer

DNV GL – Business Assurance


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