To the Management Board of Deutsche Bank Aktiengesellschaft, Frankfurt am Main.
We have performed an independent limited assurance engagement on the disclosures on the materiality assessment and on selected sustainability disclosures for the fiscal year 2016 described in the following chapters in the Corporate Responsibility Report 2016
- About Deutsche Bank: Our material topics
- About Deutsche Bank: Our sustainability ratings results
- Conduct and risks: Our reputational risk framework
- Conduct and risks: Managing environmental and social risks
- Conduct and risks: Respecting human rights
- Products and services: Client centricity
- Products and services: ESG in Asset Management
- Products and services: Financing a low carbon economy
- People and community: Corporate citizenship
- People and community: Supporting art, culture and sports
- Facts and Figures: Eco-efficiency data
It was not part of our engagement to review product or service related information, references to external information sources, expert opinions and future-related statements in the Report.
Management´s Responsibility for the Report
The legal representatives of Deutsche Bank are responsible for the accurate preparation of the Report in accordance with the principles and standard disclosures of the G4 Sustainability Reporting Guidelines of the Global Reporting Initiative in combination with the Corporate Accounting and Reporting Standard (Scope 1 and 2) and the Corporate Value Chain (Scope 3) Standard of World Resources Institute / World Business Council for Sustainable Development and the ISO 14064-3 for the calculation of the greenhouse gas emissions for scope 1, 2 and 3, as described in the chapter “Reporting transparently” (further: “Reporting Criteria”).
This responsibility includes the selection and application of appropriate methods to prepare the Report and the use of assumptions and estimates for individual sustainability disclosures, which are reasonable in the circumstances. Furthermore, the responsibility includes designing, implementing and maintaining systems and processes relevant for the preparation of the Report in a way that is free of – intended or unintended – material misstatements.
Independence and quality assurance on the part of the auditing firm
We have complied with the independence and other ethical requirements of the Code of Ethics for Professional Accountants issued by the International Ethics Standards Board for Accountants (IESBA-Code), which is founded on fundamental principles of integrity, objectivity, professional competence and due care, confidentiality and professional behavior.
The quality assurance system of the KPMG AG Wirtschaftsprüfungsgesellschaft is based on the International Standard on Quality Control 1 "Quality Control for Audit, Assurance and Related Service Practices" (ISQC 1) and, in addition on national statutory requirements and professional standards, especially the Professional Code for Certified Accountants as well as the joint statement of WPK (Chamber of Public Accountants) and IDW (Institute of Public Auditors in Germany): Requirements for quality assurance in the auditing practice (VO 1/2006).
Our responsibility is to express a conclusion based on our work performed and the evidences obtained on the above-mentioned information.
Nature and extent of the assurance engagement
We conducted our work in accordance with the International Standard on Assurance Engagements (ISAE) 3000 (Revised): “Assurance Engagements other than Audits or Reviews of Historical Financial Information” and the International Standard on Assurance Engagements (ISAE) 3410: “Assurance Engagements on Greenhouse Gas Statement” of the International Auditing and Assurance Standards Board. These standards require that we comply with our professional duties and plan and perform the assurance engagement to obtain a limited level of assurance to preclude that the information above is not in accordance, in material respects, with the aforementioned Reporting Criteria. In a limited assurance engagement the evidence gathering procedures are more limited than in a reasonable assurance engagement and therefore less assurance is obtained than in a reasonable assurance engagement. The choice of audit activities is subject to the auditor’s own judgement. This includes the assessment of the risk of material misstatement in the Report under consideration of the reporting criteria.
Within the scope of our work, we performed amongst others the following procedures when conducting the limited assurance engagement:
- Inquiries of personnel on Group level, which is responsible for the materiality analysis, in order to gain an understanding of the processes for determining material sustainability topics and respective reporting boundaries of Deutsche Bank.
- A risk analysis, including a media search, to identify relevant sustainability aspects for Deutsche Bank in the reporting period.
- Evaluation of the design and implementation of the systems and processes for the collection, processing and control of the sustainability disclosures included in the scope of this engagement, including the consolidation of the data.
- Inquiries of personnel at Group level responsible for providing the data and information, carrying out internal control procedures and consolidating the data and information, including the explanatory notes.
- Evaluation of internal and external documentation, to determine whether the sustainability performance information is supported by sufficient evidence.
- An analytical review of the environmental data and trend explanations submitted by all sites for consolidation at Group level.
- A visit to the premises of Taunusanlage 12, Frankfurt am Main (Germany) to assess local data collection and reporting processes and the reliability of the reported environmental data.
- Evaluating the overall presentation of the sustainability performance information in the selected chapters, included in the scope of this engagement.
Based on our procedures performed and evidences received, nothing has come to our attention that causes us to believe that the disclosures on the materiality assessment and on the selected sustainability disclosures for the fiscal year 2016 in the Report of Deutsche Bank are, in all material respects, not prepared in accordance with the Reporting Criteria.
Without affecting the conclusion of our independent limited assurance engagement presented above, we recommend Deutsche Bank to further strengthen the group wide sustainability management approach. This comprises to further develop the group wide sustainability strategy, the definition of group wide sustainability goals, and the determination of responsibilities for steering and monitoring the sustainability performance on Group level as well as on the level of the Business Units and Infrastructure Functions.
Purpose of the assurance report
This assurance report is issued based on an assurance engagement agreed upon with Deutsche Bank. The assurance engagement to obtain limited assurance is issued on purpose of Deutsche Bank and the report is solely for information purposes of Deutsche Bank on the results of the assurance engagement.
This assurance report must not be used as basis for (financial) decision-making by third parties of any kind. We have responsibility only towards Deutsche Bank. We do not assume any responsibility for third parties.
Frankfurt am Main, March 20, 2017
[German Public Auditor]
[German Public Auditor]