CAC Danone

KPMG S.A.
Siège social
Tour EQHO
2 Avenue Gambetta
CS 60055
92066 Paris la Défense Cedex
France
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Danone
Limited Assurance Report on the
Results of the Danone Way Approach
for 2015
Year ended 31 December 2015
Danone
17, Boulevard Haussman - 75009 Paris
This report contains 4 pages
KPMG S.A.,
société française membre du réseau KPMG
constitué de cabinets indépendants adhérents de
KPMG International Cooperative, une entité de droit suisse.
Société anonyme d’expertise
comptable et de commissariat
aux comptes à directoire et
conseil de surveillance.
Inscrite au Tableau de l’Ordre
à Paris sous le n° 14-30080101
et à la Compagnie Régionale
des Commissaires aux Comptes
de Versailles.
Siège social :
KPMG S.A.
Tour Eqho
2 avenue Gambetta
92066 Paris la Défense Cedex
Capital : 5 497 100 €.
Code APE 6920Z
775 726 417 R.C.S. Nanterre
TVA Union Européenne
FR 77 775 726 417
Danone
17, Boulevard Haussman - 75009 Paris
This is a free translation into English of the original report issued in French and it is provided
solely for the convenience of English-speaking readers. This report should be read in
conjunction with, and construed in accordance with, French law and professional auditing
standards applicable in France
Limited Assurance Report on the Results of the Danone Way Approach for 2015
Year ended 31 December 2015
As requested, and in our capacity as an independent third party, we hereby present our report
on the Results of the Danone Way approach (“the Results”) provided in the chapter “Danone
Way” of the Group’s 2015 “Integrated Report”.
Responsibility of the company
The Results were prepared under the responsibility of the Group’s Corporate Organization
Development and Social Dynamics Department, in accordance with the Danone Way internal
protocol (the “Protocol”) which may be consulted at the department. The chapter “Danone
Way” provides in particular some details on the changes made to the Protocol, the consolidation
scope and the published Results.
Independence and quality control
Our independence is defined by our code of ethics and our internal procedures. We have also
implemented a quality control system comprising documented policies and procedures for
ensuring compliance with the code of ethics and professional auditing standards.
Responsibility of the independent third party
It is our responsibility, based on the work performed, to express a limited level of assurance that
the Results of the Danone Way approach, taken as a whole, are presented fairly, in all material
respects, in accordance with the above mentioned Protocol.
Our work involved the expertise of five people between September 2015 and April 2016 for a
total duration of around fourteen weeks. We called upon our specialists in Corporate Social
Responsibility to assist us in carrying out our work.
KPMG S.A.,
société française membre du réseau KPMG
constitué de cabinets indépendants adhérents de
KPMG International Cooperative, une entité de droit suisse.
Société anonyme d’expertise
comptable et de commissariat
aux comptes à directoire et
conseil de surveillance.
Inscrite au Tableau de l’Ordre
à Paris sous le n° 14-30080101
et à la Compagnie Régionale
des Commissaires aux Comptes
de Versailles.
Siège social :
KPMG S.A.
Tour Eqho
2 avenue Gambetta
92066 Paris la Défense Cedex
Capital : 5 497 100 €.
Code APE 6920Z
775 726 417 R.C.S. Nanterre
TVA Union Européenne
FR 77 775 726 417
Danone
Limited Assurance Report on the Results of the
Danone Way Approach for 2015
12 April 2016
We performed the procedures below in accordance with professional auditing standards and
International Standards on Assurance Engagements (ISAE 3000) 1.
Nature and scope of our work
We conducted several interviews with the people responsible of the Danone Way approach in
the Organization Development and Social Dynamics department in charge of collecting the
Results, in order to:
-
assess the suitability of the Danone Way Protocol in terms of its relevance, completeness,
reliability, impartiality and understandability;
-
verify that a data-collection, compilation, processing and control procedure has been
implemented to ensure the completeness and consistency of the Results and review the
internal control and risk management procedures followed to prepare the Results.
At consolidation level, we performed analytical procedures on the Results and used sampling
techniques to verify the calculations and the consolidation of the Results.
At the entity level for a representative sample of entities selected2 on the basis of their activity,
their contribution to the consolidated Results, their location and risk analysis, we conducted
interviews to verify that procedures were followed correctly and we performed tests of details
using sampling techniques in order to verify the calculations made and reconcile the Results
with the supporting documents. The selected sample represents 19% of the Danone Way
consolidated net sales.
We believe that the sampling methods and sample sizes used, based on our professional
judgement, were sufficient to enable us to provide limited assurance; a higher level of assurance
would have required us to carry out more extensive work. Due to the use of sampling techniques
and other limitations intrinsic to information and internal control systems, we cannot completely
rule out the possibility that a material irregularity has not been detected.
Conclusion
Based on our work, we did not identify any material anomalies likely to call into question the
fact that the Results of the Danone Way approach, taken as a whole, published in the chapter
“Danone Way” of the 2015 “Integrated Report” are presented fairly in accordance with the
Protocol.
1
ISAE 3000 – Assurance engagements other than audits or reviews of historical information.
Danone Produits Frais France, Danone Eaux France, Danone Italy, Mellin Italy, Danone Germany, Danone Waters Deutshland,
Danone Dumex Malaysia, Danone Dumex Thailand, Danone Argentina, Aguas de Argentina, Danone Algeria.
2
- Year ended 31 December 2015 -
3
Danone
Limited Assurance Report on the Results of the
Danone Way Approach for 2015
12 April 2016
Observations
Without qualifying our conclusion above, we draw your attention to the following points:
-
changes in the Danone Way reporting process, as described in chapter “Danone Way” of
2015 “Integrated Report”, do not allow to compare Danone Way Results in 2015 to those of
previous years.
-
reporting procedures to adopt in case the specificities of some subsidiaries do not allow the
application of all practices are not sufficiently detailed in the Protocol.
Paris-La Défense, 12 April 2016
KPMG S.A.
French original signed by:
Philippe Arnaud
Partner
Climate Change and
Sustainability Services
- Year ended 31 December 2015 -
4