To the participants of Vesteda Residential Fund FGR
We have reviewed a selection of the sustainability data included in the accompanying Annual Report for the year ended ended 31 December 2017 (hereafter: the Report) of Vesteda Residential Fund FGR (“the Company”) at Amsterdam.
The objective of the review was to provide limited assurance on the sustainability data as included in the following chapters: Management Report, Paragraph key developments (pages 22-26) and Paragraph Tenant Survey (pages 33-35). Corporate Sustainability and Social Responsibility (pages 56-66). Governance and risk management, Section Ethics and integrity (page 71), About this Report (pages 76-82) and Annex 2: GRI Content Index for ‘In accordance’ - Core.
The Report comprises a representation of the policy of the Company with regard to corporate social responsibility and the thereto related business operations, events and achievements during the year.
Based on our procedures performed nothing has come to our attention that causes us to believe that the Report does not present, in all material respects, a reliable and adequate view of:
the policy and business operations with regard to corporate social responsibility; and
the thereto related events and achievements for the year ended 31 December 2017.
in accordance with the Sustainability Reporting Guidelines GRI Standards: Core Option and the internally applied reporting criteria as disclosed in section “About this Report”.
Based on our procedures performed nothing has come to our attention that causes us to believe that the Report is not prepared, in all material respects, in accordance with the Sustainability Reporting Guidelines GRI Standards: Core Option and the internally applied reporting criteria as disclosed as disclosed in section “About the Report”.
The Report includes prospective information such as ambitions, strategy, plans, expectations and estimates. Inherent to this information is that the actual results may differ in the future and are therefore uncertain. We do not provide any assurance on the assumptions and achievability of prospective information in the Report.
Basis for our conclusion
We have performed our review on the Report in accordance with Dutch law, including Dutch Standard 3810N ‘Assurance engagements relating to sustainability reports’. This review engagement is aimed to obtaining limited assurance. Our responsibilities under this standard are further described in the ‘Our responsibilities for the review of the Report’ section of our report.
We are independent of the Company in accordance with the ‘Verordening inzake de onafhankelijkheid van accountants bij assurance-opdrachten’ (ViO) and other relevant independence requirements in The Netherlands. Furthermore we have complied with the ‘Verordening gedrags- en beroepsregels accountants’ (VGBA).
We believe that the assurance evidence we have obtained is sufficient and appropriate to provide a basis for our conclusion.
Responsibilities of the Managing Board and the Supervisory Committee
The Managing Board of the Company is responsible for the preparation of the Report in accordance with the Sustainability Reporting Guidelines GRI Standards: Core Option and the internally applied reporting criteria as disclosed on in section “About this Report”, including the identification of stakeholders and the definition of material matters. The choices made by the Managing Board regarding the scope of the Report and the reporting policy are summarised in section “About this Report”
The Managing Board is also responsible for such internal control as it determines is necessary to enable the preparation of the Report that is free from material misstatement, whether due to fraud or errors. The Supervisory Committee is responsible for overseeing the company’s reporting process.
Our responsibilities for the review of the Report
Our responsibility is to plan and perform the review assignment in a manner that allows us to obtain sufficient and appropriate assurance evidence for our conclusion.
We apply the ‘Nadere voorschriften accountantskantoren ter zake van assurance opdrachten (RA/AA)’ and accordingly maintain a comprehensive system of quality control including documented policies and procedures regarding compliance with ethical requirements, professional standards and applicable legal and regulatory requirements.
Misstatements can arise from fraud or errors and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of this Report. The materiality affects the nature, timing and extent of our review procedures and the evaluation of the effect of identified misstatements on our conclusion.
A review is aimed to obtain limited level of assurance. Procedures performed to obtain a limited level of assurance are aimed to determining the plausibility of information and are less extensive than a reasonable assurance engagement. The procedures performed consisted primarily of making inquiries of staff within the entity and applying analytical procedures on the information in the Report. The level of assurance obtained in review engagements are therefore substantially less than the assurance obtained in an audit engagement.
We have exercised professional judgement and have maintained professional skepticism throughout the review, in accordance with the Dutch Standard 3810N, ethical requirements and independence requirements.
Our assurance engagement included amongst others:
Performing a media analysis to obtain insight into relevant social themes and issues.
Evaluating the appropriateness of the reporting policy and its consistent application, including the evaluation of the results of the stakeholders’ dialogue.
Evaluating the design and implementation of the reporting systems and processes related to the information in the Report.
Interviewing relevant staff responsible for providing the information in the Report, carrying out internal control procedures on the data and consolidating the data in the Report.
An analytical review of the data and trends submitted for consolidation at corporate level.
From the matters communicated with the Company we determine those matters that were of most significance in the review of the Report and are therefore the key review matters. We describe these matters in our assurance report unless law or regulation precludes public disclosure about the matter or when, in extremely rare circumstances, not mentioning it is in the public interest.
Amsterdam, March 19, 2018
Deloitte Accountants B.V.