LuxFLAG is pleased to announce that it has been awarded the ISAE 3000 Type II certification by EY Luxembourg in respect of LuxFLAG’s system of internal controls for label issuance services to Sustainable Finance vehicles for the period 1 July to 31 December 2019. With this, LuxFLAG becomes the first sustainable finance labelling agency in Europe to obtain such an external assurance certification.
EY’s examination was conducted in accordance with the International Standard on Assurance Engagements 3000 (revised) (“ISAE 3000”), issued by the International Auditing and Assurance Standards Board and as adopted for Luxembourg by the “Institut des Réviseurs d’Entreprises”. The ISAE 3000 type II report awarded to LuxFLAG provides assurance that its “Description of Labelling Services Provided by LuxFLAG” (the “Description”) is fairly presented, and the controls were suitably designed and operating effectively to achieve the control objectives stated in the Description for the period reviewed.
Denise Voss, Chairwoman of LuxFLAG, said: “We are very pleased to receive this independent internationally recognized accreditation under ISAE 3000, which reaffirms the robust internal processes, suitability of the design of controls, and operating effectiveness of the defined controls in relation to labels issued by LuxFLAG.”
LuxFLAG released a press release on this ocassion which is available for consultation here.