To the Directors and Officers of Whirlpool S.A.
São Paulo - SP
We have been engaged by Whirlpool S.A. to apply limited assurance procedures on the sustainability information disclosed in Whirlpool’s Latin America (“Whirlpool”or “Company”)2013/2014 Sustainability Report, related to the years ended December 31st, 2013 and 2014.
The management of Whirlpool is responsible for preparing and adequately presenting the information in the 2013/2014 Sustainability Report in accordance with the Global Reporting Initiative (GRI) Sustainability Reporting Guidelines(GRI-G4) as well as the internal controls determined necessary to ensure this information is free from material misstatement, resulting from fraud or error.
Our responsibility is to express a conclusion about the information in the 2013/2014 Sustainability Report based on the limited assurance engagement conducted in accordance with Technical Communication (TC) 07/2012 approved by the Federal Accounting Council and prepared in accordance with NBC TO 3000 (Assurance Engagements Other Than Audits and Reviews), issued by the Brazilian Federal Accounting Council - CFC, which is the equivalent to international standard ISAE 3000 issued by the International Federation of Accountants applicable to Non-Financial Historical Information. These standards require compliance with ethical requirements, including independence ones and also that the engagement is conducted to provide limited assurance that the information in the 2013/2014 Sustainability Report, taken as a whole, is free from material misstatement.
A limited assurance engagement conducted in accordance with NBC TO 3000 (ISAE 3000) consists mainly of questioning the management of Whirlpool and other professionals of the Company involved in the preparation of the information disclosed in the 2013/2014 Sustainability Report and applying analytical procedures to obtain evidence that allows us to make a limited assurance conclusion about the sustainability information taken as a whole. A limited assurance engagement also requires additional procedures when the independent auditor learns of issues which lead them to believe that the information disclosed in the Sustainability Report 2013/2014 taken as a whole could present material misstatement.
The selected procedures were based on our understanding of the issues related to the compilation, materiality and presentation of the information disclosed in the 2013/2014 Sustainability Report, other engagement circumstances and considerations regarding areas and procedures associated with the material sustainability information disclosed in the 2013/2014 Sustainability Report where material misstatement could exist. The procedures consisted of:
a. planning: consideration of the materiality of aspects to Whirlpool’s activities, relevance of the information disclosed, amount of quantitative and qualitative information and operational systems and internal controls that served as a basis for preparation of the information in the 2013/2014 Sustainability Report. This analysis defined the indicators to be tested in detail;
b. understanding and analysis of the information disclosed related to the management of material aspects;
c. analysis of processes for the preparation of the 2013/2014 Sustainability Report and its structure and content, based on the Principles for Defining Report Content and Quality of the Global Reporting Initiative - GRI (GRI-G4);
d. evaluation of indicators and other non-financial information:
e. plausibility analysis of the reasons for omissions of performance indicators associated with topics and aspects identified as material throughthe Company’s materiality assessment; and
f. comparison of financial indicators with the financial statements and/or accounting records.
We believe the information, evidence and results we have obtained are sufficient and appropriate to provide a basis for our limited conclusion.
The procedures applied in a limited assurance engagement are substantially less extensive than those applied in a reasonable assurance engagement. Therefore, we cannot ensure we are aware of all the issues that would have been identified in a reasonable assurance engagement, which aims to issue an opinion. If we had conducted a reasonable assurance engagement, we may have identified other issues and possible misstatements within the information presented in the Sustainability Report 2013/2014.
Nonfinancial data is subject to more inherent limitations than financial data, due to the nature and diversity of the methods used to determine, calculate or estimate this data. Qualitative interpretations of the data's materiality and accuracy are subject to individual presumptions and judgments. Additionally, we did not examine data regarding prior periods to assess the adequacy of policies, practices and sustainability performance, nor future projections data.
Based on the procedures carried out, described in this report, we have not identified any relevant information that leads us to believe that the information in Whirlpool’s Latin America 2013/2014 Annual Report is not free of material misstatement, in accordance with the Global Reporting Initiative Sustainability Reporting Guidelines (GRI-G4), and with its source records and files.
São Paulo, June 05th, 2015