You have requested access to a copy of a report dated 30 September 2021 prepared by BDO LLP on the description by management of the policies, process and control activities (“Description”) placed in operation over ICIS’ response to address the International Organization of Securities Commissions (“IOSCO”) Principles for Oil Price Reporting Agencies (“PRA Principles”) as at 30 September 2021, (the “Report”). LNRS Data Services B.V., to whom the Report is addressed, has confirmed that a copy of the report may be provided to you. BDO LLP has consented to release of the report to you on condition that you accept and agree to the terms below.
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1. BDO LLP, its members, subsidiaries and their employees and agents (individually and collectively referred to in this letter as “we” whenever the context allows) neither owe nor accept any duty or responsibility to each recipient, whether in contract or in tort (including without limitation, negligence and breach of statutory duty) or howsoever otherwise arising. We shall not be liable in respect of any loss, damage or expense of whatsoever nature which results from any use the recipient may choose to make of the Report, or any reliance the recipient may seek to place on it, or which is otherwise consequent upon the provision of the Report to the recipient, which use or reliance is made or placed entirely at their own risk. The Report is provided to each recipient for information purposes only;
2. We make no representations regarding the Report or the accuracy of the contents including that the information has not changed since the date of the Report;
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4. Neither the Report, nor information obtained from it, may be made available to anyone else without BDO LLP’s prior written consent, except where required by law or regulation;
5. The Report was prepared with ICIS’ interests in mind. It was not prepared with any recipient's interests in mind or for its use. The Report is not a substitute for any enquiries that a recipient should make. The descriptions of activities, processes and controls is for the period as at 30 September 2021, and thus BDO LLP’s report is based on historical information. Any projection of such information or BDO LLP’s opinion or views thereon to future periods is subject to the risk that changes may occur after the report was issued and the description of activities, processes and controls may no longer accurately portray the current control environment. For these reasons, such projection of information to future periods would be inappropriate;
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