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Our conclusions
    Our conclusions on the quality of the Report, based on our approach described above, are as follows:
  • We are satisfied that Man Group’s 2007 Corporate Responsibility Report presents a fair and balanced representation of the progress that the Company has made in the period 1 April 2006 to 31 March 2007, and that there are processes in place for identifying and managing corporate responsibility issues
  • We consider that the key corporate responsibility issues raised in our review of the views of internal and external stakeholders have been addressed within this Report (including those made within relevant media)
  • We consider that those activities considered within the 2006 Report have been reported upon within the 2007 Report
  • We consider that the statements in the claims made by management within the Report are accurate
  • We consider that the transfer of relevant data from the consolidated data records into the tables presented in the Report has been carried out accurately
  • We are confident that no material information has been withheld
    Other observations based on undertaking this work
    There are several observations we would wish to make. These should be considered in the context that this is only the second year of formal corporate responsibility reporting by Man, and that Man’s Corporate Responsibility team is at present small in numbers:
  • The Group has made significant progress in this report, providing further transparency on Man’s key corporate responsibility issues
  • The collation of data by the Corporate Responsibility team would benefit from the use of improved and integrated IT systems, with the involvement of local managers wherever possible. This would reinforce not only the quality of reporting, but assist in embedding corporate responsibility across the organisation
  • Over the next year, Man should take further steps to build on the progress that has been made with the Corporate Responsibility Manual and the ethical policy to integrate corporate responsibility into its management processes worldwide. To support this integration, more resource needs to be made available at the corporate centre, as well as ensuring greater ownership of corporate responsibility in individual operations
  • Whilst there is much evidence of good progress, there needs to be greater internal focus on ensuring that corporate responsibility approaches are replicated across all the Man operations. In this respect, supporting documentation and evidence of management involvement is an area for improvement

Our conclusions presented above are not affected by these observations.

Our independence
This is the first year that The Virtuous Circle Ltd has provided independent accreditation services in relation to Man Group’s Corporate Responsibility reporting. In addition to this work we have provided accreditation services relating to Man Group’s approach to its Carbon Programme and advice and support to Man’s Corporate Responsibility team in their development of submissions for Dow Jones Sustainability Index and a shadow benchmarking exercise for the Business in the Community Corporate Responsibility Index.

Our team has been drawn from our team of Managing Consultants, who work on a range of Corporate Responsibility related commissions with a number of significant UK and international businesses.

Tony Hoskins          Martin Batt
The Virtuous Circle Ltd
30 June 2007