Verification Process and Schedule
The Verification Process Includes the Following Steps
- Conflict of Interest Review
- This is a review to ensure that we have no prior relationship with the reporting entity that could bias the verification process. Since Carbon Verification Service provides only verification services, not consulting services, the potential for a conflict is greatly diminished.
2. Verification Plan
- This lays out the schedule, overall verification strategy, personnel assigned to the process, and identifies documents that will be needed for review.
3. Site Visit
- This involves a visit to the site to confirm emission sources, metering infrastructure and procedures, as well as interviews with operational personnel.
4. Sampling Plan
- The Sampling Plan specifies the evidence that will be collected to assess the accuracy of the reported values. The Sampling Plan targets those areas or processes where, if an error occurred, it could lead to a significant error in reported values.
5. Data Checks
- This is the process of assessing the evidence, and performing calculations to compare the reported value to the verified value. The raw data sources are identified followed through the data transformation process all the way to the reported values. This process increases the likelihood that errors or omissions are detected
6. Issues Log
- As the reported values are checked, any discrepancies between the reported values and verified values are entered in the Issues Log. The Reporter must review and respond to each issue by explaining the discrepancy or revising the reported value.
7. Verification Report
- The Verification Report includes a summary of the verification process and its findings.
8. Verification Statement
- At the conclusion of the verification process, Carbon Verification Service will issue either a positive, qualified positive, or adverse verification statement. A positive verification statement means that the Lead Verifier can attest with reasonable assurance that the reported values are free of material misstatement and conform to the reporting standard. A qualified positive verification means that the Lead Verifier can attest with reasonable assurance that the reported values are free of material misstatement and include one or more non-conformances that do not result in a material misstatement. An adverse verification statement means that the reported values contain a material misstatement or are not in conformance with the reporting standard or both. A material misstatement is usually defined as one where the reported values differ by more than 5% from the verified value. Note that in addition to “reasonable” assurance, there is also “limited” assurance which is a lower level of assurance and involves the review of less data than a reasonable level of assurance.”