Over the past two years, TSM initiative leaders from member companies have worked to design a verification system that does the following:
- verifies that MAC members’ assessments reflect actual company performance
- assists members in developing the capacity to monitor and self-assess TSM implementation
- ensures that MAC members and their communities of interest can rely on the reported results
Initiative leaders reviewed a range of verification systems in use or under development by MAC members and other industry associations in mining and non-mining sectors. Several auditing and verification professionals were consulted or were actively involved in the design. In addition, the Community of Interest (COI) Advisory Panel was regularly consulted on all elements of the system. Initiative leaders were able to incorporate much of the panel’s advice.
The resulting TSM verification system is based on a layered approach. Three elements combine to give MAC members and their communities of interest confidence in the integrity of reported company performance:
- verification of company self-assessments by an external verifier
- letter of assurance from a CEO or authorized officer confirming the verified results (to be published on MAC’s website)
- annual post-verification review of two or three member companies’ performance by the COI Advisory Panel
