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PricewaterhouseCoopers LLP (PwC) has performed an assurance engagement over the service provided by Baltic Exchange Information Services Ltd (BEISL) in relation to how it measures the bulk freight markets is robust and the way the business adheres to various national and international regulations and principles. The 91-page report includes a reasonable assurance opinion by the .
PWC completes Baltic Exchange benchmark assurance audit
Independent auditor PricewaterhouseCoopers LLP (PwC) has undertaken the first annual audit to test the design and operating effectiveness of the Baltic Exchange’s controls for its market benchmark services.
The 73-page report, voluntarily commissioned by Baltic Exchange Information Services Ltd (BEISL), audited the controls implemented by the Baltic Exchange in relation to the bulk freight market which are designed to be robust and comply with the various national and international regulations and principles.
The opinion provided PwC was issued over the Baltic Exchange’s controls as at 31 January 2021 in relation to the requirements set down within the UK Benchmarks Regulation; the IOSCO Principles for Financial Benchmarks; the IOSCO Principles for Oil Price Reporting Agencies as well the Baltic’s own Guide to Market Benchmarks.