CRU successfully completes another IOSCO independent assurance audit

CRU has once more successfully completed an external assurance review of its CRU Alumina Price Index (CRU-API), carried out by independent professional services company BDO LLP (BDO).

This reasonable assurance review, the highest standard for such a review, demonstrates that from 1st January 2020 to 31st December 2020 CRU Prices has continued to operate consistent and effective internal Governance controls to adhere to the International Organization of Securities Commissions’ (IOSCO) Principles for Oil Price Reporting Agencies.

“CRU price assessments are supported by a deep understanding of the fundamentals of commodity markets and the operation of entire supply chains. During 2020 we have witnessed one of the most tumultuous periods of disruption in the markets we cover at very close quarters, including the direct bearing on price.

The policies and processes we deploy, the subject of this audit, and our leading market analysis capability have together ensured CRU prices have remained entirely uninterrupted and wholly reliable benchmarks through this period.” CRU CEO David Trafford said.

Many CRU prices, including the CRU-API, are embedded in physical contracts, with our price assessments allowing for effective, efficient and reliable commercial exchange. Upholding good prices governance is an essential enabler of that and our commitment to it is unwavering in any market conditions.

Claire Ballak Compliance Lead

 To request a copy of the reasonable assurance report or if you have any further questions please contact Claire Ballak compliance@crugroup.com.

Full details of CRU’s CRU-API methodology are available here, while CRU’s overall compliance framework and methodologies are detailed here.