LICOP Calculating, analysis and reporting FAQ document
LICOP guidance standardizes reporting on household income and living income gaps, aligning stakeholders through a common framework and language.
Verifying and aligning calculations to enhance credibility and trust
After estimating the living income gap, the focus shifts to validating results and aligning stakeholders. This involves confirming that benchmark and income data are accurate, consistent, and comparable, while ensuring agreement on key inputs such as the gap and its drivers.
Engaging stakeholders to review assumptions and findings builds a shared understanding and strengthens credibility. While transparency and clear documentation are essential, it is equally important to remain pragmatic, using the best available data to inform action, while refining quality and alignment over time.