BP 2008 Annual Report Download - page 192
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191
Financial statements Financial statements
BP Annual Report and Accounts 2008
Parent company financial statements of BP p.l.c.
Statement of directors’ responsibilities in respect of the parent company
financial statements
The directors are responsible for preparing the financial statements in accordance with applicable United Kingdom law and United Kingdom generally
accepted accounting practice.
Company law requires the directors to prepare financial statements for each financial year that give a true and fair view of the state of affairs of
the company. In preparing these financial statements, the directors are required:
• To select suitable accounting policies and then apply them consistently.
• To make judgements and estimates that are reasonable and prudent.
• To state whether applicable accounting standards have been followed, subject to any material departures disclosed and explained in the
financial statements.
• To prepare the financial statements on the going concern basis unless it is inappropriate to presume that the company will continue in business.
The directors are also responsible for keeping proper accounting records that disclose with reasonable accuracy at any time the financial position of the
company and enable them to ensure that the financial statements comply with the Companies Act 1985. They are also responsible for safeguarding
the assets of the company and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Having made the requisite enquiries, so far as the directors are aware, there is no relevant audit information (as defined by Section 234ZA of
the Companies Act 1985) of which the company’s auditors are unaware, and the directors have taken all the steps they ought to have taken to make
themselves aware of any relevant audit information and to establish that the company’s auditors are aware of that information.