BT 1997 Annual Report Download - page 26

Download and view the complete annual report

Please find page 26 of the 1997 BT annual report below. You can navigate through the pages in the report by either clicking on the pages listed below, or by using the keyword search tool below to find specific information within the annual report.

Page out of 72

  • 1
  • 2
  • 3
  • 4
  • 5
  • 6
  • 7
  • 8
  • 9
  • 10
  • 11
  • 12
  • 13
  • 14
  • 15
  • 16
  • 17
  • 18
  • 19
  • 20
  • 21
  • 22
  • 23
  • 24
  • 25
  • 26
  • 27
  • 28
  • 29
  • 30
  • 31
  • 32
  • 33
  • 34
  • 35
  • 36
  • 37
  • 38
  • 39
  • 40
  • 41
  • 42
  • 43
  • 44
  • 45
  • 46
  • 47
  • 48
  • 49
  • 50
  • 51
  • 52
  • 53
  • 54
  • 55
  • 56
  • 57
  • 58
  • 59
  • 60
  • 61
  • 62
  • 63
  • 64
  • 65
  • 66
  • 67
  • 68
  • 69
  • 70
  • 71
  • 72

26
Auditors’ report on corporate
governance matters
TO BRITISH TELECOMMUNICATIONS plc
In addition to our audit of the financial statements, we
have reviewed the directors’ statements on pages 18, 24
and 25 concerning the company’s compliance with the
paragraphs of the Cadbury Code of Best Practice specified
for our review by the London Stock Exchange’s Listing
Rules and their adoption of the going concern basis in
preparing the financial statements. The objective of our
review is to draw attention to non-compliance with
paragraphs 12.43(j) and 12.43(v) of the Listing Rules.
Basis of opinion
We carried out our review in accordance with guidance
issued by the Auditing Practices Board. That guidance
does not require us to perform the additional work
necessary to, and we do not, express any opinion on the
effectiveness of either the company’s system of internal
financial control or its corporate governance procedures
nor on the ability of the company to continue in
operational existence.
Opinion
With respect to the directors’ statements on internal
financial control on page 25 and going concern on
page 18, in our opinion the directors have provided the
disclosures required by the Listing Rules referred to
above and such statements are not inconsistent with the
information of which we are aware from our audit work
on the financial statements.
Based on enquiry of certain directors and officers of the
company, and examination of relevant documents, in our
opinion the directors’ statement on page 24 appropriately
reflects the company’s compliance with the other aspects
of the Code specified for our review by paragraph 12.43(j)
of the Listing Rules.
Coopers & Lybrand
Chartered Accountants
London
20 MAY 1997