BT 2006 Annual Report Download - page 125

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PARENT COMPANY AUDIT OPINION
Independent auditors’ report to the members of BT Group plc
We have audited the parent company financial statements of BT Group plc for the year ended 31 March 2006 which comprise the
balance sheet, accounting policies and the related notes. These parent company financial statements have been prepared under
the accounting policies set out therein. These parent company financial statements are set out on pages 124 to 126. We have also
audited the information in the Report on directors’ remuneration that is described as having been audited.
We have reported separately on the group financial statements of BT Group plc for the year ended 31 March 2006. This
separate report is set out on page 63.
Respective responsibilities of directors and auditors
The directors’ responsibilities for preparing the annual report, the Report on directors’ remuneration and the parent company
financial statements in accordance with applicable law and United Kingdom Accounting Standards (United Kingdom Generally
Accepted Accounting Practice) are set out in the Statement of directors’ responsibilities.
Our responsibility is to audit the parent company financial statements and the part of the Report on directors’ remuneration to
be audited in accordance with relevant legal and regulatory requirements and International Standards on Auditing (UK and Ireland).
This report, including the opinion, has been prepared for and only for the company’s members as a body in accordance with
Section 235 of the Companies Act 1985 and for no other purpose. We do not, in giving this opinion, accept or assume
responsibility for any other purpose or to any other person to whom this report is shown or into whose hands it may come save
where expressly agreed by our prior consent in writing.
We report to you our opinion as to whether the parent company financial statements give a true and fair view and whether the
parent company financial statements and the part of the Report on directors’ remuneration to be audited have been properly
prepared in accordance with the Companies Act 1985. We report to you whether, in our opinion the information given in the
Report of the directors is consistent with the parent company financial statements. The information given in the Report of the
directors includes that specific information presented in the Operating and financial review that is cross referred from the Report of
the directors. We also report to you if, in our opinion, the company has not kept proper accounting records, if we have not
received all the information and explanations we require for our audit, or if information specified by law regarding directors’
remuneration and other transactions is not disclosed.
We read other information contained in the Annual Report and Form 20-F and consider whether it is consistent with the audited
parent company financial statements. The other information comprises only the Financial headlines, Chairman’s message, Chief
Executive’s statement, the Operating and financial Review, the Report of the directors, the Report of the audit committee, the
Report of the nomination committee and the unaudited part of the Report on directors’ remuneration. We consider the
implications for our report if we become aware of any apparent misstatements or material inconsistencies with the parent company
financial statements. Our responsibilities do not extend to any other information.
Basis of audit opinion
We conducted our audit in accordance with International Standards on Auditing (UK and Ireland) issued by the Auditing Practices
Board. An audit includes examination, on a test basis, of evidence relevant to the amounts and disclosures in the parent company
financial statements and the part of the Report on directors’ remuneration to be audited. It also includes an assessment of the
significant estimates and judgments made by the directors in the preparation of the parent company financial statements, and of
whether the accounting policies are appropriate to the company’s circumstances, consistently applied and adequately disclosed.
We planned and performed our audit so as to obtain all the information and explanations which we considered necessary in
order to provide us with sufficient evidence to give reasonable assurance that the parent company financial statements and the
part of the Report on directors’ remuneration to be audited are free from material misstatement, whether caused by fraud or other
irregularity or error. In forming our opinion we also evaluated the overall adequacy of the presentation of information in the parent
company financial statements and the part of the Report on directors’ remuneration to be audited.
Opinion
In our opinion:
sthe parent company financial statements give a true and fair view, in accordance with United Kingdom Generally Accepted
Accounting Practice, of the state of the company’s affairs as at 31 March 2006;
sthe parent company financial statements and the part of the Report on directors’ remuneration to be audited have been
properly prepared in accordance with the Companies Act 1985; and
sthe information given in the Report of the directors is consistent with the parent company financial statements.
PricewaterhouseCoopers LLP
Chartered Accountants and Registered Auditors
London
17 May 2006
FINANCIAL STATEMENTS OF BT GROUP PLC
Financial Statements of BT Group PLC BT Group plc Annual Report and Form 20-F 2006 123