BT 2013 Annual Report Download - page 165

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Financial statements
Financial statements
Report of the independent auditors
Parent company financial statements
Independent Auditors’ Report to the members of
BT Group plc (the ‘company’)
We have audited the parent company financial statements of BT Group
plc for the year ended 31 March 2013 which comprise the BT Group plc
company balance sheet, the BT Group plc company reconciliation of
movement in equity shareholders’ funds, the BT Group plc accounting
policies and related information. The financial reporting framework that
has been applied in their preparation is applicable law and United
Kingdom Accounting Standards (United Kingdom Generally Accepted
Accounting Practice).
Respective responsibilities of directors and auditors
As explained more fully in the Statement of Directors’ responsibilities
set out on page 93, the directors are responsible for the preparation of
the parent company financial statements and for being satisfied that
they give a true and fair view. Our responsibility is to audit and express
an opinion on the parent company financial statements in accordance
with applicable law and International Standards on Auditing (UK and
Ireland). Those standards require us to comply with the Auditing
Practices Board’s Ethical Standards for Auditors.
This report, including the opinions, has been prepared for and only for
the company’s members as a body in accordance with Chapter 3 of Part
16 of the Companies Act 2006 and for no other purpose. We do not, in
giving these opinions, 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.
Scope of the audit of the financial statements
An audit involves obtaining evidence about the amounts and
disclosures in the financial statements sufficient to give reasonable
assurance that the financial statements are free from material
misstatement, whether caused by fraud or error. This includes an
assessment of: whether the accounting policies are appropriate to the
parent company’s circumstances and have been consistently applied
and adequately disclosed; the reasonableness of significant accounting
estimates made by the directors; and the overall presentation of the
financial statements. In addition, we read all the financial and non-
financial information in the BT Group plc Annual Report & Form 20-F
for the year ended 31 March 2013 to identify material inconsistencies
with the audited financial statements. If we become aware of any
apparent material misstatements or inconsistencies we consider the
implications for our report.
Opinion on financial statements
In our opinion the parent company financial statements:
—give a true and fair view of the state of the company’s affairs as at
31 March 2013;
—have been properly prepared in accordance with United Kingdom
Generally Accepted Accounting Practice; and
—have been prepared in accordance with the requirements of the
Companies Act 2006.
Opinion on other matters prescribed by the Companies Act 2006
In our opinion:
—the part of the Report on Directors’ Remuneration to be audited has
been properly prepared in accordance with the Companies Act
2006; and
—the information given in the Report of the Directors for the financial
year for which the parent company financial statements are
prepared is consistent with the parent company financial
statements.
Matters on which we are required to report by exception
We have nothing to report in respect of the following matters where
the Companies Act 2006 requires us to report to you if, in our opinion:
—adequate accounting records have not been kept by the parent
company, or returns adequate for our audit have not been received
from branches not visited by us; or
—the parent company financial statements and the part of the Report
on Directors’ Remuneration to be audited are not in agreement with
the accounting records and returns; or
—certain disclosures of directors’ remuneration specified by law are
not made; or
—we have not received all the information and explanations we
require for our audit.
Other matter
We have reported separately on the consolidated financial statements
of BT Group plc for the year ended 31 March 2013.
Paul Barkus (Senior Statutory Auditor)
for and on behalf of PricewaterhouseCoopers LLP
Chartered Accountants and Statutory Auditors
London, United Kingdom
9 May 2013