BT 2014 Annual Report Download - page 123

120 Financial statements
Going concern
Under the Listing Rules we are required to review the directors’
statement, set out on page 111, in relation to going concern.
We have nothing to report having performed our review.
As noted in the directors’ statement, the directors have concluded that
it is appropriate to prepare the group’s nancial statements using the
going concern basis of accounting. The going concern basis presumes
that the group has adequate resources to remain in operation, and that
the directors intend it to do so, for at least one year from the date the
nancial statements are signed. As part of our audit we have concluded
that the directors’ use of the going concern basis is appropriate.
However, because not all future events or conditions can be predicted,
these statements are not a guarantee as to the group’s ability to continue
as a going concern.
Opinion on other matter prescribed by the Companies Act
2006
In our opinion the information given in the Strategic Report and the
Report of the Directors for the nancial year for which the group
nancial statements are prepared is consistent with the group
nancial statements.
Other matters on which we are required to report
by exception
Adequacy of information and explanations received
Under the Companies Act 2006 we are required to report to you if,
in our opinion, we have not received all the information and explanations
we require for our audit. We have no exceptions to report arising from
this responsibility.
Directors’ remuneration
Under the Companies Act 2006 we are required to report to you if,
in our opinion, certain disclosures of directors’ remuneration specied
by law have not been made. We have no exceptions to report arising
from this responsibility.
Corporate governance statement
Under the Listing Rules we are required to review the part of the
Corporate governance statement relating to the Company’s compliance
with nine provisions of the UK Corporate Governance Code (the Code’).
We have no exceptions to report arising from our review.
On page 111 of the Annual Report, as required by the Code Provision
C.1.1, the directors state that they consider the Annual Report taken
as a whole to be fair, balanced and understandable and provides the
information necessary for members to assess the group’s performance,
business model and strategy. On page 84, as required by C.3.8 of the
Code, the
Audit & Risk Committee has set out the signicant issues that
it considered in relation to the nancial statements, and how they were
addressed. Under ISAs (UK & Ireland) we are required to report to you if,
in our opinion
• the statement given by the directors is materially inconsistent with
our knowledge of the group acquired in the course of performing our
audit or
• the section of the Annual Report describing the work of the
Audit &
Risk Committee
does not appropriately address matters communicated
by us to the
Audit & Risk Committee .
We have no exceptions to report arising from this responsibility.
Other information in the Annual Report
Under ISAs (UK & Ireland), we are required to report to you if, in our
opinion, information in the Annual Report is
• materially inconsistent with the information in the audited group
nancial statements or
• apparently materially incorrect based on, or materially inconsistent
with, our knowledge of the group acquired in the course of performing
our audit or
• is otherwise misleading.
We have no exceptions to report arising from this responsibility.
Responsibilities for the nancial statements and the audit
Our responsibilities and those of the directors
As explained more fully in the Statement of directors’ responsibilities
set out on page 111, the directors are responsible for the preparation of
the group nancial statements and for being satised that they give a
true and fair view.
Our responsibility is to audit and express an opinion on the group
nancial statements in accordance with applicable law and ISAs
(UK & 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.
Other matter
We have reported separately on the parent company nancial
statements of BT Group plc for the year ended 31 March 2014 and
on the information in the Report on Directors’ Remuneration that is
described as having been audited.
Paul Barkus (Senior Statutory Auditor)
for and on behalf of PricewaterhouseCoopers LLP
Chartered Accountants and Statutory Auditors
London
7 May 2014